Obvious signs of a desperate seller

[kathryn d]

We are passing contracts back and forth with the vendor's solicitor atm, for a small house here in Australia.
We will get to live in it and pay installments directly to the vendor, at no interest,if the sale goes thru.
I'd say the vendor is a bit desperate.

 

[RumpledElf]

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

The REA set the price, put up the ad and did everything with no consultation. They found out it was listed after the event. My parents have never sold a house before. They're already told the agent the price is very negotiable but its not in the ad.

It is a deceased estate, so my parents actually don't have much to do with it, its a public trustee thing. But it is surprising how high the price is.

Definitely not the right way to go about selling a house in a suburb with 500+ houses for sale, and most of those are under $220k. The market is seriously saturated and this house is far too expensive for a demo-and-redevelop. It would rent well though, its 4br and you could split the block without demolishing the house. But is this in the ad? Noooooo

 

[kathryn d]

The REA set the price, put up the ad and did everything with no consultation. They found out it was listed after the event. My parents have never sold a house before. They're already told the agent the price is very negotiable but its not in the ad.

It is a deceased estate, so my parents actually don't have much to do with it, its a public trustee thing. But it is surprising how high the price is.

Definitely not the right way to go about selling a house in a suburb with 500+ houses for sale, and most of those are under $220k. The market is seriously saturated and this house is far too expensive for a demo-and-redevelop. It would rent well though, its 4br and you could split the block without demolishing the house. But is this in the ad? Noooooo

Have you considered buying it?
Lots of ways of setting up the finance.
Vendor financing...installment payments...

 

[INVSTOR]

I consider this property was a good buy for new owner.

http://www.realestate.com.au/property-house-qld-algester-106706151

 

[sammmeee]

http://www.realestate.com.au/property-house-wa-warnbro-107122726

 

[ziggy2214]

If the property is for sale with 2 agents does it make him desperate?

 

[Ed Barton]

no furniture may indicate desperation.

if the vendor is selling ppor it means they've bought and moved elsewhere.
if selling an IP they've moved the tenants on and now have no income. tick tick tick.

 

[wobbycarly]

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

"VENDOR SAYS SELL!" Really? Is that why it's advertised for sale?

 

[cu@thetop]

"VENDOR SAYS SELL!" Really? Is that why it's advertised for sale?

No- it's because it is written in capitals- Vendor must be desperate!

 

[RumpledElf]

Have you considered buying it?
Lots of ways of setting up the finance.
Vendor financing...installment payments...

Not possible. I've spent 5 months now trying to get a loan for our house and our absolute maximum we can get is $120k. You can't negotiate vendor finance with the public trustee either. It'll be a long time before we get a third house without selling something or getting a big income boost.

I wouldn't really want that house anyway, its a development site first and foremost and I'd rather be local to that kind of thing. And in a suburb with 500 odd houses for sale and heaps of vacant land (albeit on the fringes), as good as the location of that one is, it would have to be really bargain priced to make it worth it.

My parents aren't property people or they could easily buy out the other half-share of the house, keep it, and subdivide and build themselves.

 

[Rixter]

The 3 'D's for a finding a desperate motivated vendor:

1/ Death
2/ Divorce
3/ Da bank (debt)