Negative gearing properties are either property that is unattended for a long time, may be due to non–availability of renters or was supposed to be sold but couldn’t find suitable buyer.
A property owned by me was lying idle since long time. I was planning to sell it but due to either unavailability of proper buyers or due to fewer rates, I couldn’t sell it. Moreover, it was away from the place where I live and so, I couldn’t maintain it also.
At last, I decided to get in touch with Vendor Finance and get my property sold. I informed them the rate expected by me and after going through the details / location they agreed to get it sold. I received a call from them after two months informing that they have found the buyer at the rate I wanted.
I was trying to find a buyer since last two years, but couldn’t find one and they found it for me within two months. All the documentation procedures were completed.
I now felt relaxed as I don’t have to anymore think of that property being ruined and even if it has remained as a negative gearing one for two years, I have got the money I expected.
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