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Expressions of Interest on Development Property

Discussion in 'General Property Chat' started by Rosie, 16th Oct, 2016.

  1. Rosie

    Rosie New Member

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    16th Oct, 2016
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    Brisbane
    I own outright (no mortgage) a somewhat rundown two-bedroom home in the Brisbane northern suburbs.

    I will be wanting to sell the property sometime within the next 3-6 months, but I have no idea of its potential value. I have been told it would be of interest to unit developers. There have been quite a few multi-unit developments around it.

    How should I invite expressions of interest to reach the widest possible market.
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    Use an agent otherwise you have no guidance as to the price that you want to achieve, marketing strategy, contacts with developers, access to web portals, signage, EOI drafting skills, negotiation skills etc.
     
    wylie likes this.
  3. Magoo

    Magoo Well-Known Member

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    Auction it.....Then you'll find out its true value. With properties like that you'll never know if you're underselling it if you put a price on it by selling it by private treaty. Im not a fan of tender either, people just throw low ball offers in & hope for the best.
     
    Perthguy likes this.
  4. Colin Rice

    Colin Rice Mortgage Broker Australia Wide Business Member

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    Find out for yourself what the potential is by engaging a surveyor and a building designer and get a feaso done as well. You may discover its better to hold and do yourself. There is enough reputable contacts on here to assist you with that.

    If you dont want to develop yourself (with professional help) then at least you know what can be done with it as most REAs wont have a clue.
     
  5. Bran

    Bran Well-Known Member

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    Pm me the address.

    Ill give you a fair price.

    Honest. ;)
     
    Pumpkin, wylie, MTR and 2 others like this.
  6. Agent30yrs.

    Agent30yrs. Well-Known Member

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    19th Jun, 2015
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    Location:
    Brisbane
    HI Rosie

    First and foremost get a town planning opinion from a good town planner. You need to know what you have got before you try and put a value on it.


    Expect to pay circa $700-900, They supply a written opinion 3-7 pages long and they are invaluable information to you and intending purchasers ( if you elect to provide it ) later on. I have a couple of different guys I use and it varies depending on the complexity. Don't go to the local suburban guy, or your friends brother - there are town planners and there are town planners !

    With regards to method of sale, once you know what you have, that would definitely dictate the way you put it to the market
     
    Perthguy likes this.
  7. Angel

    Angel Well-Known Member

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    Paradise, Brisbane
    So how many PrivateMessages has Rosie received so far?
     
    wylie, MTR, mrdobalina and 1 other person like this.
  8. Rosie

    Rosie New Member

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    16th Oct, 2016
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    Location:
    Brisbane
    Thank you all for your input. I have decided to consult a Town Planner before proceeding further.
     
    Pumpkin likes this.
  9. wylie

    wylie Moderator Staff Member

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    If you send a private message to RPI, he could tell you what you can do with it?