Buying in Brisbane

[KangaBanga]

what's the best/easiest way to get a contract of sale from the REA to put in a low offer, like 5-10% below offers over / asking price?

REAs just say that the offer is not high enough, don't want to provide a contract of sale until the offer is high enough.

Do you just say I want to put in an offer, and request the contract of sale first, or do you just make your own contract with offer and email or hand it to the REA?

 

[MIW]

what's the best/easiest way to get a contract of sale from the REA to put in a low offer, like 5-10% below offers over / asking price?

REAs just say that the offer is not high enough, don't want to provide a contract of sale until the offer is high enough.

Do you just say I want to put in an offer, and request the contract of sale first, or do you just make your own contract with offer and email or hand it to the REA?

I always present my offers in writing, I use a template with multiple offers depending upon my criteria (obviously the more I offer the more conditions they will accept, eg early access for measurements), with a deadline date and time...
I always assumed that if the offer is in writing they have to communicate it to the owner, it doesn't need a contract at this stage!

 

[hugh72]

what's the best/easiest way to get a contract of sale from the REA to put in a low offer, like 5-10% below offers over / asking price?

REAs just say that the offer is not high enough, don't want to provide a contract of sale until the offer is high enough.

Do you just say I want to put in an offer, and request the contract of sale first, or do you just make your own contract with offer and email or hand it to the REA?

I wouldn't say 5% under asking price is a low ball offer, it's not Sydney ...yet
You can make verbal offers if you would like

 

[jward101]

Some agents have an EOI Form that I've filled out before. Not sure why they've gone to that extent but I've always put a 48 hour time for 'accept/decline/countering to complete' when we've provided a written offer. Offering a 5% deposit and short/long settlement might work for the vendor if the offer is what they are chasing.

I've pulled out the, "I'd really love to pay the vendor what they are asking but I think its worth this amount" response with agents too.

 

[hugh72]

The EOI form might be to show the vendors and might be used for future marketing. I still get stuff sent from a couple agents years after showing interest in several properties

 

[Rixter]

what's the best/easiest way to get a contract of sale from the REA to put in a low offer, like 5-10% below offers over / asking price?

REAs just say that the offer is not high enough, don't want to provide a contract of sale until the offer is high enough.

Do you just say I want to put in an offer, and request the contract of sale first, or do you just make your own contract with offer and email or hand it to the REA?

I would call the REA and tell him you will present your offer direct to the vendor.

I've used this strategy very effectively when the REA is playing games!

Ive even pulled out my own blank contract and written it up in front of the REA because they have refused to present it or stated the vendor will only accept offers over a certain amount. Its all perfectly legal.

Watching their reaction is priceless.

The vendor will be all ears as well.

 

[JameZ]

I would call the REA and tell him you will present your offer direct to the vendor.

I've used this strategy very effectively when the REA is playing games!

Ive even pulled out my own blank contract and written it up in front of the REA because they have refused to present it or stated the vendor will only accept offers over a certain amount. Its all perfectly legal.

Watching their reaction is priceless.

The vendor will be all ears as well.

How do you get in contact with the vendor in the first place?

 

[Rixter]

How do you get in contact with the vendor in the first place?

If its owner occupied knock on their door, otherwise do owner name search online via property data solutions, council, etc .

 

[Peterw]

Most agents, at the time of getting the listing authority, discuss with the sellers, the likelihood of some one (including other agents) approaching them directly. As the agent is trying to get the best price they can for the sellers, I am surprised that you are not happy, when they are not overjoyed with your low offers.

Generally, when both parties treat each other respectfully, then that gives the best chance of a good outcome.

 

[Logan]

I have tried approaching the vendor directly when the agent had been playing games. I really wanted the house as my next PPOR. I had made several very reasonable offers to the agent, I suspected they just weren't passing them on. Unfortunately it didn't work out. The house went to auction and was sold for 100k over what I expected it to go for (I had already factored in the agents usual 150K under quoting).

 

[KangaBanga]

thanks for all the replies

Asked fora CoS on one property last week, agent sent me a standard contract of sale with nothing on it. He must think most buyers are idiots? Told him I wanted one with vendor's name and title search so I could look at the easements,etc... He sent me a proper one the second time with vendors contacts and title deed but with an asking price 10%+ above comparables. But that's this agents style, always asks high then if no interest do a 5% price drop.

I will be using this method now to obtain the CoS and put in an offer which REA have to present, instead of revealing offer price when asking for the CoS to put in an offer, and then having them tell me offer is too low and not providing the CoS till the offer is higher.

 

[Big Will]

Bit late now however you could always call the agent and say im coming into the office at x time with my cheque book to put forward an offer.

When they ask how much say I haven't decided yet still doing my DD.

If you rock up and the REA isn't there get one of the other sales guys to document the offer.

End of the day by law an agent must present all offers unless the vendor has given a directive otherwise e.g. no offers unless they are above x but this isn't normal as it can one reveal the vendors hands of their minimum price.

 

[KangaBanga]

thanks for the insight big will

I'm putting in another contract soon with an agent who did bring the COS of sale and title which I requested a copy even before inspecting.

Unfortunately the COS has the old address of property of the street along one side of it which is not the frontage and mailbox of property and no seller details other than the name.

Its legal to leave out the solicitor's details until offer is put in and accepted, but is it legal to also leave out contact details like address/phone of the vendors?

Also I will need to pay a fee to get the address updated on the title? The old address has 13 in it which I dont like. haha

 

[RPI]

No need to have vendor's details other than name.