How to sell an Oxley home

Rowen Sinclair and Brad Walker

A surprise windfall of $120,000 has meant one family can provide the best care for their elderly mother both now and into the future having sold their Oxley home.

That extra money was the profit from the added value placed on the family property when it was sold for its development potential rather than as a single home.

The development value boosted the sale from the local average house price of $500,000 up to $620,000.

Brothers Craig and Rowen Sinclair, entrusted with selling the family’s Oxley home, never imagined that one phone call, made out of curiosity no less, would net them substantially more than they expected.

“In late 2016, Rowen and I were faced with having to sell mum’s home of 60-plus years to fund her dementia care,” Craig said.

“Looking at comparative sales in the area, and the state of the house, we were resigned to getting no more than $500,000.”

“I can’t recall how Best Use Real Estate contacted my brother, but I think it may have been a direct mail drop. Based on that approach, we contacted the agent, Brad Walker, for more information, and this is where we got interested.”

Brad advised the family the 810 square metre property was actually on two 405sqm titles, which elevated it to prime development property.

“We never knew, and without Brad’s intervention we may never have known the real added value in the property,” Craig said.

“We were aware of some potential to subdivide because over the past 20 years three other properties in the street had been developed.”

“We had envisaged a retail price. But finding out there were two titles on the property made a big difference.”

“We signed with Best Use Real Estate, the property was on the market less than two months and we received two offers. We accepted the highest offer at $620,000... no finance clauses, the buyer had funding ready to go.”

Without the expertise of the Best Use Real Estate team, their research and marketing to developers, Craig and Rowen could have been left floundering.

Being unaware of the highest and best development use of the property – whether it is subdivision like for the Sinclairs, units or townhouses – can have a huge impact on the sale of the property.

And wading through research or information-heavy development approvals can be a minefield for the uninitiated, particularly for time-poor vendors.

“Brad definitely made the process easy. He did all the heavy lifting on the deal,” Craig said.

“Even when the first offer fell through Brad was out there finding a new buyer.”

What the sale has meant to the Sinclairs is they can comfortably provide for their mother, with a cushion to pay for specialised equipment or extra care if needed. At the very least, it gives them options.

It also spelt the end of an era. They’ve had to say goodbye to the home they grew up in, have fond memories of, and was the scene of an untold number of family events and milestones over 60 years.

“Rowen and I spent weeks clearing out the house and sorting through all the old paperwork,” Craig said.

“It was difficult to do, going through 60 years of history.”

“We found a few gems and a lot was thrown away. But it was satisfying to get everything finalised.”

Craig is glad he made that phone call.

“I want others to know how much Rowen and I appreciated all the work put in and the help and support provided during the marketing and subsequent sale of mum’s place.”

“We can’t thank Brad and the team enough for everything they did to help us.”
The property was sold for subdivision. Construction of the first low-set home has already started.

To find out what your home is worth today please contact Brad Walker - Best Use Real Estate for a FREE report on 0448 887 937.