Selling IP in Brisbane

Discussion in 'The Buying & Selling Process' started by PropertyInsight, 21st Mar, 2019.

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  1. PropertyInsight

    PropertyInsight Well-Known Member

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    I created this topic to post questions relating to IP sale in Brisbane as I am selling IP 1st time in Brisbane.

    1. I talked to two estate agents. One suggested private sale, the other suggested two stages: auction then private sale if auction does not go thro. What are your thoughts about these sale approaches in Brisbane?

    2. I am in Melbourne, and sold IP in the past. The sale contracts for auction and private sale are different in Melbourne. I am wondering if they are also different in Brisbane.
     
    PropertyInsight, 21st Mar, 2019
    #1
  2. Stoffo

    Stoffo Well-Known Member

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    According to your maintenance issue's thread you have only owned this property just over a year.
    How much of a LOSS are you prepared to incur ?
     
    Stoffo, 21st Mar, 2019
    #2
  3. PropertyInsight

    PropertyInsight Well-Known Member

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    Changed my plan.
    This is a different IP. I owned it a few years, in Camp Hill, and it is vacant now. Fixed term loan is due in Jul. Just right time to sell. Value increases about $100K based on agent appraisal. I offload this IP first to fund the other trouble IP.
     
    Last edited: 21st Mar, 2019
    PropertyInsight, 21st Mar, 2019
    #3
  4. Stoffo

    Stoffo Well-Known Member

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    Oh, ok.
    Listen to the listing agents advice if you are unsure then.
    There is a reason you chose them
     
    Stoffo, 21st Mar, 2019
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  5. wylie

    wylie Moderator Staff Member

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    Is it a desirable property? Does it need renovating?

    Auctions tend to work for desirable properties that have a bit of “wow” or high end properties. Brisbane isn’t really an auction city like Sydney and Melbourne tend to be.

    I wouldn’t auction.
     
    wylie, 21st Mar, 2019
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  6. Angel

    Angel Well-Known Member

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    Would you be better to keep the good one in Camp Hill and sell off the one causing the problems?

    And which house needs all the maintenance like deck repairs, spa and pool repairs?
     
    Angel, 22nd Mar, 2019
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  7. ORAC

    ORAC Well-Known Member

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    Camp Hill is a good suburb. As mentioned above, Brisbane is not really an Auction city, best to work out and agree what it's worth with a reputable agent and go from there for private treaty. I don't know who you are dealing with in Camp Hill. Have used and can recommend Joanna Gianniotis from Place.
     
    ORAC, 22nd Mar, 2019
    #7
  8. MiQu

    MiQu Member

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    Just sold IP in Norman Park. Went to auction and had only one low ball offer. Sold a week later for a fair price with a conditional offer to a different buyer who never saw the property during the auction campaign...
     
    MiQu, 5th Apr, 2019
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  9. Sackie

    Sackie Well-Known Member

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    If the Camp Hill IP is on a good size lot and there's no major negatives with the house then I'd think twice about selling it to fund the inferior one.
     
    Sackie, 6th Apr, 2019
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  10. Marg4000

    Marg4000 Well-Known Member

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    Always look forward. Any half-way decent property at Camp Hill has good prospects.

    You may be far better off in the long run to sell the “trouble” IP.
    Marg
     
    Marg4000, 6th Apr, 2019
    #10
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