We found it! It really is a great property for us. It has a dam, a bore, a brook running through the middle, 3 houses, large shed, barn and pretty good fencing! All of that and at price we were willing to pay. There is definitely some work needed (well a lot really), but the amount of existing infrastructure was way more than we were expecting. There is so much potential for us to do what ever we want. Have our own shop or cafe to sell our fresh produce (what ever that will be) we can have animals, there are multiple paddocks on one side that are perfect for this, all troughs fed by the bore. We could have a farm stay, there’s plenty of houses without having to build more. The possibilities are endless.
Before I realised it was the perfect property it was decision time again!! We had to decide on whether or not we wanted to make an offer. I agreed unwillingly one night, then I had a night mare.. Sounds childish right? I am known for these and no matter how hard I try to convince myself it’s just a dream I struggle. I told Ashby to hold off. He was shocked, as just last night I had agreed (true stereotype of a woman always changing her mind). He had a pretty shit day at work that day, much probably to do with my bombshell in the morning. That night we talked about the property and what had changed my mind. After this I much more willingly committed to the offer and we sent it through to the real estate agent the next day. It was much lower than the asking price so to be honest we didn’t think it would get accepted. The market was low and the area was really struggling for sales over the past few years. I think this was definitely in our favour. The owners accepted our offer, holy crap we just bought 38 acres, which we have no idea what we are going to do with. Rather scary thought really.
Finance took much longer than expected due to the complexity of the property and I think the rural location. When we bought our first property in Perth I remember the process being much quicker and I also don’t remember being worried at all. This time we were worried and frustrated how long it was taking. I think this is the first time I was really sure of how much we wanted this. No matter what we said, we would have been disappointed if finance fell through.
Another clause we had added to the contract was in regards to soil tests. We wanted to make sure it was exactly what we thought, and there wouldn’t be any nasty surprises. As Ashby says ‘soil can differ from area to area, town to town, property to property and acre to acre.’ Ashby found this with our results. Stock had overgrazed the paddocks and the fertilizer history had resulted in the soils being completely out of whack and the pastures really struggling. There wasn’t anything which couldn’t be fixed though which was nice and there were some good indications of how good the soil used to be which was promising.
Final inspection time. If you think checking one house takes a long time, try 3 and 2 sheds. There was lots to look at and I’m sure we would have missed something. I actually found this rather overwhelming, but that seems to happen a lot with me lately. So I think it’s just the whole process.
Today was settlement day and we will be spending the weekend down there. We can’t wait as we will lease both houses out, so it will be awhile before we get to go there again.
How did you find the whole offer process? Any tips or tricks for not getting your hopes up? Any tips for final inspections?