Making Offer?

[Quick Learner]

In WA when Submitting an offer with an agent what options do you have after making your first offer and the offer is declined and no counter offer made. Should you make another offer considering your fist offer was below your max purch price?

How do you physically make a second offer if you did because the original O&A is sitting with the agent. Would you write up another offer on a O&A form for non REIWA members and fax it to the agent.?

Do any of you guys make your first offer to the agent via fax using a O&A for non REIWA members or do you only go to the RE agents offer to write it up. Are RE agents happy to receive first offers via fax.

Thanks as always,

QL

 

[Bargain Hunter]

Hi QL,

I prefer verbal negotiation and would only submit an offer in writing once it was fairly clear that we were in the ballpark. The problem with a written offer without prior negotiation is that the vendor or agent may only focus on the price.

Never made an offer in WA so not sure about the need to use an official form. If a written offer is submitted we do so on our letterhead. The offer is not binding, it is an offer and subject to the signing of a contract.

Regards

Andrew

 

[redwing]

In WA when Submitting an offer with an agent what options do you have after making your first offer and the offer is declined and no counter offer made. Should you make another offer considering your fist offer was below your max purch price?
The owners probably just dismissed it..as most properties are currently selling"above"asking prices, not many bargains about ATM with residential properties from what I've seen

How do you physically make a second offer if you did because the original O&A is sitting with the agent. Would you write up another offer on a O&A form for non REIWA members and fax it to the agent.?
Get the agent to fax it to you..cross out the price and make your offer..or get him to fax another O&A to you

Do any of you guys make your first offer to the agent via fax using a O&A for non REIWA members or do you only go to the RE agents offer to write it up. Are RE agents happy to receive first offers via fax.
I usually get them to come see me and write up the O&A, that way I get to talk to them face to face...any adjustments are made via fax from then on in

Thanks as always,
No prob's...did I help?

QL

All the best

Redwing

 

[Quick Learner]

That Helps

Yeah Properties keep selling over asking price and the agents just keep driving prices up. Better to be in the market and gettting experience in the hope that an opportunity is made.

Thanks Redwing.

QL

 

[Bargain Hunter]

QL,

If the prices are being driven up so severely I would suggest the market is overheated and should be avoided. IMO the chance of making money, or even recovering your money in the short term is rather low.

Regards

Andrew