Hey Guys I am in desperate need of advice, I need to help my dad out because I am really worried about him, long story short the past few years he has been through hell with , bankruptcy depression and health is deteriorating. To make things worse I have just found out he has been negative gearing his property at the moment. He has tenants living there and paying about $900 fortnightly to hold his property after rent paid, that is over 20k a year and the property has very little capital growth after 5 years. My dad is a really good guy and I am flying overseas to support him as I type this, I really need to get his house on the market and sell it so he can cover all his debts and start over. I need to visit several real estate agencies, I went online and downloaded neil jenmans home seller protection guide guarantee below vvv will that be too much for the real estate agents, I mean would they sign something like that? Can someone please give me some step by step tips on how to deal with agents and getting this property on the market asap, I am really desperate I don't think dad would get any profit out of the property as he has other debts to cover but that is a start or else he will be digging a deeper hole everyday !!!
http://www.jenman.com.au/Downloads/Homesellers_Protection_Guarantee.pdf
Just sign up with a local real estate agent that somebody can give a reference to in the local area.
Not every agent is bad and out to try and rip you off.
Just sell the property.
Take a deep breath mate, perhaps 3 of them. Everything is going to work out. It always does somehow.
Which area? perhaps people here can help advise.
Adrian Cahill | AdrianCahill.com Personal Development Expert
http://adriancahill.com/from-investor-to-coach/
Email Me | Phone MeHere since 2002, however things have evolved over the years.
Newbie as has already been don't panic as it is the worse thing you can do.
Calmly assess the agents in the area and interview them all and then look to go with the firm that both you and your Dad feel at ease with.
You want someone who is active in the area but also is both honest and has integrity and understanding.
Going to be a stressful time for your Dad so you probably need to take over the reigns.
Good luck
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
that is a serious problem for you and your family. Have you looked at refinancing his loan? Why is the property so heavily negative? Is it possible that the rent is so far below market? Can your father use the negative gearing losses?
Selling may be one solution but not necessarily the best one.
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