How do I go about selling IP direct with tenant

Discussion in 'The Buying & Selling Process' started by Big Maan, 14th Dec, 2017.

Join Australia's most dynamic and respected property investment community
  1. Big Maan

    Big Maan Active Member

    Joined:
    28th Mar, 2017
    Posts:
    40
    Location:
    Sydney
    Hi

    I have an Investment property in Townsville. I intend on selling the property. The real estate agents deal only with rental management not selling. They informed me the tenants who have lived in teh house for past 3 years are keen on buying the house off us now.

    How do we go about this correctly. We are expecting to sell at a considerable loss and if we can save $10,000 by not using an agent it would be a huge bonus. WE have a bank valuation and a number of market value prices. Do we just give them a figure and hope they take it and then deal with a solicitor and go from there.....

    Any advice is greatly appreciated as we are speaking to the tenants tomorrow.

    Kind Regards
     
    Big Maan, 14th Dec, 2017
    #1
  2. Mick Butterfield

    Mick Butterfield Well-Known Member

    Joined:
    15th Jan, 2016
    Posts:
    740
    Location:
    Bermagui NSW
    Hi,
    Are there any clauses in the rental management agreement in respect to a sale to the tenant. This is quite common. I would look through the agreement with a fine tooth comb prior to making to many noises with the managers.
     
    Mick Butterfield, 15th Dec, 2017
    #2
  3. RPI

    RPI SDA Provider, Town Planner, Former Property Lawyer

    Joined:
    18th Jun, 2015
    Posts:
    2,025
    Location:
    Brisbane
    A solicitor can draft the contract, use their trust account as stakeholder for the deposit etc. But agree with Mick on checking on commission for introduction.
     
    RPI, 15th Dec, 2017
    #3