Anonymous offer

[Denkel]

Is it possible to make an offer on a property anonymously i.e. the identity of the purchaser remaining unknown to the vendor until after the contracts are exchanged?

The purpose would be to puchase from a vendor who is known to me and would probably be reluctant to sell to me if they knew who it was.

Let me be quick to add that I am not in this position but I AM keen on a neighbour's property and we currently have good relations. "Fore-warned is fore-armed" and I am well aware of how quickly those "relations" can sour, even over minor issues.

Kel

 

[Peter_Tersteeg]

No vendor in their right mind would take a property off the market if the offer did not have a name on it.

What you can do is find a friend you trust who is unknown the the vendor, and have them purchase the property, signing "Mr X and or nominee". After the offer has been accepted and contracts have been signed, you have 14 days to change the name of the purchaser to yourself/company/trust etc.

This is done quite a lot so the RE will have no problem with the procedure. This is often used when the purchaser cannot make it to an auction, or is unavailable for some reason when the offer is made.

 

[Kristine..]

Denkel

Keep in mind that the original named party on a contract is responsible for the execution of the contract.

So if you do decide to ask someone else to sign on your behalf, and you reneg, they can be held to the purchase.

Why not have a quick word with a solicitor. Perhaps you can appoint a power of attorney. Or simply submit a reasonable offer to your neighbour through the usual channels.

Good luck

Kristine

 

[MarkB]

Denkel

Your situation reminds me of something that happened around Ballina fairly recently.

A particular parcel of prime land (all but beachfront) was put out to tender. I believe that there were 3 tenders recieved and that the highest tender was rejected owing to too many conditions.

Tender went to one of the other parties, who then transfers rights to a company with 3 shareholders - the same three who tendered (separately) originally.

Sale price - $10 m or so. One of the developers is on the public record for saying how lucky he is and how he expects him and his partners to split $15 m or so in profits.


The other point I would make is that in spite of your name - your money is the same colour as anybody elses.

If you get my drift.

MB

 

[D.T.]

Hi,

PT Bear,
In WA, Im not sure about other states, if you use the J Smith and/or Nominees thing on a contract you can be hit with double stamp duty if the nominee ends up buying.

Denkel,
An easy solution for your problem is to not buy it in your name. What's stopping you from buying it in a trust or company?

-Regards

Dave

 

[NigelW]

Originally posted by Denkel
Is it possible to make an offer on a property anonymously i.e. the identity of the purchaser remaining unknown to the vendor until after the contracts are exchanged?

The purpose would be to puchase from a vendor who is known to me and would probably be reluctant to sell to me if they knew who it was.

Let me be quick to add that I am not in this position but I AM keen on a neighbour's property and we currently have good relations. "Fore-warned is fore-armed" and I am well aware of how quickly those "relations" can sour, even over minor issues.

Kel

In some jurisdictions there is an ability for an "agent" (i'm using the term in the legal sense as someone who acts for you on your behalf - not referring to a RE agent here) to buy for an "undisclosed principal"...and for there to then be a Transfer by direction...Ultimately though the purchaser will be disclosed on the land title register...but by then the deal's well and truly done

Talk to you solicitor...but I think it will only be fairly rare circumstances where you'd want to do this kind of thing...

Cheers
N.

 

[HowDo]

Guys
This kind of thing happens all the time when the buyer uses a buyers advocate. Its very common and simple. Just buy in the name of whoever and/or nominees.

 

[NigelW]

Originally posted by HowDo
Guys
This kind of thing happens all the time when the buyer uses a buyers advocate. Its very common and simple. Just buy in the name of whoever and/or nominees.

Hi HowDo do dee (sorry couldn't resist)

But doesn't the buyer's agent still get his clients to sign the contract and transfer? If not, there's probably an argument that a power of attorney registered with titles office would be needed to sign the tranfer on behalf of buyers...

my point is that ultimately, unless a true undisclosed principal-agency relationship exists (demonstrated by documents) the seller will get to know who the buyer is at a point where it's still not too late not to sell AND there's a much higher risk of double stamp duty ...and that's a big ouchie!

with true undisclosed principal arrangement it IS too late for Seller to do anything about it when they find out who REAL buyer was...

my 2.2 cents

cheers
N.