All Topics / General Property / how can my friend onsell her off-the-plan property?

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  • Profile photo of aoao
    Participant
    @ao
    Join Date: 2006
    Post Count: 49
    November 2, 2007 - 12:04 pm

    Hi all
    A friend of mine bought a property off-the-plan early last year and is considering selling it before settling, reason being she found another property and fell in love with it. (and she has made a small profit on paper so she's happy to on-sell it)

    So how can she on-sell it? Find a real estate agent? go back to the developer? what are the pros and cons? Generally speaking is it difficult to on-sell off-the-plan properties?

    Any help much appreciated
    AO

    Profile photo of ducksterduckster
    Participant
    @duckster
    Join Date: 2004
    Post Count: 1,674
    November 3, 2007 - 5:10 am

    There is an article in the November Issue on Page 76 of  Australian Property Investor Magazine explaining the legal pitfalls that can occur with on selling.

    Profile photo of aoao
    Participant
    @ao
    Join Date: 2006
    Post Count: 49
    November 4, 2007 - 9:05 am

    Hi Duckster
    Thanks for your reply.
    I had already read that article before posting cos that article didn't answer my question. Basically i'd like to know HOW TO sell an off-the-plan property, because i just couldn't find such ads on domain.com or realestate.com

    thanks
    AO

    Profile photo of Michael4Michael4
    Member
    @michael4
    Join Date: 2003
    Post Count: 70
    November 4, 2007 - 9:18 am

    Hi ao,

    The beast is to speak to your accountant on the implications of selling the property of that type and your solicitor for any legal matters that may arrise.

    cheers,

    Michael

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