Hey guys Im posting this on behalf of my parents. More the fact that my dad is to stubborn to do any kind of DD! 
My parents own outright a 2 acre block in Bonnells bay NSW, mostly vacant land a few trees up the back. it has a 1960s house on it that is ready to be demolished due to termites and water damage, a separate 4 car garage, and with no fence around the boundary.
They had it valued at 400k in 2010 with no value to the house because it was seen as a cost to remove it.. My dad just wants to get rid of the property and doesn't think he will get much more than that for it.
There are literally developments going up around his ears. . property's in the area that are smaller that my dads now have 10 or more houses on them!!
I don't know much about property or development, but I do know there are ways to maximize his return, be in through subdivision or whatnot im not sure..
That's why Im here to ask the lovely people of SS from some suggestions!
from what I can see they are making a mistake if they sell the property "as is"
Cheers!
My parents own outright a 2 acre block in Bonnells bay NSW, mostly vacant land a few trees up the back. it has a 1960s house on it that is ready to be demolished due to termites and water damage, a separate 4 car garage, and with no fence around the boundary.
They had it valued at 400k in 2010 with no value to the house because it was seen as a cost to remove it.. My dad just wants to get rid of the property and doesn't think he will get much more than that for it.
There are literally developments going up around his ears. . property's in the area that are smaller that my dads now have 10 or more houses on them!!
I don't know much about property or development, but I do know there are ways to maximize his return, be in through subdivision or whatnot im not sure..
That's why Im here to ask the lovely people of SS from some suggestions!
from what I can see they are making a mistake if they sell the property "as is"
Cheers!
