Hi All,
I had a contract on my PPoR dated Friday 10th Oct, only days before the increase to FHBG commences. The buyer is a FHB and wants to terminate the contract and start a new one dated from today with the same terms so he gets the extra $7,000.
I'm considering whether resigning the contract with the agreed price is a good move for me as I suspect that property prices in the lower end of the market will now increase from what someone was prepared to pay prior to the grant being doubled. Do you think the doubling of the grant will actually push prices upwards? My RE Agent is telling me he doesn't think this will happen.
As I want to buy another PPoR before too long I'm concerned that prices will surge upwards and I will be behind when trying to buy back in.
What is your opinion on the following options that i see I have?
1. Re-sign a new contract for the price / terms agreed to already?
2. Re-negotiate the price so it's $3,500 more - thereby splitting the grant benefit?
3. Not sign the new contract and take the chance that there will be a higher offer in the not too distant future?
I'm not in a position where i HAVE to sell.
My place is a 2 bedroom unit about 7kms from the city so is well and truly in the first home buyer market.
Thanks in advance!
I had a contract on my PPoR dated Friday 10th Oct, only days before the increase to FHBG commences. The buyer is a FHB and wants to terminate the contract and start a new one dated from today with the same terms so he gets the extra $7,000.
I'm considering whether resigning the contract with the agreed price is a good move for me as I suspect that property prices in the lower end of the market will now increase from what someone was prepared to pay prior to the grant being doubled. Do you think the doubling of the grant will actually push prices upwards? My RE Agent is telling me he doesn't think this will happen.
As I want to buy another PPoR before too long I'm concerned that prices will surge upwards and I will be behind when trying to buy back in.
What is your opinion on the following options that i see I have?
1. Re-sign a new contract for the price / terms agreed to already?
2. Re-negotiate the price so it's $3,500 more - thereby splitting the grant benefit?
3. Not sign the new contract and take the chance that there will be a higher offer in the not too distant future?
I'm not in a position where i HAVE to sell.
My place is a 2 bedroom unit about 7kms from the city so is well and truly in the first home buyer market.
Thanks in advance!