Private Sale - how to prepare meeting

[IinvestinIP]

We are in process of selling one of our Ip's and I have checked with the tenant to see if they are interested in purchasing. We will be having a meeting to discuss this, so far I have not engaged an Agent and I am confident to do the negations. Of course I would like to keep my cards close, but I am wondering what I can offer to back up my price and how to best organise the paper work. We have a layer who did do other settlements for us, we could engage him again. Any pointers? Will do more research and organise valuation for the house, buy some data for show price comparison in the suburb. Or should I just give my price and let the tenant do her own research.

 

[Scott No Mates]

Pay for an RP Data report for the suburb, that will give you all the sales. Cull out all of the ones which don't match your property ie 2 bedders, large lots, wrong side of the highway etc.

This will prepare you for the negotiation - you don't need to show your cards until they throw in a price and it doesn't meet your expectations AND you have gotten their rationale as to how they have come to their price.

 

[IinvestinIP]

Thanks Scott, just bought the report and comparing house and land size. Funny thing is our house is down as a 4bed 1bath, when it is only a 3bed 1bath. Should have followed this up with Landgate WA. Also got a "get it right prize" report from "buymyplace" and this have a lot of useful info, but the wrong lot size. I am sure I can support my case should it come to it. They kindly gave it to me for free when I rang and mentioned my issues with the website login.

 

[S.T]

might be worthwhile paying for a proper valuation from a licensed valuer, not a real estate agent. they will give you all comparable sales in the area and prepare a very detailed report.

 

[IinvestinIP]

Have been thinking this as well and just a little while ask for a quote from a local valuer $440, might be well spend considering I so not have to pay for advertising or agent fee.