Hello Friends,
i have planned to sell my place in Beverly Hills, Sydney.. wondering what would be the best method of sale .. I bought this place for over 536,000 in 2003 and have spent over 40,000 in renovations over the last 2 years. It is located in a very good spot and has new houses all around it.
My point is how do i best sell now ? I know i will end up making a loss, but what would be the best sale method ? I am even thinking of Private Sales if i can save some thing.. any advise is appreciated.
If you are going to make a loss why sell – do you need to sell it?
Can you move out and turn it into an I.P instead? All the costs are tax deductible, and the renos will provide good on-paper deductions too.
In a flat market never sell by auction. The buyers will only bid enough to beat the last bid – not always what they are prepared to spend.
Go with private treaty, don't spend any money on ads as it is a waste of money – the buyers are already out there looking. Don't let the agents con you.
Put a sign on the lawn, a photo in the agent's office window and one on the internet and set the price realistically and you will sell it in a few days.
I don't think a private sale is the way to go. Find a good agent who is a skilled negotiator. Many buyers don't want to deal with the owner of a property.
Hi lobo
Would you mind letting us know why you're planning to sell?
With regard to private sales and the possibility of people not talking to you because it is a private sale; we put the signs up, in Sydney, at 1pm on a Tuesday and had the proerty sold at 9am on Saturday!!
If you do decide to sell, don't be scared of the private sale process. There are plenty of web site to help you through it. We found it to be a very easy process.
Good luck.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
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