Can you offer 'any mutually agreeable settlement period?'

[marmalade]

Hi,
In all the info I've been reading on negotiation, it says to figure out whether the owner would prefer a longer or shorter settlement and then include that in your offer.
So I just thought why can't you add something like: 'settlement period to be any period the seller chooses between x days and x days'.
This would seem to be much easier, as it's not always easy to find out why the seller is selling!

 

[Rolf Latham]

sure

any time u like

ta
rolf

 

[marg4000]

Our son got a great deal on his present PPOR as the vendors were selling it to finance the building of their new home. As our son was keeping his present PPOR as an IP he negotiated a considerable discount by agreeing to a 5 month settlement with the ability for the vendor to settle sooner on 14 days notice.

From the "other side of the fence" we sold mum's home last year when she moved into a nursing home. The buyers wanted a 90 day contract as they wanted to sell their present home but this was not a condition of the contract as they had alternative finance arranged if the first house did not sell. We agreed on the basis that as the house was vacant they could settle sooner if it suited them. Their house sold quickly and they settled around 2-3 weeks earlier so they could do a direct move. Mum's house sold within 3 days of listing for over 99% of the asking price, which we felt was on the high side.

Whether buying or selling, you can often get a good deal by being flexible with conditions.
Marg

 

[josko]

Hi marmalade,


It's an easy process and a good idea.

Regards, JO

 

[marmalade]

Sounds good! Why doesn't everyone do this? (Or do they?!)

 

[ianvestor]

Sounds good! Why doesn't everyone do this? (Or do they?!)

I'd prefer to mutually decide on a settlement period during informal negotiations, then write that exact figure on a contract.