Selling an unfinished house

Discussion in 'The Buying/Selling Process' started by Selia, 8th Feb, 2010.

  1. Selia

    Selia Member

    Joined:
    8th Feb, 2010
    Messages:
    1
    Location:
    NSW
    I would like to sell an unfinished house but don't know where to start.

    It started as a renovation, under Home-Owner Builder, but seven years later no progress and now want to sell the house as is.

    Where do I start? What do I need? Is there hope of selling the house? Need advice.
     
  2. batgirl

    batgirl on my way

    Joined:
    20th Dec, 2009
    Messages:
    36
    Location:
    nsw
    Maybe Nathan will buy it it appears he likes a challenge!:cool::D
    Seriously;
    I have seen houses like that for sale. They would obviously appeal to a smaller marker and I expect the price would need to be adjusted accordingly.
     
  3. Nathan

    Nathan www.nathanbirch.com.au

    Joined:
    16th Mar, 2006
    Messages:
    2,629
    Location:
    NSW
    Where how much, what is it?

    email me on my details below, so i can do my numbers.
     
  4. Propertunity

    Propertunity Real Estate Buyers Agent

    Joined:
    1st Jul, 2008
    Messages:
    9,698
    Media:
    1
    Location:
    NSW Central Coast, Sydney, Newcastle and Lower Hunter
    They can be sold, and Nathan maybe your ticket out??

    The issues mostly lie with lenders only being prepared to do low LVR loans on them - i.e. like 60% LVR especially if the kitchens & bathrooms are non-functioning / not there. So it appeals to cash buyers who want a bargain.

    Also they are taking on a fair bit of risk so the price needs to reflect that.

    Another option may be to just pay a builder to complete the house.
     
  5. willair

    willair xx

    Joined:
    23rd Jan, 2003
    Messages:
    6,850
    Media:
    3
    Location:
    fibro humpy..
    It only comes down to 3 items-Price-Size-Location,i don't think you would have a problem,but that depends on if the house is rentable..willair..
     
  6. Gools

    Gools Member

    Joined:
    7th Jan, 2008
    Messages:
    803
    Media:
    4
    Location:
    Adelaide, SA
    How would you normally sell the house if it was finished?
    Why would you do it any differently if it is un-finished?

    I would be taking it to the best value (note not cheapest) real estate agents in your area and get their opinions on what it will sell for. Any decent agent will still get you a pretty good price for it.

    If all you do is email Nathan the details and you accept his offer then I don't think you will be getting the highest price you can for it. You need to get the opportunity out to as many people as you can.

    Gools
     
  7. ianvestor

    ianvestor Future Middleman

    Joined:
    18th Nov, 2007
    Messages:
    2,370
    Media:
    10
    Location:
    Brisbane
    You need to get the opportunity out to as many people as you can, IF getting the highest price you can for it is your priority.

    On the other hand, selling to Nathan might be faster.
     
  8. Nathan

    Nathan www.nathanbirch.com.au

    Joined:
    16th Mar, 2006
    Messages:
    2,629
    Location:
    NSW
    i dont always nick them, sometimes terms are important for a normal price. You have access to me email address if you want to shoot over the details for my consideration.

    there are many variables which i dont know any at this point for my selection criteria.