I am interested in a property in Erskineville Sydney that is to go to Auction this coming Saturday afternoon.
Its pretty rough but im a tradie, i'm ok with the tools and i have plenty of mates in the building industry, so no problem.
I asked the agent what price range and she says mid $600k's. Ok, all good so far.
Last night i get an email from the agent, as follows:
We need to inform you an offer in writing has been received today in the high $700,000.00’s for xxxxxxxx St. Erskineville. The executors will make a decision this evening whether to sell prior to Saturday’s auction.
If you would like to submit a written offer at this level please email to me so it can be forwarded to the executors for their decision.
Exchange would be tomorrow with a signed contract; 10% deposit and no cooling off (66W required from your solicitor/conveyance) as per auction conditions.
Regards
To me, this is a ingenious but sneaky way to draw out written offers at a much higher price than she quoted verbally. It could also be bona fide but then i either make an offer much higher than i expected or risk it being sold going to Auction on Saturday.
So i contacted her and asker her if i could see the written offer before i made an offer.
Of course, she said no. Privacy reasons.
So i said that if i made an offer and purchased the property i would want to see the other offer after purchase. If there was no other offer we'll be going to court.
As agents control the info flow between vendor and buyer(s) they can BS all they like and use privacy reasons as a way not be proved that they are BS'ing.
Has anyone came across this approach from an agent before?
Its pretty rough but im a tradie, i'm ok with the tools and i have plenty of mates in the building industry, so no problem.
I asked the agent what price range and she says mid $600k's. Ok, all good so far.
Last night i get an email from the agent, as follows:
We need to inform you an offer in writing has been received today in the high $700,000.00’s for xxxxxxxx St. Erskineville. The executors will make a decision this evening whether to sell prior to Saturday’s auction.
If you would like to submit a written offer at this level please email to me so it can be forwarded to the executors for their decision.
Exchange would be tomorrow with a signed contract; 10% deposit and no cooling off (66W required from your solicitor/conveyance) as per auction conditions.
Regards
To me, this is a ingenious but sneaky way to draw out written offers at a much higher price than she quoted verbally. It could also be bona fide but then i either make an offer much higher than i expected or risk it being sold going to Auction on Saturday.
So i contacted her and asker her if i could see the written offer before i made an offer.
Of course, she said no. Privacy reasons.
So i said that if i made an offer and purchased the property i would want to see the other offer after purchase. If there was no other offer we'll be going to court.
As agents control the info flow between vendor and buyer(s) they can BS all they like and use privacy reasons as a way not be proved that they are BS'ing.
Has anyone came across this approach from an agent before?