Making an offer

From: Jay Hunter


When People make an offer on a property... do they normally run the contract past their solicitor first or wait for the offer to be accepted and then get out if there is anything wrong/do not like something in the contract. can you change the contract once the offer has been accepted ? e.g 10% Deposit --> 5% etc...

I'm sure this is simple and silly question to the more experienced... but give me time :)

also if the R.E.A says offers above 450K for example... can I put an offer in at say 425K or am I wasting my time ?


Thanks

jay
 
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Reply: 1
From: Robert Forward


Why wouldn't you put an offer below what they say. Just because they say that or it is in writing doesn't make it true and/or legal or you simply can't do it.....

Throw in a low ball offer, how do you know if it is going to be accepted if you don't ask.

And remember if they RE Agent gets upset over the low ball offer then that is their choice not yours, they'll eventually get over it.

Cheers
Robert
 
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Reply: 1.1
From: Paul _


Robert,

Do you give that offer verbally or in writing. If its in writing, is it a simple letter from yourself or do you go into RE office & sign their form.

Sorry - I'm new to this as well.

Regards, Paul
 
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Reply: 1.1.1
From: Robert Forward


I do all of the above. It depends on what the RE agent wants and what I can talk him into....

Robert
 
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Reply: 1.1.1.1
From: Carly Henderson


Hi Robert,
This is all part of the negotiation process, sure you can make a low ball offer, it is entirely up to you, at the end of the day your not going to pay more than what your comfortable paying and a vendor (the owner) isn't going to sell for anything less either, R.E.A s are the meat in the sandwich, and if their client is telling them that they wont take anything less than 450k then chances are they wont..doesn't hurt trying sure..but remember a home is someone's castle and they love it, be careful not to insult them as they may refuse to negotiate if you get off on the wrong foot from the beginning, you don't need to put anything in writing until you've agreed on price, your solicitor will then negotiate the contracts, until exchange, where you will be required to pay your deposit 5-10%. hope this helps.Brian
 
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Reply: 1.1.1.1.1
From: A. .


Hi Robert,

Once you put the offer in writing, you will signing a contract. You need to stipulate what you want before you sign the contract.

If you are buying in Victoria then have a look at my website.
http://www.lowcostservices.com.au

Regards,
Ashley
 
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Reply: 1.1.1.1.1.1
From: Robert Forward


Hi Ashley

Yes I know that, but thanks anyway.

Cheers
Robert

PS: I do a lot of property investing, but I do it outside the normal squares that RE Agents like home buyers to be in. It makes life fun though.....
 
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Reply: 1.1.1.1.1.1.1
From: Juzz O'K


Sometimes the agent may say the offer is
too low, but if you tell them to offer
it to the vendor(by law they're supposed to)
then you may have some luck.
Especially if the vendor has some timing issues you may be lucky.
If you make an offer & know your own finance
capabilities beforehand (& pls dont tell them your financials)they'll know your serious.
Try to find out the vendors situation(Solicitors, financier, reason for selling etc) if you do you'll have the upper hand.
Try this.. Give the agent intention you want to buy more than 1 from him.
I'm sure the agent will try his hardest to get you a great deal.
 
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Reply: 1.1.1.1.1.1.1.1
From: Robert Forward


Here is a new one for you all.

Start with a low'ish offer and then start dropping the offer price.....

You'd be amazed what people (Vendors and RE Agents) start saying and doing when you do this.

But it works for me, in the right circumstances though.

Cheers
Robert
 
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