Need to sell your investment property quickly? Don’t panic
Given interest rate rises, we are likely to see more people needing to make a fast sale of their investment property. This allows them to streamline their finances to increase their cash flow or put money into their own home mortgage.
Here’s what you need to know about selling in the current market.
Stay calm!
If you need to sell your property fast, the first thing to do is stay calm. There are plenty of buyers around, so if your property no longer suits your needs or finances, be assured that we can find you a buyer. Once you’ve made the decision, focus on the sale.
According to CoreLogic, sales in Sydney increased by 1.3% in April, so it appears that people are moving back to the city. And, prices are trending upwards. This comes as a result of the imbalance between supply and demand.
Plus, the rise of overseas migration has also resulted in a strong demand for rental properties in and around the Sydney area. In fact, the current vacancy rate is still sitting at around 1% in Sydney. This means that there are currently buyers who are keen to purchase because they simply can’t find a suitable rental property.
In addition, new listings are still relatively low compared to previous years, so you can assume that when you put your property on the market, it’s likely to sell fairly quickly.
Get the best local advice
In times like these, it’s important to deal with an agent who is fully versed in the current market and has a professional track record.
We’ve been serving the Neutral Bay area for many years and know the market extremely well. As an independent agency, we pride ourselves on our local knowledge and the fact that we’ve been able to help locals sell their properties quickly and at a good price, often helping the same clients many times over.
As a seller, it’s important that you deal with a professional agent who has a long and sustainable track record rather than go with someone who may suggest a higher price that you might not ultimately achieve anyway.
We understand the local market and will suggest a reasonable price to ensure your property sells quickly and without too much fuss.
Get your property ready
If you’re selling an investment property and there are still tenants in place, this is not a problem as we deal with this on a regular basis through our agency. In fact, having tenants in place can be a good drawcard for another investor looking to purchase a property like yours.
In addition, we can help with property management and have sold many apartments with tenants still in place. This means that the new buyer is already guaranteed an income once the property settles.
On the other hand, if the tenants do decide to move out, we can quickly help the buyer to find new ones and this will give you an excellent opportunity to do a few cosmetic updates to get your property ready for sale.
You can do things like giving the interior a new coat of paint, updating the floor coverings if needed and ensuring that the place looks nice and fresh for the potential buyer.
If you talk to us first, we can advise you on what you can do to achieve a higher sales price and a faster sale without over-capitalising on any renovations you might be considering.
Thinking of selling your investment property? Call us today
If you have an investment property that you need to sell quickly, feel free to give us a call for a no-obligation chat. We’ve helped many investors sell their property quickly even if there are still tenants in place.
