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Accepted Solutions
While it is pretty smelly it does happen.
My wife and I purchased the house we live in now spontaniously on a weekend trip away. We where investing heavily in rental houses at the time. Buying run down or undervalued properties, restoring them ourselves and renting them out. Property was increasing in value quickly and we had a few runs on the board and had the support of our bank to buy properties anytime, anywhere, no questions asked, within reason.
We where on a weekend break in a popular seaside town when we spotted the "For sale" sign on the house. It was set on an outstanding large block with 50 metres of frontage to a river reserve. Ideal to demolish the house and build units. We phoned the agent, had an inspection within an hour and made a cheap offer on the spot. To our suprise, the owner accepted straight away and it was all signed up by nightfall. We hadnt even spoken to the bank at this stage, but the price was well below previous loan offers from our bank.
Our farms where in the grip of the millenium drought at the time with sheep living in feedlots for 6 months of the year and crops failing. We used the new purchase for a holiday house to get away from the dust on weekends and found it too hard to drive home Monday morning. Eventually we made the decision to sell most of the farming business and move permenantly.
And yes Bushie, before you call BS on this one too, I do have the photos to prove it ( if I can be bothered hunting them up ) ...........
