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trying to sell my old PPOR

Discussion in 'General Property Chat' started by B-Man, 26th Feb, 2016.

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  1. B-Man

    B-Man Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
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    Location:
    SA
    Im trying to sell my old PPOR
    its been for sale for about a month and no real interest

    what should i do?

    ideally i'd like to sell rather than rent out so i can get the cash out of it that i had put in.
    failing that i would have to rent it.

    how would it work CGT wise if i did rent it then sell it?
    should i get a valuation (knowing it's going to be less than i want/think)
    can the value then be based on that so its only half of the gain from there rather than proportioned?

    should i have it up for rent aswell so if it doesnt sell i can be claiming the costs on the property while its sitting there vacant before i get a tenant (could be another month...)
    and that a tenant may make it worth while buying for an investor?

    is there any tips to minimise the cash lost?
     
  2. dabbler

    dabbler Well-Known Member

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    You need one serious buyer, one month is not a lot unless it is a hot sellers market. Talk to your agent, look at similar local sales to see if your price is right.
     
  3. Xenia

    Xenia Adelaide Property Manager Business Member

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    4/136 The Parade Norwood, South Australia
    B Man
    Never advertise properties to investors, owner occupiers are by far the best market to market properties to. However I do understand the need for cash flow.

    I would suggest a short term lease or short stays while selling.
    are inspections done regularly?
     
  4. Marg4000

    Marg4000 Well-Known Member

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    Qld
    Sit down and have an honest chat with your RE agent about feedback, pricing, comparable properties etc.

    You say that a valuation will be less than you want/think, so my guess is that the property is overpriced, and your post suggests you know that.

    If you want to sell, then the asking price must be realistic.
    Marg
     
    Mick Butterfield likes this.
  5. B-Man

    B-Man Well-Known Member

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    SA
    i think the valuation will be underpriced as its had 30K worth of shedding added to it and the valuer didn't even add anything for it after it was revalued a year or so ago
    also has solar panels that valuer does not price in.
     
  6. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    $30 k worth of shedding is a lot for a suburban property - is the house regional/acreage? If so, it will take longer than a normal property to sell and one months isn't very long.
     
  7. Azazel

    Azazel Well-Known Member

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    Get some ideas from some other RE agents?