Selling before on market

An IP is being sold. On the agent's advice there was a bit of cleaning up; the tenant is a slob. Cost $1000. The advertising copy has been written, pictures have been taken, and plans have been made. The marketing has not been put online yet, and the selling agent advises that there are two offers, 4% and 2% below the middle of the EPR. I think that the offers come from buyers on the REA list.

While the offers are good they may be indicative of the demand. I'm tending towards putting the property online and seeing if there's more demand, perhaps at a higher price. There's no rush to sell although it would be good to settle prior to Christmas to avoid land tax.

Advice about the above would be valued.

 

Imo it's best to go with the flow of the real estate culture of wherever your IP is.
Is your IP in Melbourne? If so, it would be better to take it to auction after advertising it.
On the other hand, if it were somewhere like Wagga NSW, you'd probably do just as well and save a lot of fuss selling before market. Just a different culture. I do listen to th eselling agents on these matters.
By the way, I envy you only needing to spend 1K to tidy up your place.

 

WattleIdo, thanks. The IP is in Melbourne, outer suburbs. The offers were presented by the REA, just asking. Like you I take note of what the REA advises. I've done renos and had to clean up after one mangy lot of tenants, but I've never had to do a clean-up before a sale. The lockdown rules keep changing and I have not kept track of what applies here, so I'm unsure what the rules are about OFIs. I'm comfortable with a private sale, fits with the Jenman theme in that a bidder does not know what the other bidders are offering.

 

The marketing has been paid, so yes, agree, get it online. I'll ask the REA about DOM tomorrow, and until then cannot comment about demand. The population growth in the last year was 11%, with the best other figures I can find being from 2015.

 

Definitely go online to gauge interest.

 

I think you'll find a strong demand with 11% popn growth and even conservative REAs in outer Melbourne continue to see very strong demand. Is it western Mebourne?
Wish I could have my cake and eat it too but my mangy tenants have left a bitter taste along with the backyard built-in bath tub, mould, gouges, holes in walls etc.
It's still a good time to let go and follow the process.