Sale of Mutiara View
This property was tenanted to the same tenant for a long time and the tenant has not properly maintain the property. Some walls and the bath rooms has develop molds. The curtain and the sofa is always partially wet when I visited. There is always a strong unpleasant odor throughout the property. When the owner contacted me to market this property, the tenancy is not up yet, therefore we have to sell with tenancy. It was a real challenge. We had many buyers viewing it, however no one will give an offer even though it is selling at fair value. After a while, I suggest to seller to do a minor renovation after the lease end then remarket the property again. Seller was reluctent to invest in renovating the property as he felt in the investment will be wasted as he is already selling the property. Other reason seller has was he has not time to supervisor the renovation. I assure seller that it will not cost him too much and I will supervisor the entire renovation for him. I was also confident to cover the renovation expenses by selling for a higher price for the seller. The next day I gotten some quotations for seller to approve. Total renovation will cost him under $5000.
It took us only a few days to turn around the property after the tenant end the lease.
We sold the property at a higher price the next day after the renovation was completion.