Wollstonecraft Apartment Purchased under Market Value

LOWER NORTH SHORE | BUDGET $1.25M

10 Jan

Written By Billy Gleeson – Founder & Director

▉ REGION: LOWER NORTH SHORE
▉ CLIENT: YOUNG COUPLE
▉ BUDGET: $1.23M

Webb & Co. achieved a successful outcome for first home buyers, securing a characterful apartment below market value amidst a distressed sale scenario.

Background:

After 12 months of searching and missing out at three auctions, a young couple renting in the Lower North Shore sought Webb & Co.'s expertise to find their first home. Their criteria were specific: a character-filled apartment within a 15-minute walk to train or ferry services in the Lower North Shore.

Challenges:

Competitive Market: The couple faced high competition in Sydney's sought-after Lower North Shore.
Precise Needs: Their search for a property with unique character and convenient location narrowed the field of suitable options.
Auction Disappointments: Previous unsuccessful auction experiences had heightened the pressure to secure a suitable property quickly.

Strategy:

Webb & Co. crafted a focused and proactive strategy to meet the couple’s needs:

Tailored Search: Prioritised properties that matched the couple’s specific criteria for character and location.
Market Insight: Capitalised on the knowledge of distressed sales to identify properties priced below market value.
Efficient Negotiation: Quickly negotiated the purchase of an apartment, avoiding auction competition and securing the property for $70,000 less than the expected market value.

Outcome:

Within four weeks, Webb & Co. successfully purchased an apartment for the couple for $1.23 million, within budget and under market value. This acquisition not only met but surpassed their expectations, providing them with a character-rich home in their desired location. This case underscores Webb & Co.’s ability to navigate challenging market conditions and secure ideal properties for first home buyers efficiently.

Lower North Shore

Billy Gleeson – Founder & Director

A Lower North Shore resident of over 20 years, Billy Gleeson is considered one of the North Shore’s pre-eminent and most respected buyers agents, bringing a passion and energy for real estate to Webb & Gleeson Buyers Agency.

With more than 5 years experience in the North Shore real estate market, Billy has facilitated the purchase of some of the region’s most prestigious homes, including a $20m estate in the Lower North Shore and $17.4m architectural residence in Mosman.