Quickest transaction I ever made.

I own a house on a small lot in Hendra QLD. Currently renting for I think $505/week. Its not on the market and I was planning to do a full reno and sell it at some point. I estimate current market value to be around 8-900k. All my agents know everything I own is always for sale off market.


I got an agent ring me this morning while i was in the pet shop with my daughter. He said he had an off market offer for my place. A lovely family who like my lot and want to do a reno and move in as an upgraded PPOR. They currently live in Gordon Park and are looking to sell. They also sold an IP last year with money in the bank. Husband is a builder and wife has own interior design business.

The offer was 980k subject to finance. No BnP needed.


The offer was a very strong offer considering the lot. I thought its just another agent playing both sides and trying his luck. Anyway I texted back nothing less than 1.1m. (i woulda sold for 1mil tbh, thats a great price.)

I get an email 15 mins later with a signed contract etc etc for 1,090,000.

Easiest sale ever. I could have gone to market but I estimate even if i get more, it wouldn't be much more and this is a solid buyer. Could also be less.

Fingers crossed they wont fall over on finance as they should have a large chunk of money going in,

Brisbane is really going nuts.

 

Did they go through the property? I'd imagine the agent would want some sort of signed agreement from you to claim their commish beforehand?

I know that's what one agent wants me to do for a possible off market transaction (in Sydney).

 

The fact you don’t have to do preparations prior to sale, home opens etc is a win too.

 

And I wouldn't even begrudge the agent their commission. In that 15 minutes the revised price upped the comms by a whole $1,800 & you pocketed snow extra $200k

 

It certainly is quick easy money out there. There’s a fella in the Druitt who was wheeling and dealing similar sums. He’s set up for life as soon as he is released.

 

The agent was a little naughty and apparently took the buyer to see the home and knocked on the door and the tenants were happy to show them around. Their lease ends in 4 weeks approx. If the sale goes through I'll definitely buy the tenants a gift for being so gracious when they were given no notice.

Re agreement with agent, I've done a few transactions with him and we're sorta 'friends' so there's a level of trust there. He's a decent guy too.

 

Definitely no begrudging. I'm also not greedy and don't need to go to market. I've been given a great price. The logical thing to do is just accept. Win win.

 

Brilliant! Hope it all works out.

 

Me too!

 

You can sign up for 2 days/48 hours, keeps everyone honest

 

Excellent

Curious, when did you actually buy this

 

His name wasn't @sash?

 

@sash doesn't invest in Mt Druitt.

 

2014 and I think I paid 622k. Could be 642k I can't remember tbh.

 

very nice

Do you buy in Trust? I do, so I dont get 50% break, I think its 30% tax

 

Really...maybe I'll give him a little more time...like a week.

 

So this essentially doubled in price in 6 years with no value add on your part? What are you hiding under those floorboards mate...

 

I did this with a re agent who said he had a cash buyer for a property that I had not yet listed. I had not completed any DD on re agents
Was not sure whether this agent actually had a buyer??

So we locked in for 48 hours .....his suggestion and signed the deal and it worked out well. I also got higher market value at the time. Only condition was build and pest inspection

He was a BA and a real estate agent, no idea if this is even legal??

 

I know, but he'd fit right in

 

You can be both but you can't recieve a commission from both sides for the same property as there is no independence - this safeguards the buyer who engaged the BA as well as the vendor (who may be lowballed for a 'cash/hot offer').