West Wodonga - shortly after a neighbouring property in a similar condition to his own sold for $425,000, a vendor decided to list his property for the valued price of $390,000.
Around 25 potential purchasers inspected the property, however it was obvious to all that the retaining wall needed to be fixed or replaced, and the property needed a repaint and general makeover. The vendor received quotes of $10,000 to fix the retaining wall and another $10,000 for overall maintenance, but decided to sell the property in its current condition.
EVENTUALLY, the property sold for $320,000. By selling for $70,000 less than the original valued price, and $105,000 less than the neighbouring property, all the properties in the vicinity then immediately reduced in value.
This was as a result of the vendor deciding not to spend the $20,000 initially to bring the property to a “homeworthy” condition. In hindsight, if the vendor spent the $20,000 to “homeworthy” the property BEFORE putting it on the market… The maximum return would have been achieved The valuation would be maintained The neighbouring properties would not decrease in value.
The sale would have been achieved sooner. B.I.C. can undertake comprehensive pre-sale inspections and compliances to help you achieve the maximum return on your property.
NO UPFRONT COSTS…all fees payable on settlement