Our first reno project

Thanks don
Elka, I will definitely get bathroom photos, probly today. We originally were going to basically leave it alone, but decided it needed a lift so it didn't drag the rest of the house down.
So we:
-re-tiled floor
-tile paint all wall tiles (white)
-added splashback tiles to vanity
-changed vanity handles
-all new taps, toilet and mirror
-timber venetian
-downlights
-added a row of mosaics as a border around the wall tiles
-re-siliconed

The "Sale by set Date" method that we are using is like a cross between an auction and a private sale.
It starts with "sale by 4pm on 20th Oct" – 4 weeks after first open house. The idea is that people make their offers and then on that date we choose which one we will take (if any).
But if we get an offer that is high enough we can say "yes" immediately, and then the "set date" is brought forward to 4pm the next day. So then all the intested buyers are contacted and told "This property will be sold at 4pm tomorrow, so if you want to make an offer, you have 24 hours to make your best offer.
From that point all offers are put in an envelope so only the agent who takes the offer knows what it is. This gets agents competing, and puts pressure on buyers to truly make their best offer. Then the next day we open the envelope and choose which offer to accept -either the one we already said yes to, or another one if better.
We think this method will work well for us in the current market which is very strong, with many buyers frustrated at missing out, and with properties like ours being quite rare in the area.
As a buyer though, this method is really hard to get a bargain. So as a seller, Yay.

Anyway, today is the day.
I better go finish cleaning and make the place pretty!!!
See ya.

Sat 22 Sep
-got the house all cleaned up, tables set, music on, fresh bread on bench, lights on. Looking great.
-agent came, we left and went to look for next one.
-17 groups through the 11am open, and one person wanted to make an offer in the evening.
-another open at 6pm an agent rang me at 7:30 to say she was still at our house and had taken 2 offers. She didn't want to tell me over phone what they are, so have to wait till tomorrow. Suspense. Grrrrr.

Also, looked at a few more houses and found about 4 that need more research.
Quite a fun day really.
Now how am I supposed to sleep with all this suspense? Feel like a 5 yr old on Christmas eve. What is in those offers?
I will let you know how it goes.

Hi all
Just thought i would post as Jase has taken our 3 boys camping for last 2 nights (hell be back today). Just thought i'd let everyone know that we regrected the first 2 offers made but last night received 2 more, 1 of which we accepted. What does this mean?! All buyers have until 4pm today to put their best offer forward. Cant tell you anything else except our house is soooo quiet with just my daughter and i home. As for the boys they are all having a ball fishing, camping and doing all those boy things with their dad  
flic

Hi everyone
I'm back.
Ready for the news?
Altogether we had the following offers:
330k, 60 day settlement, subject to building and pest
338k, 60days, subject to finance
(both rejected on advice of agent)
342k, 60days, building and pest (accepted so agent could give 24hrs notice to all buyers),
345k, 60days building & pest
348k, 30 days, unconditional
350k, 35 days, subject to bank valuation.
At this point we met with the agent (5:30pm tonight) and she decided to try one more time, so called the 348k buyer and asked him to match the 350k.
He did, so we signed. $350k, 30day settlement, unconditional. The only possible problem is the 3 day cooling off period, but should be ok there.
So needless to say, we are all very pleased with the result.
Now we can get out and find another one.

I will post again soon with some breakdowns of costs etc etc.

Hi
What a day.
The "unconditional" offer suddenly got a heap of conditions added to it.
The buyer went back to have another look at the house and started to pick little problems like the windows need lubricating, and the wardrobes could use some paint on the inside.
They are using the threat of the 3 day cool off period to get these things added to the contract.
Anyway, it just means about 1 more day of work for me, and the offer amount is very good, so I might as well accomodate their wishes.

BTW, I haven't forgotten about posting all the details of reno costs, profit margins etc, but I want to wait until after the contract is unconditional before I put up all that detailed info.

Cheers.