Obvious signs of a desperate seller

P

Pixie

Hi all, have you encountered a desperate seller???

what are the obvious signs??? please share your experience

my experience was the sellers agent came back to me and offered approx 5% off the negotiation price...
 
I think ultimately the definition would be confirmed if you put in an ridiculous offer and its accepted..

At the moment its pretty much a flat market.. 5% discount I would expect if its just an average property thats not generating that much interest.. Maybe the REA just wants his comission faster?
 
I bought my previous PPOR in 1995. It was a place that we looked at while we were killing time one Saturday. We were curious to see inside it because it was advertised as having '7 bedrooms and a ballroom'. It had been empty for a couple of years and got passed in at auction so it was looking a bit sad.
The agent was a young bloke. He had obviously been lumbered by his boss with a house that wouldn't sell, so he wasn't too enthusiastic at the open house.
It was a great house and after looking around I said to him, "We'll buy it.'
'What?' he said.
'The house.'
'This house?'
'Yep' I said.
'What's the offer?' he asked.
I said we would buy it for the advertised price - $530K. I didn't want to muck around and lose it because I had never seen anything like it. The place was an untouched Spanish Mission thing with an internal courtyard.
The agent called up on the Monday and said, 'I got $20K knocked off the price for you. The owner was desperate.' I laughed and made a mental note to not talk to him when I sold the place.
Scott
 
depreciator said:
I bought my previous PPOR in 1995. It was a place that we looked at while we were killing time one Saturday. We were curious to see inside it because it was advertised as having '7 bedrooms and a ballroom'. It had been empty for a couple of years and got passed in at auction so it was looking a bit sad.
The agent was a young bloke. He had obviously been lumbered by his boss with a house that wouldn't sell, so he wasn't too enthusiastic at the open house.
It was a great house and after looking around I said to him, "We'll buy it.'
'What?' he said.
'The house.'
'This house?'
'Yep' I said.
'What's the offer?' he asked.
I said we would buy it for the advertised price - $530K. I didn't want to muck around and lose it because I had never seen anything like it. The place was an untouched Spanish Mission thing with an internal courtyard.
The agent called up on the Monday and said, 'I got $20K knocked off the price for you. The owner was desperate.' I laughed and made a mental note to not talk to him when I sold the place.
Scott
Click to expand...

empty for a couple of years?! was there something wrong with the house (if you dont mind me asking?)?
 
If both names on the title but only his or her clothes in the wardrobe and/or only half of the furnitures in the house
 
 
empty for a couple of years?! was there something wrong with the house (if you dont mind me asking?)?
Click to expand...

Nope. A bloke bought it and his wife didn't like it and refused to move into it. He sat on it for a couple of years - no doubt hoping she would change her mind - and then he needed to flog it. Gee, I miss that house. The main room was so big that we once had a sit down dinner for 70 people in it with live music.
 
The Y-man said:
...and when you do see them, you are not sure whether it is just a ploy to get your attention :)

http://realestateview.com.au/Real-E...operty-Details-buy-residential-2443185_S.html

http://realestateview.com.au/Real-E...operty-Details-buy-residential-2324785_S.html

http://realestateview.com.au/Real-E...operty-Details-buy-residential-2315633_S.html

http://realestateview.com.au/Real-E...operty-Details-buy-residential-2267337_S.html

http://realestateview.com.au/Real-E...operty-Details-buy-residential-2423683_S.html

Cheers,

The Y-man
Click to expand...



yes, but how many of these are actually really desperate sellers and not just sales pitch, my gut tells me that truly desperate sales aren't advertised as so..... just my opinion
 
I have been watching a place for the last 8 mths and it has now come down about 40 thou and I just noticed it has dropped another 20 from week ago when I had another look.

But an answer to your question the agent has said its an urgent sale please submit an offer :D.

Doing sums at this moment (reno costs). The rough basics are buy $180000 reno / buy costs $45000 market after would be $270000 rent $290 - 340

Brian
 
depreciator said:
From what I read in the paper today (SMH) anybody selling in Noosa right now would be a desperate seller.
Click to expand...

In final negotiations at the moment for a property near noosa.

Looking at purchasing with a 30% reduction in price from suggested market, to advertised price, to final contract value............

a couple of hundred grand off the advertised price is pretty good, and that is on top of my terms.

Still 7 figures though:(

F
 
My parents have a house they'd love to get rid of. One of the benefactors is quite desperate.

The house is listed right at the very very high end of the range for that kind of house. Noone came to the first open. My parents have said they don't care what it sells for. There is NO INDICATION OF THIS anywhere in the ad and I bet the agent isn't passing this information on either.

Its listed for 220k and it'll be there forever unless someone offers them 160k or something, which they'll take. And looking at other houses in the town, 140-180k would have been a more realistic price for an old fibro, even if this one *is* in a prime development spot I don't think that adds quite that much to the house value. The interior is all original '50s, why buy that when you can buy a 5yo 3br brick unit for the same price?

Stupid real estate agent.
 
Why on earth would anyone keep a property listed for $220K when they will accept $160K?

One phone call to the RE agent should fix that quick smart.
Marg
 
Pixie said:
Hi all, have you encountered a desperate seller???

what are the obvious signs??? please share your experience

my experience was the sellers agent came back to me and offered approx 5% off the negotiation price...
Click to expand...

My 3rd PPoR was bought 3 months after we accidentally drove past it when the auction was about to start.

We went to the auction, didn't even get to see inside the house, it got passed in on a Vendor's bid of $310k and we went home.

We drove past 3 months later and saw the For Sale sign still out the front, went inside and fell in love with the house immediatley (but showed no emotion to the agent).

We made an offer of $305k with a short settlement and got the sale. It was the PPoR we sold last year (see my PPoR reno thread).

So, a property on the market for a while is a good sign; either they are motivated or just testing the market.
 
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