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Very good point Kathryn. In fact, I had this exact thought last night. The property has great fundamentals and I've held it for 7 years. It's performance has been non-existent for the first 5 but a sale in the block last month has shown it's done well recently. My main reason for thinking...

I had originally thought of that, but then figured it would be better to start at a higher price and move down, than a lower price and move up... what do others think?

Yes, I know the ball park I'd sell for, and it's probably a touch higher than market but that's because I'm not really interested in selling. The tenant is a (wealthy?) Arab lady new to Australia who's primary concern is just to have the security of a place, loves the apartment and wants to...

Inner Melbourne, but thanks anyway!

That is awesome jrc! Kudos :)

Yes, I suppose for the $400-odd it would be worth it. From time to time the banks have promo's where I can get one for free, but they have been inconsistent in regards to sometimes coming in lower (i.e. for finance purposes - translation: low because the banks will sue for any difference...

Yes absolutely Perp. The reason I posted this online was to invite a few devils advocates to poke holes in it, it helps me. I appreciate your thoughts very much. I have heard of this before and will be checking my agreement when I get home! :)

To be honest I don't know the legal situation (although I will find this out very shortly), but honestly that makes about as much sense to me as me demanding $500 from Mazda because I suggested my friend should buy one - there was no contract was in place, no request for the service, no effort...

I disagree. Years prior I asked them to find me a tenant, and I paid them a fee for this. I never asked them to find me a buyer, discussed any payment or anything like that. After this time, I have formed a relationship with this tenant (as their landlord), who is now a asking to buy.

My PM just told me a tenant asked to buy my property. I suppose I wouldn't mind selling it. Here is my game plan. Try and avoid the PM Agencies Sales Department to avoid any 'we found the buyer, give us money!' BS. Get a free bank valuation to find out the actual value of the property...