FAILED - 4 year lease - will not sell till lease is up
This will not be going to market - paid 800+K, currently around 700K, tenanted for 5 years with DHA, cannot terminate tenancy

7/09/2021 - Emma/vendor: Thank you for your email, but at this time we are not interested in selling our property. The lease finishes in four years time, and we will be looking to sell then. I’ll let you know when we are ready to see. Thank you for your email, but at this time we are not interested in selling our property. The lease finishes in four years time, and we will be looking to sell then. I’ll let you know when we are ready to see.
25/09/2020 - Derek: I have spoken with the current owner Emma and given her the appraisal price of $650,000-$670,000. The property is only three bedrooms and two bathrooms. Four bedrooms and two bathrooms are selling around $730,000. Emma would like to get her buying price back of $820,000. In this market she has no chance in getting this price. The property is tenanted for another 5 years. 95% of properties getting sold are to owner occupied, no investors and we cant kick the tenants out by law.
23/09/2020 - Derek: Copy of email to vendor: I understand you are getting a great return however that would not reflect the true market rent. The DHA deal is a good one as they do not drop form the initial rental price the property achieved when it was sold to you. Unfortunately with direct comparable sales like the ones above it is going to be extremely difficult to get a sale chasing the money you are after. Even if we did manage to get a contract the valuation will knock it on the head and the banks would not lend. I am sorry I wish I could tell you different however I must be honest and let you know where you would be sitting at the moment.
23/09/2020 - Adam: I understand you are getting a great return however that would not reflect the true market rent. The DHA deal is a good one as they do not drop form the initial rental price the property achieved when it was sold to you. Unfortunately with direct comparable sales like the ones above it is going to be extremely difficult to get a sale chasing the money you are after. Even if we did manage to get a contract the valuation will knock it on the head and the banks would not lend. I am sorry I wish I could tell you different however I must be honest and let you know where you would be sitting at the moment. If a valuer was to give a bank valuation believe it would sit somewhere between $670k $690k. If a valuer was to give a bank valuation believe it would sit somewhere between $670k $690k