Buying Privately

[Out Classed]

Wondering if someone could put me on the write track here I am currently seeking a new investment or 2 and will be doing some private advertising to find what im looking for in local papers and the likes,
What I need to fine tune in my plan is how to go about it once we have a potential buy as normally a real estate agent has a contract of sale ahead of time.
Is it as simply as telling the potential seller to go draw up a contract with the agreed price and conditions by there choosen solicitor and then have it forwarded to my solicitor.
Love to hear from otheres who have been down this road before on all aspects of this type of purchasing.
Cheers

 

[Propertunity]

Is it as simply as telling the potential seller to go draw up a contract with the agreed price and conditions by there choosen solicitor and then have it forwarded to my solicitor.

Yes, it is as simple as that.

Personally, I don't know why you'd be bothered doing any private advertising to find a seller. There are plenty of sellers on any number of web-sites that have already identified themselves as interested in selling their property.

 

[Out Classed]

What websites are you referring too propertunity,
Thanks for the reply.

 

[Propertunity]

What websites are you referring too propertunity,
Thanks for the reply.

www.realestate.com.au
www.domain.com.au
www.homehound.com.au
www.owner.com.au
www.diysell.com.au
www.noagentproperty.com.au
www.smartvendor.com.au
www.comfree.com.au
http://www.buymyplace.com.au
http://realestateyourway.com.au
http://www.dinkos.com.au/
http://houses.ontheinternet.com.au/

for a start.

 

[gottabespotless]

Yes, it is as simple as that.

Personally, I don't know why you'd be bothered doing any private advertising to find a seller. There are plenty of sellers on any number of web-sites that have already identified themselves as interested in selling their property.

Not always so. I once bought a property by placing letters in the letter boxes of properties I was interested in looking at with intentions to buy. I didn't do this until I was 'unconditional' and knew I wouldn't be stuffing anyone around. Turns out, I received a phone call from an owner who showed us through and, after the usual inspections, valuations, etc we bought the place. The vendor was happy as he saved himself about $20 000 in agent's commission (he said that the hefty chunk of his sale price that the agent would get was the reason why he was putting off listing it for sale) and we were equally happy as we didn't have to 'settle' for buying one of the crappy properties that had been for sale over the two years or so we'd been looking. We even got the place a bit cheaper as I was quick to point out how much commission we were saving him.

Good luck.

 

[random]

Not that I'm saying don't buy privately, I have and like to myself. But right now we're trying to get one through that I bought privately and am I wishing it was with an agent.

The financings been hard and it's dragged on due to a few other things also . About now[6mths] it would be nice to have a middle man making the dirty phone calls instead of me.

Cheers

 

[Out Classed]

Thanks for the replys,
Both my motives for going this way were mentioned by gottabespotless, Agent commissions are a negotiation point and None of the crappy listings are what I am after.
Finance is approved already and I have back up Equity & savings if needed.

 

[JohnHenry]

What websites are you referring too propertunity,
Thanks for the reply.

or alternatively you can go to buyers agent.

 

[piaatcaso]

Easy

Wondering if someone could put me on the write track here I am currently seeking a new investment or 2 and will be doing some private advertising to find what im looking for in local papers and the likes,
What I need to fine tune in my plan is how to go about it once we have a potential buy as normally a real estate agent has a contract of sale ahead of time.
Is it as simply as telling the potential seller to go draw up a contract with the agreed price and conditions by there choosen solicitor and then have it forwarded to my solicitor.
Love to hear from otheres who have been down this road before on all aspects of this type of purchasing.
Cheers

I done it plenty of times before. Just like you have said.Get their solicitor to draw up a contract for sale and forward it to yours.

 

[our obsession]

I've bought private, just got my solicitor hooked up to their solicitor, no real estate agent/or commission transpired.

I think the cost was for me, $600 conveyancing and a bit of something for other stuff, was a few years ago, would need to ruffle through boxes of paperwork.