Summary
We were tasked with managing the sale of an investment property for long-term clients. Initial assessments revealed the property’s lacklustre condition, prompting our recommendation for a comprehensive refurbishment to enhance its market appeal. Following the refurbishment, the property was transformed, leading to immediate and strong market interest. This strategic approach resulted in the property selling for $165,000 above the highest initial appraisal, affirming the value of our expert guidance and meticulous oversight throughout the sale process.
Key Points
During our consultation, we presented two options to our clients: continue selling the investment property with the current tenant in place or undertake refurbishment after gaining vacant possession. We recommended the latter, believing it would significantly enhance the property’s market value. Following our advice, the clients agreed, leading to the tenant’s relocation and extensive renovations. This strategic decision, coupled with our expert management, maximized the property’s appeal and market performance, resulting in a highly favourable sale outcome.