SELLING BELOW PURCHASE PRICE! My vendor purchased this dream property in 2023 for $1,688,000 but life has changed for him, he wants it moved - so his loss could be your gain."
Not only has the vendor's life changed but also his bank balance which is now almost $300,000 lower than it was in 2023, after taking into account the stamp duty on purchasing, the agent's commission on selling, and the legal fees both times, because the property sold for a mere $1,475,000 four days ago. And there will be many more riches to rags stories after Labor put the boot into the real estate market and the rising interest rates also begin to bite. The only ones who "cleaned up" were Pam and Jack who bought the place in 1998 for $240,000 and resold it fourteen years later for $1,475,000. Those were the days!
Only time will tell if $1,475,000 was a bargain. Not that it worries me. I've resigned myself to the idea that I will end my days at "Riverbend" which you can see in the photo below in the bottom left-hand corner.
Life could be a lot worse than living here while dreaming of being someplace else!
