kathryn,
I can see the REA’s point that they want the place to be ready for someone to move in tomorrow….but they have to acknowledge that it is costing YOU money.
What would your agent say if you said to them – OK I can leave it untenanted…but I’ll take the market rental out of your fee for every week after the second that you don’t have a legitimite written offer.
Cheers,
Aceyducey
Hi there,
I have sympathy but I really really suspect it is priced too high for the market.
I think that is the ONLY reason why properties don’t sell and the ONLY reason why people have vacancies – priced too high for what it is compared to what’s available. i.e. the market!
i would be interested to know what you paid for it and how long ago.
cheers-
MinHi paid $65000 8 years ago…why???
kathryn,
Do you really need to sell? Can’t you keep the place as a rental? Then you can continue to use the equity in the place to keep purchasing other properties. Perhaps when the RE sale contract lapses, you might think of keeping as a buy and hold.
And kathryn, your price sounds about right. You are in the home of pozz gearers, but you have a right to sell the home for what you think it is valued at, based upon previous sales in the area and the condition of the home.
If there is going to be further industry in the area, then it’s likely there’ll be demand for your home. You might just have to be a little patient right now if you want to sell
But don’t sell it for a song!
kay henry
Originally posted by kathryngene:the area is gloucester 1 hour from newcastle and 3 from sydney about 30 mins from foster…why???
Sorry to be a pain but you do mean Forster, Foster is in Vic???
I am pretty sure it is Forster NSW, not Foster.
Pisces
It is forster NSW.
I have thought about keeping the property but i would really like to have a property nearer to me. Would make any type of small maintance easier, would be able to keep an eye on the place instead of trusting an agent, and i have been burnt very bad by the other agent in Gloucester.
but as my position is that i have trouble getting a loan, that by selling this i become debt free and i also have my ex husband of the papers.i dont think i can get a loan so really my options a very few.
Kathryn
Hi I have property in Gloucester which is rented. I would be interested in your comments regarding the Real Estate issue. I have some good contacts in the town.If you would like more info send me an email.
Regards
B SMITH
Hi Kathryn,
Houses don’t sell for two reasons only:
1. Not enough people know it is for sale and/or
2. The price is too high.Have to review both.
Skippygirl[biggrin]hi, thanks for sharing what you bought it for and when. no reason other than curious. I agree that you should try and hang on to it especially if it is performing (or has the potential to perform) as a rental.
the reason people don’t get loans or do is three things, debt to equity, credit rating, and serviceability.Perhaps if you keep the house you not only have equity (the house) but income (the rent) so increasing two out of three. Re. the debt, perhaps you can take a LOC out of the house to repay consumer debt at a lower rate than your credit cards or whatever.
i dunno.
I am just thinking of the countless people I have met in my life who said ‘I used to have a property a few years ago but we sold it. Ah! What it would be worth today!” never met too many people who didn’t regret selling ‘a few years ago’.
Thank you for your responces, i think the problem is that i am not there to show the property, and that the agent now well slow, so i have to keep onto him.the price i think is fair,and the return good.
unfortunatly i cant keep the property as i dont seem to be able to get a loan, so i have done well from the property and time to move on.Tried to find similar property on realestate.com, nothing……so maybe your agent isn’t advertising it via internet…not a good sign. Is the agent intimating that there is not a rental demand in Gloucester – thus leaving it untenanted? What about vandalism?
If you need to sell,maybe reduce the price a little, if you are getting responses to your own adds, maybe pay someone (pensioner as advised) a set fee for each person they show thru – they would only be “hostessing a viewing” they would not be selling your house for you, so therefore that is not illegal.,& they can email you reports/comments etc… With winter on its way, it may be harder to shift due to the season.I was thinking that maybe what i will do is a big push and advertise the property at a much lower price and write the add $…… highest over over this amount will be accepted. Not sure if this is a good idea. but for rental there is no problem the agent just wanted to sell it vacant.
A friend of mine had a similar problem – solution – he spent $10,000.00 at Freedom furniture flashed up the look increased the price by $15,000.00 and gave a $5,000.00 discount including leaving the furniture in as a sweetner.
Summary – he got his asking price, see with your mind not your eyes. Phil
Residential Wealth – this is what is so exciting about property! tactics, ideas, high stakes, winners and losers – you gotta love the game!!! (I was the pain that always wanted to play monopoly if you didn’t guess)
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