Re-Sell a property before settlement.



From: Tai Melb

Hi all,

First, I am sorry for a long post.
I really need your advice/opinion here.

Three years ago I bought an off the plan
apartment. The building is almost
completed (in June or July).
When I bought this one,I had no idea what I was doing. :-(

I am now thinking of selling this apartment before settlement.
I have a few questions.

1. Have anyone done this before?
2. I am thinking of selling the property
by myself and yes, I havent done it before too. Is it a good idea? or I am better off
with an agent.

3. The building is not completed yet but they
do have an completed apartment which is used
for displayed purposes.
If I do sell it myself, I could tell
the buyers to come to the display and
check the quality/location/etc.. out,
then come back to me for the price!
Is it a good idea?

I think I do make some profit on this one.

Thank you very much for your help.

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Reply: 1
From: Fiona W

You need to do something pretty quickly about it. I would get it revalued so that you know how much the market rate is for it, then you would know how far you could negotiate with potential buyers to still make a profit for yourself, but also sell it easily. The idea is that it was supposed to have gone up in value from the time you signed the contract. I just hope you have checked the contract out thoroughly, and made sure there is provision for you to onsell the property. To sell it privately, you could put an ad in some local papers and get the word out there. An agent is good, but you will have to pay them!

-Fiona (Multimillionaire-2-B)
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