Selling My IP

Discussion in 'The Buying & Selling Process' started by Hedgy, 7th Oct, 2018.

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  1. Hedgy

    Hedgy Well-Known Member

    Joined:
    6th May, 2016
    Posts:
    152
    Location:
    Sydney
    Hi all,

    I'm selling one of my IPs. Haven't sold a property in over 20 years so a bit naive to the whole selling process. Have spoken to several agents about the process and keen to get the thoughts of folks here on the costs associated with sell. First of all, the property is in Sydney's inner west and is a typically terrace found in the area.

    Based on my discussions with the agents to date seems like the fees will be approximately as follows: 1.8% (which includes GST) for the agent's fee and about $7k for advertising and the auctioneers fees. Any thoughts in these fees?

    Thanks in advance.
    Hedgy
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    42,001
    Location:
    Australia wide
    Sounds cheapish. Around 2% plus HST is common. Might depend on value.
     
    Hedgy likes this.
  3. Hedgy

    Hedgy Well-Known Member

    Joined:
    6th May, 2016
    Posts:
    152
    Location:
    Sydney
    probably valued between 1.2 and 1.4 mill
     
    Dean Collins likes this.