Hi Guys
Maybe you can help me! I made an offer on a block of land in my area that I knew was very reasonable. The land is on a subdivision that has not been completed to registration and of course the offer was made subject to this being finished. The asking price is $340,000. I offered $310,000. The agent told me he took my offer to the buyer and it was rejected. I then came back and told the agent the reason for my offer eg. other land in the area is going for about $300,000 but is not quite as well located, and made a final offer of $315,000. The agent then said this was still too low and I have heard no more.
Meanwhile, the land is still on the market four weeks later??
I have now made an offer on some other land in another area. This has been advertised as a mortgagee sale. I did some research, found out the last buyer paid $261,000 for this land in 2002. The land failed to go at auction last September. Since then a DA to subdivide the land has expired. Lots of itnernet surfing proves the land was first advertised at $389,000 then $359,000 and it is now on at $339.000. I have made an offer of $300,000. The agent rejected this.Surely if this is a mortgagee sale, the bank would take anything over $261,000??? Is the agent telling lies????
I am bamboozled with this whole process!!!!
Maybe you can help me! I made an offer on a block of land in my area that I knew was very reasonable. The land is on a subdivision that has not been completed to registration and of course the offer was made subject to this being finished. The asking price is $340,000. I offered $310,000. The agent told me he took my offer to the buyer and it was rejected. I then came back and told the agent the reason for my offer eg. other land in the area is going for about $300,000 but is not quite as well located, and made a final offer of $315,000. The agent then said this was still too low and I have heard no more.
Meanwhile, the land is still on the market four weeks later??
I have now made an offer on some other land in another area. This has been advertised as a mortgagee sale. I did some research, found out the last buyer paid $261,000 for this land in 2002. The land failed to go at auction last September. Since then a DA to subdivide the land has expired. Lots of itnernet surfing proves the land was first advertised at $389,000 then $359,000 and it is now on at $339.000. I have made an offer of $300,000. The agent rejected this.Surely if this is a mortgagee sale, the bank would take anything over $261,000??? Is the agent telling lies????
I am bamboozled with this whole process!!!!
