The property in question:
https://m.realestate.com.au/property-house-qld-trinity+park-119720583About me: in 2007 i was at uni studying. I was young and nieve, and clearly showed too much trust….and only just turned 18. Today, almost 27, i am well “educated” due to “life experience.”
Story in nutshell:
In 2007, i was asked to be the property “owner” of a block of land. My uncle, an accountant wanted to hide money from his ex-wife and still make money at the same time.At the time, my mum was about to buy an investment property in the same street we lived in. My uncle convinced my mum to buy a property together. But he needed to distance the money as far possible from himself. As a numbers man/ accountant and family member he convinced me to be the “owner” on paper. I would have nothing but my name to do with the property.
My uncle let down the “team”! I have had everything to do with the house from building and planning the development thru to maintaining the house after tenants trashed a million dollar house and then sued me (and won). I have also had numerous other issues with tennants, my uncle (has never once made a repayment on the house) and horrible body corporate who fine me because somebody parked on the grass infront of the house. To attempt to fix a problem my mother and i moved into the house but can not stand the snobby neighbours. My mother and i have had nothing but greif.
I have been so depressed for 8 years because the only way to change the situation is to sell. Sadly, its not selling due to the economy. The property has been on and off the market for almost 3yrs with different agents. In the entire time only 2 people have viewed the house.
How do i sell a house, without loosing my sanity, the money everybody (except my uncle) have put into it and without going bankrupt?
Its just like a never ending pressure in my life just to make ends meet to sell the house. The house is vacant after numerous bad experiences with tennants. I honestly could not clean up a million dollar house after shitty tennants one more time. The house is currently listed at $830k. This is already a loss for the amount of money put into the house.
What do i do?
Sorry to hear about your situation – it’s a tricky one.
I also live in Trinity Park and have seen your property on and off the market for a little while. First up – any reason you picked an agent from Redlynch to sell the property? I’ve wondered this as I drive down Reed Rd what would motivate someone to chose an agent from Redlynch.
Being in a gated community can be a turn off for some people, there is the perceived security but from what I’ve heard from people living there, that can make them a target too. For me the main turn off was when I was looking to buy was the body corp.
The property itself is on a large block, but I wonder if there’s much demand for dual living? If I was shopping in the $800k price point I would be more drawn to a waterfront place in the Bluewater estate.
Have you received feedback from the agents as to why there hasn’t been much interest? With the place being empty it would be harder for someone to visualise living there, looking into staging the property may be an option? I see also there’s no open homes scheduled either. I think holding opens may assist as it will get people in the door and what their $800k would buy them.
As a whole, the market on the Northern Beaches is starting to really pick up with confidence rising and I think there will continue to be gains for the foreseeable future.
Kinnon Bell | Kinetic Funding
http://www.kineticfunding.com.au
Email Me | Phone MeMortgage & Personal Loan Broker based in Cairns and Melbourne but servicing clients Australia wide.
The only two real influences you have on the time it will take to sell your property is marketing and price. If your marketing is handled by a capable agent then realistically, you can either reduce your price until the market jumps on the property, or ride it out for the price.
When you sell a property you can choose the price or the time it takes to sell, it’s a fine balancing act!
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This reply was modified 9 years, 6 months ago by
Corey Batt.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
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This reply was modified 9 years, 6 months ago by
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