Hi guys, I hope I can get some of your wisdom to help in making decisions in the near future.
My current situation is that, we original found a unit that we sort of liked and the price was ok. We've lodged for an unconditional pre-approval and hopefully that should be coming through this week.
Now, it's probably been 1-2 months since we negotiated the price for this unit and it was something quite close to the asking price, and the REA has been taking me for a fool ever since, making claims that there are some "10" potential buyers that would buy the property today.
Last week, after the REA bluffed by stating that I wouldn't be able to find anything cheaper in the area, I actually did some research that there are 2 units on the market which is 5k cheaper than our negotiated price (this is still just their asking price). Also, with these units, they're actually closer to the shops and the train station.
My dillema lies in whether I should take a risk and cancel my application and restart it for this cheaper apartment. The risk is, because it's cheaper, there's a higher chance i might get gazumped by another buyer (since my bank is fairly slow). Is it possible to secure a property for 3-4 weeks?
Or, I can take the safe route and just purchase this unit as soon as i get my unconditional approval.
Finally, I was just wondering, is there a third option? Like, if i mention my plans on cancelling my offer to this REA, how likely do you guys reckon that the REA would try the bring down the price to match the cheaper property?
My current situation is that, we original found a unit that we sort of liked and the price was ok. We've lodged for an unconditional pre-approval and hopefully that should be coming through this week.
Now, it's probably been 1-2 months since we negotiated the price for this unit and it was something quite close to the asking price, and the REA has been taking me for a fool ever since, making claims that there are some "10" potential buyers that would buy the property today.
Last week, after the REA bluffed by stating that I wouldn't be able to find anything cheaper in the area, I actually did some research that there are 2 units on the market which is 5k cheaper than our negotiated price (this is still just their asking price). Also, with these units, they're actually closer to the shops and the train station.
My dillema lies in whether I should take a risk and cancel my application and restart it for this cheaper apartment. The risk is, because it's cheaper, there's a higher chance i might get gazumped by another buyer (since my bank is fairly slow). Is it possible to secure a property for 3-4 weeks?
Or, I can take the safe route and just purchase this unit as soon as i get my unconditional approval.
Finally, I was just wondering, is there a third option? Like, if i mention my plans on cancelling my offer to this REA, how likely do you guys reckon that the REA would try the bring down the price to match the cheaper property?