Btw I do appreciate the replies and advice. It's obvious that everyone is in my corner and trying to help me avoid that $1000 payment. But at the end of the day I did agree to it before the contract, and it wouldn't sit right with me to back out on that deal. If the deal is dodgy on the agents behalf, then they will have to deal with the consequences of that if the seller decides to pursue the matter. As for me, I'm happy to just pay it and forget about it seeing as how I had been prepared to pay it from the start...
Only accepting contract with extra cash! $$$
- Thread starter Tim86
- Start date
Of course/...
Your money ..your call...good luck
Your money ..your call...good luck
Good point, I agree
I agree with this. You gave your word and it wouldn't sit well with me to try and weasel out of it either - it's only $1000 after all.
If they are doing something dodgy with it, you will give them a heads up which is a good thing and leave it in their hands to pursue.
While I agree with the sentiment of following through on your promises I think you need to be careful here to ensure you are not being implicated in the dodgyness. If you pay the $1,000 then surely you are party to the act, given that on paper the $1,000 doesnt exist?
I agree with your commitment, I would just be careful in not implicating yourself in something you dont want to be involved with.
Blacky
I reckon you have just misunderstood.
The offer needs some consideration, usually $1,000. Its also sometimes referred to as a holding deposit.
The estate agent might not give a receipt for this at the time, but its noted on the offer document (contract) itself 'of which $1,000 already paid' (or words to that effect) in the deposit part of the contract.
I simply cant believe an agent would put their licence at risk for $1,000. It just doesnt make sense.
If you were contemplating doing something illegal, would you shop lift a bunch of bannanas at coles?
The offer needs some consideration, usually $1,000. Its also sometimes referred to as a holding deposit.
The estate agent might not give a receipt for this at the time, but its noted on the offer document (contract) itself 'of which $1,000 already paid' (or words to that effect) in the deposit part of the contract.
I simply cant believe an agent would put their licence at risk for $1,000. It just doesnt make sense.
If you were contemplating doing something illegal, would you shop lift a bunch of bannanas at coles?
Agent said pretty much this: "The seller will accept $405 000 if you pay him another $1000 in cash. But that won't be on the contract. He just wants it in cash to pay his solicitor. But $1000 isn't much, sometimes sellers will request $25000 cash! So all up it will be $406 000 but the contract will only say $405 000"
Had one of the larger inner city agencies in Brisbane recently back out of a verbal agreement and asked for another 20k on behalf of the owner, not to be reflected in the contract price. Didn't even get an apology about breaking the verbal agreement.
The bank was going to take all of the settled funds was the motivation in that case, in your case over the sum of 1k I'm scratching my head trying to work out the motivation for the sales agent to get involved in such a scenario. Take 1k less in sales commission and do everything legitimately or... , just difficult to understand.
The bank was going to take all of the settled funds was the motivation in that case, in your case over the sum of 1k I'm scratching my head trying to work out the motivation for the sales agent to get involved in such a scenario. Take 1k less in sales commission and do everything legitimately or... , just difficult to understand.
Are you paying stamp duty on the $405k or $406k? It's only about $35 difference but definitely need to be careful.
It sounds like a dodgy agent who thinks they can take advantage of you acting for yourself and make some extra commission. Maybe they had to reduce their comm to get the vendor to agree to sell for $405k?
It sounds like a dodgy agent who thinks they can take advantage of you acting for yourself and make some extra commission. Maybe they had to reduce their comm to get the vendor to agree to sell for $405k?
