Hi,
We have a brand new 2brm unit that has been on the market now for about 4 months. It does have a contract for sale on it however subject to the sale of the purchasers IP on the Gold Coast and that doesn't look like it's going anywhere fast.
I was thinking of putting a letter in to letterboxes of large sites in the area asking whether people might be interested in swapping their old house for a lovely brand new unit plus some extra $$$ if their property valued up ok.
Does anyone have any ideas as to how I should write this letter as I don't want to sound like the hungry developer. Just trying to find a different way of getting rid of the new property and moving the funds into another development. There are numerous old homes in the area on huge blocks which is a bonus.
Would love to hear your thoughts and whether anyone has had any luck doing something similar.
Cheers
Pete & Jackie in Tassie.Is you apartment also located on the Gold Coast or close surrounds?
Hi Kristin,
Our unit is in Warrane, a suburb 10 minutes out of Hobart. I believe the Gold Coast market is pretty bad at the moment so the chances of her unit up there selling is slim. She has reduced the price considerably however not prepared to go further.
We are having another Open Home tommorow. On previous Open Homes we had no one turn up so I'm not confident. That's why I think we need to try another aproach plus we are in search of another development project.
Cheers
JackieI've also heard the Gold Coast market is not great at the moment and a lot of industry emails I've received lately have been noting Hobart's inner suburbs as having some really good buys due to a recent slow market.
I'm surprised your agent let you sign the contract of sale on this considering the Gold Coast market, but then again I'm not aware how oversupplied or slow the market is where you are.
Based on the data I can get for the suburb, 4 months on the market is above average. Chat to your real estate agent about refreshing the internet advertising by taking it off the market for a day or so and going back on again with a variation in the body of the ad & perhaps a fresh photo from a different angle.
Internet real estate portals sort listings by date, taking it off the market for a day won't hurt your cause because the property will pop up at the top of the list for searches when it's back on. Based on reports that the market has a high rate of oversupply, it's likely your property will be sitting at the bottom of the list.
You could try the drop cards, it really wouldn't hurt. I would highly recommend having your real estate agent arrange professionally printed drop cards if they are prepared to. With a lot of media coverage on property scams, people may be suspicious you are not offering a legitimate deal if you've got home-made drops.
I'm not 100% on legislation in Tasmania, but as I understand it all offers are presented in writing via a contract of sale. I am assuming by your first post that you have accepted the offer, if a deposit has also been paid you don't have much flexibility unless the contract is cancelled by mutual agreement in writing and the deposit refunded. Check with your agent as to your options under legislation.
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