The Durban house is nearly finished and ready to go on market with the custom window frames holding things up. I see Tuesday as the final day of work with the frames expected sometime on Monday.
The boundary wall has been painted and we will get the pool blue and electric fence finished off plus the distribution board will be checked and certified as compliant so we have a COC certificate. This is working out well as my electrician overseeing all the repair work is the person who can do this and supply the certificate.
I have an idea of a valuation price and today had an agent confirm that price albeit slightly under the original target which I am happy with. One has to be realistic what the market will pay and pricing any property correctly is key to a quick sale. As expected the tenant who wants to buy the property was rather negative when showing the agent around with an ulterior motive of making the valuation as cheap as possible. This was expected and why I asked for the valuation early before we are done on Tuesday.
This gave me time to sort the tenant out and have spoken to them this evening telling them the price the property will go on the market. This was going to gauge whether they were in the ball park or not and they were nowhere near falling short by roughly 30%. I have no idea what they were thinking and there homework relied on other properties selling further down the road that were half the size. For them this is not good news meaning they need to find a new property to buy or rent and will only realize and appreciate what they had here.
Like I had feared with all the delays the window for selling properties is only 3 months and we have already burned up half that time and need this property listed next week. The aim is to have a show house on a Saturday in two weeks time and the hope is the property sells quickly. Having a depressed tenant around is not ideal and at least the estate agent is aware of this situation now. If there are any more problems then they must move out early because I can see them trying to delay any sale until after the new year which is not going to be allowed to happen.
Whatever plans or dreams they had of buying this property have been dashed and they have clearly done me no favors so they are not my concern. Their plan of trying to get a low ball valuation which was obvious has not worked and my only goal is tog et this sold as quickly as possible whilst we have buyers lined up and looking.
The plus side is the area has very little stock and from what I have been told there is only 3 properties on the market which is very good news. A larger family or an investor will be interested in this property for the accommodation it offers. I can understand an investor that rents it out as there is good money to be made in that particular market and this property would offer 3 or 4 individual rentals.