Sell by owner

Discussion in 'Caveat Emptor (Buyer Beware)' started by Simon, 28th Jul, 2014.

  1. Simon

    Simon Living the Dream

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    I'm looking to privately sell some places. One being my student house in North Lambton.

    Plan is to upgrade my family home and cut down on my workload.

    I don't really expect to sell it through Somersoft. But I'd welcome at ideas or info from you folks.

    I tested the water on Gumtree with another property. Got a few calls but no real luck.

    But I did get a lady contact me about listing my place through her on realestate.com.au for $85 for as long as required.

    Is she some sort of advertising aggregator? Would it cost me more to list it myself on realestate.com.au. Do they even allow private sellers.

    Anyways, for anyone interested in the deal.

    5 bed, brick and tile home built in the 60s located 400m from the university here in Newcastle. Rented by the room. Ten year old kitchen and paint job. All good for now.

    Two double rooms get $170pw
    Two medium singles get $150 pw
    Smaller single gets $140pw

    Plus all pay $20 pm for ADSL, costs me about $80 pm but the extra covers the summer period roughly.

    The place isn't empty over the summer though it does get less rent. I have a strategy I use to keep it tenanted but I don't want to discuss it except with a buyer :). In fact got a few secrets to share with the buyer to keep the quality of the tenant up. Just stuff I learned over ten years.

    Price? Getting some appraisals but take a look at what's online. Do a search for 5 bedrooms plus in North Lambton. Remember that this is a brick and tile home in the better of the university suburbs. Can't compare with Jesmond, sandgate, Birmingham gardens etc.

    Discussions?

    Think the obvious starting point is the new accomodation at the university. Adding a lot at the moment but the university is growing fast and on campus accomodation is quite expensive. I don't see it as as a major competitor.

    Management? Lots of advantages to self management but there are a number of local agents who manage student rentals by the room.

    Maintenance? No extra wear and tear in my experience. No pets or kids. I have re painted one wall from sticky tape damage but in ten years it has only been fair wear and tear and nothing you wouldn't expect from normal tenants.

    What else?
     
  2. superAndrew

    superAndrew Member

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    They don't allow private sellers. $85 seems quite cheap. I've seen others advertise $400+.

    Cheers

    Andrew
     
  3. Grogounet

    Grogounet Member

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    Could you contact via MP? Might be interested
     
  4. Simon

    Simon Living the Dream

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    So I'm listing it next week with an Agent. Aiming to get $500K with an offers over campaign starting at offers over $490K. He believes that will get more people in the door.

    Spent the last few weeks painting in and out and scrubbing everything. Two final trips to the tip to get rid of all the student junk that no one claimed...

    I just remembered I got a bunch of PMs from people asking about the place.

    If I sell before I list it then I will discount the selling fee. Once it is listed I don't have that luxury as we all know.

    If anyone that PM'd me is truly serious then please call me asap. PM me for my number.

    University has new rooms coming online but they rent for approximately double what I ask. Local student property manager reckons that will actually drive more students my way. But only time will tell.

    Cheers,

    Simon
     
  5. james55

    james55 Member

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    Location:
    Sydney
    Hi Simon, do these student rental properties require council approval? If so is this one approved?
     
  6. jim1964

    jim1964 Part Time Sheep Farmer

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    I use http://www.forsalebyowner.com.au/ costs $99
    The trick to this price is to 1st advertise on Gumtree privately,then they contact you with the $99 till its sold deal.