Buyers: Insist on dealing with the "listing" agent..

I agree with this.

But as a side note forgetting the REA's for a moment - If I were the vendor and had been dealing with a prospective purchaser for a good amount of time (as in this situation) - I would have used the new 'bidder' as leverage and a bargaining tool, but at the end of the day, unless the new player was able to offer significantly more then the original purchaser, I would most likely feel a 'moral' obligation to go with the first purchaser. Does that make sense?

Makes perfect sense, In fact that is what I was told .. "The Vendors chose the other party because they have been dealing with them longer"

My concern is that the Vendor was not told that I was cashed up, no finance required and an offer of a quick settlement(verbal, not in contract because the agent told me it will make no difference!), as opposed to the other party still looking for finance with a longer settlement.

While the two offers were for the same amount, I believe mine was much better for the Vendor as I have the cash in the bank!

To avoid all of this, see the original title of the post, Insist on dealing with the agent who listed the property.
 
So, Friday comes, we offer the same amount as the agent told us the other offer was for, with a quicker settlement. We sign the contract and the cheque (.25%) give it to the agent.

My concern is that the Vendor was not told that I was cashed up, no finance required and an offer of a quick settlement(verbal, not in contract because the agent told me it will make no difference!), as opposed to the other party still looking for finance with a longer settlement.

Wait, can you clarify, please; was your offer written or verbal?
 
Wait, can you clarify, please; was your offer written or verbal?

It was on the Contract, signed by me along with the cheque .25%

However the offer of quick settlement was not on the contract because the Agent told me it would make no difference, which I questioned. He also told me the other party was uncontactable and has been for some days, so I figured no need to place quick settlement on the contract, as suggested by the agent.
 
It was on the Contract, signed by me along with the cheque .25%

However the offer of quick settlement was not on the contract because the Agent told me it would make no difference, which I questioned. He also told me the other party was uncontactable and has been for some days, so I figured no need to place quick settlement on the contract, as suggested by the agent.

All NSW sales contracts have settlement periods on the front page - the same page you would have signed - that means that the settlement terms were on the offer you made and received by the vendor.

Standard is 42 days
 
Was your contract signed without a finance clause of any description (i.e., finance unconditional)?

If so, I agree it strange that the vendor would go for a finance clause over an unconditional contract (disregarding pest and building inspections).
Marg
 
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