Hi there, I had a thread a while ago asking some basic questions about the buying process, had some good info from the forum, as well as learnt alot over the last few months. I thought I would point out a few things I have personally found during this house buying process.
Real estate agents are special. From the withholding of plans and permits, private bidding wars and all the games that go with it, non returned phone calls, missed appointments, bare faced lies and general surly demeanor, never have I had to deal with people like this in my day to day life.
Reminds me of Lionel Hutz from the simpsons explaining to Marge- the right house is the house for sale and the right buyer is anyone.
There's the truth
and the truth The worst thing is there is still plenty more times I will need to, as I haven't found the house yet.
The 1st time I made a written offer was in the office of a REA, property was asking 350. After much research I valued it at 365-370, So I made an offer for 350 and said this is my one and only offer im not here to play the game. The offer expired before they called back with a counter, it was a good thing I had a sounds of the ocean cd on as I explained to the REA that one and only offer means just that, I offered what they asked, was open to their settlement preference and deposit, what more do you want? And maybe next time to call potential buyers back before the deadline expires.
'How much do you have to spend?' At the start of my endeavors I was polite and skirted around this most innocent question, giving no real answer. Now I use a trick I read about on the forum- stare blankly. Works a treat and makes you look like a psychopath at the same time.
I've been to open houses where the house is basicly a knock down job, to be told its nothing a coat of paint and a new kitchen wont fix. They usually pipe down after I let on I'm a plumber and deal with reno's (and am privy to the costs involved) on a weekly basis.
Council permits mysteriously go missing, sec32's that arent worth the paper theyre printed on.
Had an agent try to take my pen off me while filling out a contract of sale as 'you dont need a B+P im telling you its all good so its all good'
Had an agent nicely fill out MY contract of sale offer to his client, and get his knickers in a knot when I wanted to change nearly everything he had written.
I've been told I couldnt put '10% deposit paid on vendors signiture'
even after I spent an hour in the solicitors office discussing my rights and obligations in making offers, and contracts in general.
Laughed at by an agent for specifying 'fixtures and fittings to be included, and for the house to be clean with no rubbish on site at settlement'
The marketing terms: gently sloping, cosy, quaint, short stroll to...
If its on a hill just say so. if its on a 250m2 block just say so. Getting me 'in the door' under false pretences wont get me to look at your other properties.
Auctions are a joke, with the 'terms of sale' supposedly being something legally binding. Last time I checked I'm honor bound untill I sign. I've seen someone win the auction only to have another bidder yell out '+20k!' and get ushered inside quick smart.
As you can tell I'm more than a little disenchanted with the whole process of buying a PPoR. I've learnt now to hope for the bare minimum of professionalism, and expect less. It still dosent make up for the countless hours arranging inspections, emailing solicitors and banks, compiling sales data and DD, and driving to and from houses, but I've come to terms that as a 1st home buyer at the entry level (-420k) I'm just not worth the time a highly skilled job such as a REA demands.
There are decent agents out there, just not many in my market in my area in Vic.
I'm feeling better now I've had my whinge, feel free to post humerous anecdotes relating to the above.
Or pictures of cats with funny captions
Real estate agents are special. From the withholding of plans and permits, private bidding wars and all the games that go with it, non returned phone calls, missed appointments, bare faced lies and general surly demeanor, never have I had to deal with people like this in my day to day life.
Reminds me of Lionel Hutz from the simpsons explaining to Marge- the right house is the house for sale and the right buyer is anyone.
There's the truth
and the truth The worst thing is there is still plenty more times I will need to, as I haven't found the house yet.The 1st time I made a written offer was in the office of a REA, property was asking 350. After much research I valued it at 365-370, So I made an offer for 350 and said this is my one and only offer im not here to play the game. The offer expired before they called back with a counter, it was a good thing I had a sounds of the ocean cd on as I explained to the REA that one and only offer means just that, I offered what they asked, was open to their settlement preference and deposit, what more do you want? And maybe next time to call potential buyers back before the deadline expires.
'How much do you have to spend?' At the start of my endeavors I was polite and skirted around this most innocent question, giving no real answer. Now I use a trick I read about on the forum- stare blankly. Works a treat and makes you look like a psychopath at the same time.
I've been to open houses where the house is basicly a knock down job, to be told its nothing a coat of paint and a new kitchen wont fix. They usually pipe down after I let on I'm a plumber and deal with reno's (and am privy to the costs involved) on a weekly basis.
Council permits mysteriously go missing, sec32's that arent worth the paper theyre printed on.
Had an agent try to take my pen off me while filling out a contract of sale as 'you dont need a B+P im telling you its all good so its all good'
Had an agent nicely fill out MY contract of sale offer to his client, and get his knickers in a knot when I wanted to change nearly everything he had written.
I've been told I couldnt put '10% deposit paid on vendors signiture'
even after I spent an hour in the solicitors office discussing my rights and obligations in making offers, and contracts in general.
Laughed at by an agent for specifying 'fixtures and fittings to be included, and for the house to be clean with no rubbish on site at settlement'
The marketing terms: gently sloping, cosy, quaint, short stroll to...
If its on a hill just say so. if its on a 250m2 block just say so. Getting me 'in the door' under false pretences wont get me to look at your other properties.
Auctions are a joke, with the 'terms of sale' supposedly being something legally binding. Last time I checked I'm honor bound untill I sign. I've seen someone win the auction only to have another bidder yell out '+20k!' and get ushered inside quick smart.
As you can tell I'm more than a little disenchanted with the whole process of buying a PPoR. I've learnt now to hope for the bare minimum of professionalism, and expect less. It still dosent make up for the countless hours arranging inspections, emailing solicitors and banks, compiling sales data and DD, and driving to and from houses, but I've come to terms that as a 1st home buyer at the entry level (-420k) I'm just not worth the time a highly skilled job such as a REA demands.
There are decent agents out there, just not many in my market in my area in Vic.
I'm feeling better now I've had my whinge, feel free to post humerous anecdotes relating to the above.
Or pictures of cats with funny captions
