i have many properties for sale, close to their purchase price, bought them a few years ago in partnership, has become too many to manage. Any one auctioned properties before. Want to get rid of them even at purchase price
If you're in a hurry to sell then you're unlikely to get near your asking price. Houses sit on the market for almost 6 months if the owners don't want to drop their prices by 30% or so. Auctions aren't going to stop that either. Are you not able to rent them out with short term leases and sell them off one by one?
not going anywhere, just a case of bad investments. Properties for sale in randburg, sunninghill, fourways areas. mail me for deatils at [email protected] Properties are rented, but partnership not working too well so we have decided to sell out and call it quits amicably
You can pretty much forget about getting your purchase price unless they are in heavyweight suburbs. I have looked into(and tried)auctions - without any success - you pay for their marketing and they try to earn their com. upon the drop of the hammer. Even if the deal never goes through. There is also a need (understandably?) for them to secure an extended sole mandate as they need to carry the property through the marketing phase into the auction and beyond if the first auction fails. They did manage to find buyers outside the auction process (for some office blocks at a knock down price - which they had failed to auction twice over.) For the rest - I am mostly in land and could care less what the housing market does for the next couple of years. Be carefull of dumping properties too cheaply in a competition to rid yourself of them - (sounds strange - but I think you know what I mean) That said - I dumped some properties at crazy prices early last year and ploughed the money into Anglo, Metair, Pioneer and others which were even priced at even sillier levels - and that has given cause for cheer.