We had been managing this Investment Property for our landlord client for years. Our property management done an excellent job.
Main Road properties are never easy to appraise especially with an all night service station across the road. This property also was situated on 887 square meters of land with a fairly steep drop in the rear yard. In our appraisal we also had to consider the potential of developing the sloping rear backyard.
Our thorough research came up with a recommended list price of $679,000. Our first open home attracted 11 groups on the 23rd march. An offer at full price resulted from this open home. The buyer unfortunately did not have finance approval at this time to secure the property.
After Easter we conducted two more “Open Homes” again with strong numbers attending. Further offers were received above the asking price. Throughout this whole process we continually communicated with the first buyer who eventually secured the property for $700,000, $21,000 above the asking price .
The moral of this story for buyers is to make sure you have finance approval. Our client had accepted the full price offer.
For sellers, you don’t have to choose a local Agent to get an excellent result. Doing thorough research and listing at an accurate price at the start will get the best results. Choosing an agent you can trust and who will continue to strive to get you the highest price in the current market.
Call Michael Arnold 0419 295 661.
