Here is a very unique property I'm selling in QUAKERS HILL

B

BV

As part of my portfolio restructure I've sold a house a few weeks back and now I'm selling this very unique property I've had for 10 years.

http://www.realestate.com.au/property-townhouse-nsw-quakers+hill-107376936

This townhouse is unique in that the back yard is 3 times the size of others in the same complex and has the potential to get it extended by another 80m by removing the rear fence (a by-law got passed regarding this last year).. This property also has an ensuite (a few others don't)

The new owner also has the ability to build a driveway on the front left hands side of the property and access the back yard. It would be easy to get approval for this and add a double garage or a big shed and use this property like a house.

The rent is $370/w and strata is $450/q
This complex is very popular with tenants because of the pool and tennis court so you'll never have any vacancies. The location is also ideal as it is very close to the train station, high school, senior high, TAFE, UNI etc,
Its also on the new side of Quakers Hill(the good side)

Please note that I have an exclusive agreement with the selling agent so I can't sell this one privately. I also have another townhouse in the same complex but I'm keeping that one.
 
Howdy BV,

Best of luck on the sale of your place in QH. Had a quick question/comment.

Would the agent not be entitled to a commission if you sold privately to a person they had not introduced you to? So if you found someone on this forum who had not been introduced to the property by the selling agent you could sell to them and the agent could not come after you for commission?


Inregards to your specific property for sale, having a look at some recent sales of propertys @ 81 Lalor rd and taking into consideration the unique features of your place, after applying a small discount (standard discounting from asking price) it would represent a decent buy (note to perspective purchasers do your own research)
 
Hi Ridin

Regarding the Agent's commission; your idea that the Agent would not be entitled to her/his commission if he/she didn't introduce the property to the purchaser, is only valid for a "sole" agency or an "open" agency. When you commit to an "exclusive" agency, if the eventual purchaser was introduced to the property, by anyone, during the period of the "exclusive" agency, then commission is payable to the Agent that held the "exclusive" agency at the time.

Cheers, Paul
 
RH

It is an exclusive agreement not a sole agreement so I don't believe I can sell it myself before the selling agreement expires in 2 months but it will definitely sell before then.

You are right the property represents good value.
I think unit 12 which is on the same side sold not long ago for $318K, but mine is in better condition it has ensuite and ofcourse the huge yard. Being in the end of the complex the owner can also park his car in front of his garage.
Unit 26 which is currently under contract probably sold for around $350K
http://www.domain.com.au/Property/For-Sale/Townhouse/NSW/Quakers-Hill/?adid=2008852356

Regarding the complex itself, there aren't any major issues to worry about.
The only thing they've planned to do is to replace the pool fence but there are money in the fund so there is no need for special levy's.
 
Ridin-High said:
Thankyou BV and Lofty for clearing that up for me :)
Click to expand...

RH

Selling this property privately didn't even cross my mind.

Regarding the PM you sent me and the rate of return since purchase, I bought the property after prices had already moved so I didn't catch the full cycle and as you know Sydney had a long period of price stagnation but I feel that there is still growth left before prices stabilise again.

Return on investment is relative to what you put in a deal.
I borrowed 110% so I put none of my own money into the purchase.
Yes I did have some holding costs but the taxman and the depreciation helped things along.

Holding wasn't a problem and finding tenants was easy.
The location and the pool always attract tenants and I keep my properties in good condition so they rent straight away.

Why am I selling?
I'll reduce non deductible debt which will increase my borrowing capacity.
I also want to build a house on the back of my super fund property which will accelerate the repayment of my super fund loan.
I won't be investing in any other asset class but I'll be buying more properties soon and as usual, the deposit will come from equity taken from my other properties.

cheers
 
Last edited:
Sold in 1 day

It was open day today.
It got sold in 1 day. (still under contract but it will sell)
I told you it was special ( It will be sad to see it go)
We had 14 groups through,
We had 3 offers, 2 were acceptable, we got the asking price
 
BV said:
It was open day today.
It got sold in 1 day. (still under contract but it will sell)
I told you it was special ( It will be sad to see it go)
We had 14 groups through,
We had 3 offers, 2 were acceptable, we got the asking price
Click to expand...

Gee, better repost that in the 'Quite alarming' thread (I think that's the onë), where Spammy is telling everyone that it is easy to get $30k knocked off the price. In fact he's so good that Agents are now ringing him regularly offering huge reductions just to him.

Congratulations!
 
Thanks Skater

I spoke to the agent who said that there is very little stock available at the lower price range of Quakers and he was confident he would have sold it for close to asking price.

Stock must be very low around there because if you drive around you only see SOLD signs on the streets.

Cheers
 
Last edited:
buzzlightyear said:
BV, congrats on the sale. Do you think given it was sold in such a short time, that the asking price could have been higher?
Click to expand...

Hi Buzz

Thanks, I'm happy with the result.
If you overprice properties that have potential then there is no advantage to the buyer so eventually you'll have to lower your selling price to meet the market.
 
I've tried to resist BV but the flesh is weak. :D

A property can't be "very" unique. Like "pregnant", it is a true/false statement.

Something I just googled:

[This is a fast-access FAQ excerpt.]

Fowler and other conservatives urge restricting the meaning
of "unique" to "having no like or equal". (OED says "in this sense,
readopted from French at the end of the 18th Century and regarded as
a foreign word down to the middle of the 19th.") Used in this
sense, it is an incomparable: either something is "unique" or it
isn't, and there can be no degrees of uniqueness. Those who use
phrases like "more unique", "most unique", and "very unique"
are using "unique" in the weaker sense of "unusual, distinctive".
 
Monopoly said:
Awesome stuff BV, Congrats!!! :)
Click to expand...

Thanks Monopoly

Sunfish said:
I've tried to resist BV but the flesh is weak. :D
A property can't be "very" unique
Click to expand...
Sunfish

Mate, you have too much free time in your hands.

This property is like a house which is selling with a $150K discount and free front yard and pool maintenance. I wasn't going to sell it but I need the cash.

Find me another property at this location with this much land and side access for a driveway and similar price and I'll buy it.
 
BV said:
Sunfish

Mate, you have too much free time in your hands.

This property is like a house which is selling with a $150K discount and free front yard and pool maintenance. I wasn't going to sell it but I need the cash.

Find me another property at this location with this much land and side access for a driveway and similar price and I'll buy it.
Click to expand...

I never said it wasn't "unique" it was the coupling with "very" I questioned.

But EVERY property is "unique", even if it a dump. It is the ONLY dump at that address.

Edit: Sorry I'm being pedantic. :)
 
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