hello everyone!
i have a 2 bedroom unit in Adelaide that I intend to sell soon.
As everyone who knows their markets would know, the Adelaide Rental market is booming. Most rents for sinlge or 2 bedroom units are a minimum of $200 in the worst suburbs.. try up to double that in decent suburbs.my expected sale price is around $200K.
The property is located in a very good area of Edwardstown, Adelaide and is close to all facilities. In looking at the papers there are rarely any units available in this suburb so it is a good 1.Should i sell this property as an investment, owner-occupied, or both, with the tenants or should i sell it to first home buyers vacant is the question…
Also if I want to sell privately, anyone have tips on how to go about this, where to advertise etc?
Thanks
Alex – [email protected]hi there,
just one question, Why sell?
Hi Alex
It really does not matter who you sell to, you want the person who can pay the highest price. And you will only get the highest price by making your property attractive to the largest market possible.
If the unit is tenanted, then the purchaser must honour the lease, so that will limit your market. Obviously a good time to sell is near the end of the lease, then if an investor purchases there is a ready tenant who may be prepared to renew, but if an owner occupier wants to buy then you can offer vacant possession in the near future.
If you are selling the unit vacant or owner occupied, then I suggest you get a rental appraisal letter from a local agent (or two) to give an investor evidence of the rental likely to be received. This won't help you with an experienced investor, but there are beginners out there who may find written advice attractive.
MargKingB – In answer to your question, I am selling because I need more money for a cash deposit to purchase a decent sized house. I do need to check whether CGT is payable first though.
Marg – Presently the lease is coming to completion (end of Oct07), the tenant wants to stay on, but I am just trying to figure out whether to sell or not, and how to best do this.
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