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  1. #1
    Join Date
    Oct 2015
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    191

    Default Selling pre-settlement

    How do you do it? Where do you find the buyer? Any experience and story?

  2. #2
    Join Date
    Apr 2016
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    2,343

    Default

    You simply find a buyer. It is called contemporaneous settlement where you effectively buy and sell on the same day.

  3. #3
    Join Date
    Oct 2015
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    191

    Default

    But how do you show the house to the buyer? Do you use the same agent you bought from?

  4. #4
    Join Date
    Apr 2016
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    2,343

    Default

    Those are big questions to answer in a forum. Generally when I was doing this full time I had an agent to buy from and another to sell from. I always favoured private sales when I was buying so only had one side with an agent.
    There are various ways to achieve the process.
    I used a clause allowing me access to show prospective buyers and I would disclose that I was trading the property. Subsequently I never had issues with access etc.
    The market has changed quite a bit so some sellers will be less keen on allowing you to do this, especially with all the nonsense in the media. Nevertheless I have done 4 trades this year and had no issues with any sellers. Tell them up front what you are doing and why they should let you and the worst they can do is say no.

  5. #5

    Default

    What Bobsyouruncle said. Basically you ask the vendor for access. If you just tell people what is happening it normally is OK.

    Make sure you understand the tainting rules also.
    Free online Property Investment Course from iFindProperty, a residential investment property agency.

  6. #6
    Join Date
    Oct 2015
    Posts
    191

    Default

    Thanks both. TBH, it sounds quite hard in terms of finding buyers, I just don't know how people do it.

  7. #7
    Join Date
    Apr 2016
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    2,343

    Default

    You can learn to be a trader which involves finding sellers and buyers. it's a skill you can acquire. Involves, amongst other things:

    Building a list of investors to sell to.
    Cultivating relationships with real estate agents.
    Learning to always be asking people if they are looking to buy or sell a home.

  8. #8

    Default

    You have a sell strategy and work backwards from there. We work with traders quite frequently.
    Free online Property Investment Course from iFindProperty, a residential investment property agency.

  9. #9
    Join Date
    Oct 2015
    Posts
    191

    Default

    What do you mean by sell strategy? Can you give an example?

  10. #10
    Join Date
    Oct 2015
    Posts
    191

    Default

    Quote Originally Posted by Bobsyouruncle View Post
    You can learn to be a trader which involves finding sellers and buyers. it's a skill you can acquire. Involves, amongst other things:

    Building a list of investors to sell to.
    Cultivating relationships with real estate agents.
    Learning to always be asking people if they are looking to buy or sell a home.
    I wish there was a book that teaches you how to these thing step by step. Like when you meet other investors, here's a list of questions you can use to make connection etc.

    Cultivating relationship sounds simple but it's damn hard. This is where I look at people and just wonder how they do it? I ask questions but actually forming a lasting relationship is much more difficult.


 

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