Some interesting recent articles below about neighbours banding together to sell their properties
Family will become instant multi-millionaires in Sunbury property deal
Savvy neighbours join forces to reap big profits from developers
Bentleigh trio sell their properties together as one and strike it rich
How to double the price you - and your neighbours - get for your house
Residents band together to cut ?exceptional? deals
Family will become instant multi-millionaires in Sunbury property deal
AN extended family in *Sunbury are on the brink of *becoming multi-millionaires by cashing in on a huge tract of land they have owned for 30 years.
The family farm, made up of 10 blocks stretching across more than 108ha along Buckland Way, was bought for just $300,000 but is now a prime housing development site with a $70 million price tag.
Listing agent Judy Thanh Truc of LJ Hooker said a developer was expected to snap up the land to build what would essentially be a new suburb south of Sunbury. The group of 10 cousins, close friends and other relatives paid just $300,000, or $1000 an acre, to secure the land in the 1980s.
Back then, it was ?the middle of nowhere?, according to nephew John Culina, who is co-ordinating the joint sale of the 10 blocks on behalf of his family and friends.
?Now the whole area just has houses sneaking up around it,? he said. ?The farm days are over.?
Savvy neighbours join forces to reap big profits from developers
Neighbours in Sydney suburbs are doubling, and in some cases, tripling the value of their homes by teaming up and selling rows of homes to land-starved developers.
Bentleigh trio sell their properties together as one and strike it rich
A CANNY trio of neighbours have hit a multi-million-dollar home run by selling their properties in a job lot to a Chinese investor.
The Bentleigh residents, having chatted about selling up, realised that changes to zoning laws and rising interest from Asian investors had converged to give them a perfect opportunity.
Uniting in an off-market deal, they sold the combined 1985 sq m site at 14, 16, and 18 Bent St for $5.76 million ? up to $2 million more than they could have expected had they sold up separately.
How to double the price you - and your neighbours - get for your house
It happens, but not very often: neighbours band together to sell their houses for substantially more as a group than they could as individuals.
In the case of nine neighbours in Little Street, in Sydney's Lane Cove, "substantially" means almost double market value.
According to the local Village Observer monthly newspaper, an "original" Little Street home on a 750 square metre block would have had a market value of about $1.5 million.
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The price obtained for each of the Little Street houses hasn't been officially disclosed and won't be until settlement, but the Observer reports a sale price of "close to" $3 million.
Residents band together to cut ?exceptional? deals