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Seeking advise

Discussion in 'General Property Chat' started by fairy, 14th Oct, 2015.

  1. fairy

    fairy Active Member

    Joined:
    24th Jun, 2015
    Posts:
    42
    Location:
    Canberra
    Dear all,

    I am a new investor. Have PPOR recently completed knock down rebuilt. And 1 IP.
    IP value approx - 700k
    PPOR - spent 1.6 mil in knock-down rebuilt.

    Recently i was contacted by RE saying he has client who wish to purchase house like mine and willing to pay 2-2.5 mil. Not sure whether i should consider selling just made 900 k on 2 years old project. And move on with another house project like knock down re built. But i know i can get 2.2 any time in current market.

    Due to privacy i wish not to disclose location details.
    Thanks for understanding and advise.
     
  2. Jamie_

    Jamie_ Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    353
    Location:
    Perth
    Why not?
     
  3. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    5,568
    Location:
    Adelaide, SA
    Keep the house - draw out the new found equity and go on an investing spree :)
     
    WestOz likes this.
  4. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    2,098
    Location:
    Sydney & Adelaide
    Tell him you will sell for 3m and see if hes serious
     
    TheGreenLeaf and Elives like this.
  5. WestOz

    WestOz Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
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    Location:
    WestOz
    I'd hold, or as Dave said, see how much he really wants it.

    Altho the 1st thing that popped into my head was an agent seeking high val commission, see if your interested, couple days later say sorry the person found something else, try and sign you up.
     
    Richard Williams likes this.
  6. Azazel

    Azazel Well-Known Member

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    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    Hey @fairy , what's the question?
     
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  7. wylie

    wylie Moderator Staff Member

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    Posts:
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    Location:
    Brisbane
    If you are not being offered any sort of premium over what it is worth, you have no great dilemma.

    What were you planning on doing next anyway?
     
    York likes this.
  8. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    8,940
    Location:
    Sydney
    Possibly tax free money.

    If you sold what would you do with the money?
     
  9. dabbler

    dabbler Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
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    Location:
    Sid en e - olympic city
    I think they will tell you anything to get the listing, but it is your house, do as you feel inclined to do.
     
  10. Richard Williams

    Richard Williams Buyers Agent - Southeast QLD Business Member

    Joined:
    9th Aug, 2015
    Posts:
    471
    Location:
    Loganholme, Brisbane
    2 to 2.5 ... ? Gotta love agents, good chance it would be close to 2 when push comes to shove and then you a long way from 900k profit... Only sign with a very short agreement with the agent and make it very clear the price you are after. And go hard on the commission rate :)