Offered asking price but vendor wont budge

[emjay68]

Same annoying experience, and as a first time buyer, it is very confusing, as read earlier, it is an auction under closed door

It sure is. First time i've ever experienced it.

 

[emjay68]

How to get a good price for a purchase in realestate: always be prepared to walk away.

Thanks Tim. I got way too emotionally attached to this one unfortunately.

 

[Daniel121]

As a first time buyer, i realize i made a mistake by going in so quickly and so eagerly. However, I only did so because i missed out on a very similar property the week before which got snapped up extremely quickly. So i thought that by acting quickly on this property, the bad luck would fall on someone else. Well, that was my theory anyway.

Depends on how much the property you're going to purchase, may be a buyer agent is worthwhile in your case? They find the properties that meet your requirements (some may able to source the property outside the market), handle the purchase process and even take care the negotiation for you. (I didn't hire one myself tho)

There are quite a few of them on this forum, it won't hurt to see what they can do for you.

 

[emjay68]

Depends on how much the property you're going to purchase, may be a buyer agent is worthwhile in your case? They find the properties that meet your requirements (some may able to source the property outside the market), handle the purchase process and even take care the negotiation for you. (I didn't hire one myself tho)

There are quite a few of them on this forum, it won't hurt to see what they can do for you.

Hmmm thanks for the tip. Never really knew that kind of service existed. How do they charge you for this kind of service?

 

[lizzie]

Also, after i'd put in my offer, i decided to get a copy of the title of the property and discovered the vendor was SA Housing Trust. That explains why they could only process offers after the long weekend. And it seems they also do not negotiate.

Ah - saves me asking.

The way you worded the agents response (collate Tuesday, decision by Wednesday) screamed that it was a trustee of some sort - probate, mortgagee, housing - so nothing would rush the decision.

You will find the lesson learnt on this deal priceless in future dealings ... it's the hard learnt lessons that mean the most (like missing bin night whilst mid reno).

 

[Dazz]

You will find the lesson learnt on this deal priceless in future dealings ... it's the hard learnt lessons that mean the most (like missing bin night whilst mid reno).

Spoken like a true renovation queen.

 

[RightValue]

The agent acts on behalf of the seller,
.

That's the theory.

The reality is...

The agent acts in the agents best interests