RE valuations

[jimO]

hehe had 2 agents look at a house im preparing to sell, both cold called me i didnt call them, they have both put a price on the house, 90k apart i see the house worth mid 2s (unless its in auckland then 800k) just waiting on a RV now 3 bed full makeover inside and out new carpet ,garage

[jimO]

one of my sons is thinking of buying it, should i give him a discount?

[Anthonyacat]

one of my sons is thinking of buying it, should i give him a discount?

Don't have kids yet, but my intention for this sort of transaction is to give them interest free loans for part or all of the purchase, rather than discounts. It amounts to the same thing, but is different mentally.

[Bobsyouruncle]

My favourite accountant always used to say give your kids nothing till they're 35. Unless they learn to live in the real world they'll never grow and thrive on their own

[jimO]

Don't have kids yet, but my intention for this sort of transaction is to give them interest free loans for part or all of the purchase, rather than discounts. It amounts to the same thing, but is different mentally.

already had a elderly relative living there for 12 years rent free, i feel like getting some money out of it

[Nick G]

Full-ish price but favourable terms, maybe vendor finance or something, pass on the savings from the RE agent, do the (if any) deferred maintenance etc. There are many ways to frame a discount.

[jimO]

Full-ish price but favourable terms, maybe vendor finance or something, pass on the savings from the RE agent, do the (if any) deferred maintenance etc. There are many ways to frame a discount.

no deferred maintenance, house has had complete do over inside and out, nothing to spend, ideal first home or bung some tenants in, also vacant so no existing ferals

[Nick G]

Offer it at market minus what an agent would cost? Your lawyer should be able to draw up a S&P. He gets what's left of the money when you kick on anyway :-P

[jimO]

He gets what's left of the money when you kick on anyway :-P

i like to think i may manage to squander most of it

[DaveW]

Take it to auction with reserve set at the higher appraisal and ask your son the help push up the bids