No show at home inspection - Even with price reduction

Try to sell the property in the last 3 months of lease with tenant still in there.
Selling it vacant adds financial pressure

Units suck -they are always difficult to move

 

Nope no experience. I’ll go with the pros and get advice from the new agent.

Hopefully will sell soon though so I’m concentrating on present moment at this stage.

 

Anyhow bye guys. I’ll be away for a couple of weeks. I won’t be on property chat. Need to focus elsewhere.

Cya

 

Ok so I've made my decision.

I'll have just the one more home open at my lowest amount. It's been advertised at this amount now for 3 weeks with no offers. Only 1 person turned up. Where are the buyers going to come from! No where. There are no buyers!

My unit will have been on the market for 2 months since the middle January come March 18. It's enough time for it to sell. I don't want it getting stale.

So one more weekend and then I take it off the market. See out the exclusive selling agreement which ends in the middle of May.

I'm so grateful for all the help from everyone here. Thank you. I plan to interview new RE agents, get a personal loan to help see me through which I'll pay back in full when my unit sells. Then stage the unit. Make it look very pleasing and inviting to all buyers not just investors. Take some lovely photos to attract buyers to visit. I will pay for storage of my stuff too.

I'd get a personal loan for around $5,000. Use half of it for the staging, some for storage of my furniture and keep the other half to keep me afloat paying the mortgage as the unit will be vacant.

I wonder if I can pay back the personal loan early. I'll have to find out. Because I'd be planning to pay it off in full once my unit sells. I also want to pay the minimum monthly payments initially whilst my unit is on the market.

Yes. It's vital now after nearly two months to be pro active to get it sold.

I need to find a good agent. I signed up with open house and have a couple of names. I hope I pick the right one.

Can any one recommend an agent who sells small units within 4 km of the Perth CBD?

 

Last week I went onto that site open agent and 3 agents were shortlisted for me.

I just hope I pick someone good this time

 

I am not sure staging will make any difference if you are not getting anyone through the door.

 

I think it will because the photos will attract buyers first off.

 

Fair enough. But I would personally be looking for a good price. Seriously, less is more for me. Staging is great, but unless the price isn’t within the range the demographic is looking for in that area, I wouldn’t be even opening the ad.

 

If you're needing to get a personal loan to stay afloat I'm sorry to hear of your situation

It sux to be in this financial position in your 40s

I was broke in my 20s and it sucked bigtime

I open your threads and hope everyday to see a positive post from yoh

 

Look into a credit card interest free transfer balance. We maxed out our credit card and then transferred the balance and got 6 months interest free - paid it off before then with the house sale.

 

I have to do everything in my power to get the buyers through the door. So I’ll be staging it, have a good marketing strategy.

 

Well it’s more of a preventative measure at this stage. I do have $14,000 in savings but I’m not sure how many months I can last and what expenses I’ll have coming up. So it’s a good idea to get a loan I’m thinking.

It’ll work out ok. I’m thinking positively.

 

You've got $14k in savings. And on the assumption that's all back up. You're applying for a personal loan now???? Seems like a knee jerk reaction

 

Do you think I’m better off just using my own cash then.

The reason for the loan is for breathing space. To take the pressure off. Maybe I could ask Mum for a couple of grand instead. I could then pay her back when it sells.

 

True. That’s another idea and option. I’ll keep that in mind Thanks.

But do you think though if I stage it maybe I can make a bit more money than if it’s not staged. I think it’s worth a try? Don’t ya think?

 

My other option is to take it off the market and lease it out again.

Wait a year and try again. Hopefully I can hang on until then! Mum said she can help with cash if I need it.

There is a lot of stock on the market in studio and 1 beds within 5 km to the Perth CBD so it makes it hard. Maybe things will be better in 12 months time. Maybe there will be less stock. But then again maybe it’ll be the same.

 

No I think I need to change agents and stage it. That’s the way to go I think

 

A few things.
Personal loan is another credit hit. You may not care as you may not buy any more realestate for a while
As someone suggested you could do a bal transfer.
Also. Personal loans can be obtained quickly. Why not wait until last minute.

You might have gotten that offer you want by then