Hi all, I'm looking for some advice on pricing strategy.
We've decided to sell our duplex in Orillia. It needs some lipstick & rouge (minor repairs and cosmetic work), especially in one unit, but we prefer to sell "as is" and leave the work for a new buyer. We figure this gives them the chance to put in some sweat equity while saving us the time and effort. I realize this means discounting the price and that's fair. However, the property is not a dog. It has a great long-term tenant in one unit and loads of potential for higher and better use.
So my question is how much to discount the price (compared to average market prices) for the "as is" aspect of the sale vs how much is "higher and better use potential" worth?
Any thoughts on this greatly appreciated.
Thanks,
Jackie
We've decided to sell our duplex in Orillia. It needs some lipstick & rouge (minor repairs and cosmetic work), especially in one unit, but we prefer to sell "as is" and leave the work for a new buyer. We figure this gives them the chance to put in some sweat equity while saving us the time and effort. I realize this means discounting the price and that's fair. However, the property is not a dog. It has a great long-term tenant in one unit and loads of potential for higher and better use.
So my question is how much to discount the price (compared to average market prices) for the "as is" aspect of the sale vs how much is "higher and better use potential" worth?
Any thoughts on this greatly appreciated.
Thanks,
Jackie