Hi All I have a property in Gracemere near Rockhampton Qld,it was going to be a 3-5 year investment,but now it seems the once 5th fastest growing suburb in Qld has died on its feet.
I have been renting for the last 2.5years but now tenant has moved out and prospect of getting new tenants seems bleak as there are about 80 vacant properties there,I have looked at the web and they are offering $200 free petrol 1 month free rent for people to sign lease agreements.
I have put my property on the market for $340k (paid $350k new) Had 2 offers but the buyers had various excuses even though we agreed on a price.
I have since dropped to $330k Neg. and have advertised it through local agent.
They keep telling me that they will sell it and have people coming through.
They said they had 2 keen prospective buyers coming through this week-have not heard anything to date-I suspect they are inventing buyers to keep me on their books.
The problem-if you can't sell or can't rent ? What do you do ? Do you pay $1300 pm to Bank for the next .......years and hope to sell then for $50K less than purchase price. Advice !!
I have been renting for the last 2.5years but now tenant has moved out and prospect of getting new tenants seems bleak as there are about 80 vacant properties there,I have looked at the web and they are offering $200 free petrol 1 month free rent for people to sign lease agreements.
I have put my property on the market for $340k (paid $350k new) Had 2 offers but the buyers had various excuses even though we agreed on a price.
I have since dropped to $330k Neg. and have advertised it through local agent.
They keep telling me that they will sell it and have people coming through.
They said they had 2 keen prospective buyers coming through this week-have not heard anything to date-I suspect they are inventing buyers to keep me on their books.
The problem-if you can't sell or can't rent ? What do you do ? Do you pay $1300 pm to Bank for the next .......years and hope to sell then for $50K less than purchase price. Advice !!