Am I being played?

[Endless Summer]

I am looking to by a 3 bedroom single level townhouse in regional Victoria which will be my PPOR initially but I intend to rent out after 12 to 24 months. The property is advertised at $285,000 and has been on the market for around a month. The rental valuation is $300 per week.

I am interested in putting in an offer, however the section 32 is not yet available. The agent is pressuring me to put in an offer subject to review of the section 32 as he says there are other interested parties viewing the property with another agent (from the same agency)and that he isn't privy to their negotiations. He said he can't help me secure the property and that it could sell without his knowledge and to be safe I need to put an offer in writing.

It seems very odd to me that multiple agents from within the same agency would be showing people around the same property and not discuss where they are at with any negotiations. I also know that a sale can not go through without a section 32, so the property could not sell before I get a chance to review it.

I am wondering if I should play the agent's game and put in an offer, or call his potential bluff and wait for the section 32? Thoughts anyone?

 

[Brady]

If you think its worth the asking price and your happy with the property.

Then why not put an offer in?

If you are wanting a discounted price than wait and see if you pick it up cheaper, but run the risk of someone else picking up the property.


He is a REA trying to close a deal, its what they do.

 

[Aaron_C]

Don't worry - he can't sell without issuing the section32. Just wait for it.

 

[thepeoplesagent]

Hi Summer,

Some agencies are “dog eat dog”, so it wouldn’t surprise me if some of the sales consultants don’t communicate about their dealings, offers etc. I’m from NSW, so I’m not familiar with your “section 32”. I am assuming it’s what we refer to as a 149 certificate which is basically a zoning certificate from the local council (apologies if I am wrong).

As Brady correctly stated, he is an agent and trying to close a deal. I doubt he is trying to trick you into buying a property which you wouldn’t otherwise had brought if you were to view the S32.

Good luck with your prospective purchase…

 

[Aaron_C]

Section 32 is a vendor statement disclosing all the details/titles/encumberances etc on the property.

 

[Endless Summer]

Thanks for the replies. I guess I was wondering

a) Could he be telling the truth re: multiple agents showing the one property and not talking to each other?

b) Could there be a reason he is pressuring me to put in an offer prior to seeing the Section 32?

 

[thepeoplesagent]

a) Yes
B) Maybe. If the agent had little morals and wanted Tracy Grimshaw knocking on his door.

@Aaron- Cheers. I learn something everyday!

 

[S.T]

I would be waiting for the Section 32 before putting an offer in and have it reviewed by your solicator if you're not familair with one. There can be lots of information in the S32 that can influence what you're willing to pay for the property.

 

[Terry_w]

In Vic is an agent even able to market a property without a s32?

 

[S.T]

I think they can market, I've been to a few inspections that haven't had a s32 ready yet. But never been asked to make formal offer without a s32

 

[Peter_Tersteeg]

It happens all the time. Vendors put their property on the market but it takes time to produce the S32. Offers can still be made, but not finalized until the S32 is available.

 

[Jtkumnick]

i think the clues you gave might be the answer to your question.

*agent desperately wants you to put in an offer.
*other agents in the office competing.

Agent wants to sell the property before anyone else does. You can bet they dont discuss potential buyers if it means they might not get paid.

 

[Jtkumnick]

I dont really understand how you feel you are being played?

agents get paid only when they sell a property. its not rocket science that if you want to buy a property, they are going to do all they can to sell it to you.

 

[Fourex]

Sales negotiations are a game.

Try putting the ball back in your court.

Hi Agent,

I have viewed another property in the market at $ 260 000 I am still interested in yours however I am concerned about no section 32 and the other parties. Can you get back to me with by X day when the section 32 will be available and do you have any room to move on that price or have the other parties already purchased it?

Reason I need to know is so I can act on this other property or not (of course you can not give details as it is with another agent).

Now you will not be the only one left guessing.

Cheers,

Fourex.