Recent content by MelInvest

  1. M

    Sold to lower bidder at auction -- HELP please

    Thanks for the info Propertunity.
  2. M

    Sold to lower bidder at auction -- HELP please

    Thanks....I did have a word with my solicitor but he said if I was the highest bidder without the vendor bid I could have had the exclusive right to negotiate. But alas that wasnt the case so legally I cant chanllenge the REA for what he has done(remember he is 1/3 owner fo the property as...
  3. M

    Sold to lower bidder at auction -- HELP please

    Hi Michael, Thanks for your reply and insight. I agree I should have tried to close the deal that night itself. I think I was just venting my frustration out here on SS instead of analysing the situation and moving on. Anyway, I have learned from this mistake and I'm simply grateful to SS...
  4. M

    Sold to lower bidder at auction -- HELP please

    Hi Jezza, Thanks for the wishes. My offer was $342K, same as the vendor bid. Yes usually the REA tries to finish the negotiations within an hour but he said to consider my offer of $342K he would need to speak to vendor (his partner) and get back to me next morning. If the vendor agreed he would...
  5. M

    Sold to lower bidder at auction -- HELP please

    Maybe ? Maybe not..... I'm new to this ball game. As Propertunity says I might get a better deal but might have to wait till next year as missus and I are expecting our second bub in Nov. She'll be on maternity leave for 9 to 12 months. So i guess PI might have to wait till then.... or maybe...
  6. M

    Sold to lower bidder at auction -- HELP please

    Perp, my final offer would have been $345K as I had intended not to go further than that. When my offer of $342K was not accepted(I was ready to sign that very night) I was asked to wait till morning. There was no question of written offer (probably u r right I should hav done that just to make...
  7. M

    Sold to lower bidder at auction -- HELP please

    Thanks....I'm still learning this PI game. FYI... this was my first auction and I had read a lot on SS and sort of prepared myself for the event. Maybe there is something better in the pipeline.....:)
  8. M

    Sold to lower bidder at auction -- HELP please

    No perp, the offer he accepted was a lower offer. He confirmed this with me today and said it was in error. The reason I feel let down is I lost because of his goof up and NOT because I hadn't put my best offer. I think my offer was the best and I was ready to sign the deal last night itself...
  9. M

    Sold to lower bidder at auction -- HELP please

    Y-man, When I called the agent, he said the property was sold for $341K when my offer was $342K. He did admit that it was his genuine mistake and he had lost money on this deal but it was too late to stop the contract. I asked him if he could speak to the buyer that it was a genuine mistake on...
  10. M

    Sold to lower bidder at auction -- HELP please

    Thanks Propertunity. Well even if take on board that he didn't like me, the assurance he had given me before the auction is "this property won't be sold without you getting a chance to put in your best offer." Alas, I'm starting to realise that I shouldn't take anything that a REA says at face...
  11. M

    Sold to lower bidder at auction -- HELP please

    Hi, Very new to Somersoft forums. Anyway, I had been for an auction last night to secure my first IP. I was the highest bidder amongst all but the property was passed in with a vendor bid of $500 more. I then tried negotiating a sale price with the agent (who also happens to be vendor with...
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