First IP

[Mscholard]

I have just submitted an offer on my first IP and after few days of going back and forth with offers with the agent I think we have come to a stand off. Where we are now 10k away from each other. At the moment I'm in no position (financially) to offer any more, are there any tips or recommendations for me to get her down to our final offer. HELP!!

Thanks,

 

[Redom]

Any position to negotiate on conditions? E.g. faster settlement, etc?

 

[Kate Ashmor]

Why not just hold your ground, refuse to budge and wait, using your best poker face. It might take a few weeks, but if the vendor has nobody else, they will sell it to you. If you miss out, there will be plenty of other fish in the sea!

 

[j_p]

Sounds like you're quite attached from your brief post. Walk away, great deals come about frequently but a bad decision can hurt for a long time.

Walking away might get them down that last 10k as a bonus.

 

[Macca]

I have just submitted an offer on my first IP and after few days of going back and forth with offers with the agent I think we have come to a stand off. Where we are now 10k away from each other. At the moment I'm in no position (financially) to offer any more, are there any tips or recommendations for me to get her down to our final offer. HELP!!

Thanks,

Dear Agent,
I would like to buy xxxxx but I have gone as far as I can go, I will leave my offer there for another 48 hours while I start looking for another one. If the vendors have not accepted my offer by then, then I withdraw my offer.

Should it happen that the vendors change their mind then feel free to contact me, if I haven't bought something else in the mean time, we may still be able to do the deal.

best regards, Mscholard

 

[citystar]

I would wait for them to contact you, while you search for other good deals which are just around the corner.

 

[Jamie M]

Why not just hold your ground, refuse to budge and wait, using your best poker face. It might take a few weeks, but if the vendor has nobody else, they will sell it to you. If you miss out, there will be plenty of other fish in the sea!

Yep - this is what I'd be doing.

Tell them that you've reached your limit in terms of how much you're able to borrow so that's it - your last and final offer.

Let them know that you'd be willing to accommodate a shorter/longer settlement, etc if that helps.

Cheers

Jamie

 

[Mscholard]

Thanks everyone for your replies, I took everyone's advice and stood my ground. There's an open house at the property tomorrow so hopefully this QLD weather scares everyone off and they might come down to my offer next week, fingers crossed!

Thanks again,

Mscholard

 

[knightm]

Thanks everyone for your replies, I took everyone's advice and stood my ground. There's an open house at the property tomorrow so hopefully this QLD weather scares everyone off and they might come down to my offer next week, fingers crossed!

Thanks again,

Mscholard

Whether you get the place or not you just did the right thing. When you wake up in sweats remember it is an investment, you don't have to live in it and if you miss it, there will be another.

Hang in there.

 

[Colin Rice]

The opportunity of a lifetime comes along once a week!