an offer with subject to???.....

F

firefox

I am looking to buy PPOR in Melbourne. The problem is I live in SA now. I just missed on one property this week. It was advertised as negotiable over 350K+. I said to the RE agent I am willing to pay 330K(unconditional with short settlement), if I still like it after I get there to see it. The vendor has responded if I put an offer within 340-350K they would look at that. I was happy with that. So I made arrangement to fly over to inspect the property....he calls me next day and says someone put VERY good offer (apparently 370K) yeah sure... and property is SOLD. Well.... I lost an air fare, could not cancel, because it was less then 24H to departure time.
Is there a way I can put an offer in the future with a subject/clause to final approval by purchaser or something like that? I got the feeling if I did put 340K then I would get it.
 
You can do that if you want. But it's a bit hard to buy sight-unseen.....not something I would recommend especially for a PPOR
 
Aaron_C said:
You can do that if you want. But it's a bit hard to buy sight-unseen.....not something I would recommend especially for a PPOR
Click to expand...

You get 3 days cooling off from the time you sign the offer. You could consider giving 24hrs or less for response to your offer and consider inspecting it during your cooling off period (the remaining 2 days). You might have to pay a premium on airfare due to short notice but that might stil work out better than the alternatives.
 
gm12 said:
You get 3 days cooling off from the time you sign the offer. You could consider giving 24hrs or less for response to your offer and consider inspecting it during your cooling off period (the remaining 2 days). You might have to pay a premium on airfare due to short notice but that might stil work out better than the alternatives.
Click to expand...

That would work fine, but is costly... if I do cool-off it will cost me 0.2% of the purchase price.

Dazz :) no problem at all...even quicker if u speed:)))
 
If I was looking at buying a PPOR, I'd make the time. I can understand your current process if it was an investment property, but for a PPOR ... hmmm

Get yourself over there and spend a few days on the ground .... you may see it as a waste of money, but it could save you tens of thousands in not making a major purchasing mistake.

We're are considering moving back to Perth from NSW (we've seen the light .. :p). We are going to take a two week visit in Oct or Nov to narrow down suburbs to match our criterea, speak to agents and view properties with the view to purchasing... We are both from Perth, but have been in the East for 19 years, so we've lost touch even though we make regular trips to visit relatives. Its too important not to get right.

Good luck

Mystery
 
firefox said:
Dazz :) no problem at all...even quicker if u speed:)))
Click to expand...

Worst advice ever. Even if it was a joke. You missed the deal, get on with it and find another without putting public advice out there to break the law and put other road users at risk because your're in a rush to get that next deal.
 
Have you considered renting a place in the suburb where you wish to purchase for six months so that you can conduct a search in a more thorough fashion? Will allow you to get to know the suburb a lot better before you commit your money, and save you having the fly interstate as frequently.

Of course have the hassle of organising the rental and moving twice ...

Something to think about.

Jason
 
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