Cattleman's novel approach to selling property
After some creative and lateral thinking, Mr Godfrey has come up with a new approach to selling that he hopes will make the property appeal to a much wider range of potential buyers. The advertised price is $1.2 million.
What Mr Godfrey is offering is to loan a potential buyer $600,000 at 8 per cent interest.
The purchaser will have the right to either occupy or rent the house, and the Godfreys will then lease back the remainder of the property.
And if you're still not completely satisfied, they will buy it back in five years for $1.35 million.
"I was just thinking if I was a buyer, what would appeal to me?" he said.
Mr Godfrey and his wife own two other properties and have been told by their bank to reduce their debt levels.
He said he had money in superannuation that he can't access until after his 60th birthday, which is why the date for the potential buyback is one day after he turns 60.
"You absolutely can't lose," he said.
Mr Godfrey hopes the offer will allow people who couldn't otherwise afford the opportunity to buy in, or appeal to tree change or sea changers looking for a change of lifestyle, or to security-conscious investors.
When asked why he didn't think the property had sold in the two years it had been on the market, Mr Godfrey said: "If it was one plateau over near Tregeagle I could ask for half as much again, and would probably get bowled over."