20k to make an offer ?

[wobbycarly]

The agent probably wants you to pay a decent deposit, then get you to agree to release the deposit once the contract is unconditional. Once the deposit is released, HE gets paid!

 

[Zeddy]

btw: I'd ask him for proof that there is another offer.

That's actually really interesting. How do you do that? Do you ask him for a copy of the competing offer with the price blanked out?

 

[rhino80]

Doesn't matter anymore - contract went unconditional today to the other buyer who had their foreign investment funding approved.

Totally gutted & pissed off to say the least. Back to the drawing board.

 

[Melbournian]

Doesn't matter anymore - contract went unconditional today to the other buyer who had their foreign investment funding approved.

Totally gutted & pissed off to say the least. Back to the drawing board.

there u go. u can't beat them

always worth trying to look elsewhere.

 

[Andrew_A]

Doesn't matter anymore - contract went unconditional today to the other buyer who had their foreign investment funding approved.

Totally gutted & pissed off to say the least. Back to the drawing board.

Bad luck, difficult to appreciate now but I often encounter this situation where you miss out on a property you think is great and then soon after something just as good or better appears.

If this it to be a home rather than just an investment then it's more than just a case of looking at the numbers. If you are in a desirable suburb and competing against other home buyers who just have to live there (school catchment area perhaps) then there is a premium you often have to pay.