Should I include this when making an offer?

[Edmond Dantes]

Fellows, I've been reading previous posts regarding writing an offer to buy a property.

Let's say I find a property I like advertised for 300k and during my inspection, I find that the doors, screen flyers, etc, etc need replacement/repairs (a good reason to ask for a lower price).

When making a written offer, say, for 290k; should I include in the written offer why I think it's worth this price (and detailed what needs replacement/repairs), or I just verbally tell the agent that?

thanks

 

[Strannik]

if you find a property with asking price of 300 i would make an offer of 260 subject to finance and building inspection satisfactory to buyer

oh and vacant possession

 

[Edmond Dantes]

Thanks Strannik.. but then you don't mention reasons or anything (either verbally to the REA or written). Just "this is my offer. period" ??

 

[Strannik]

yeah
why do you feel they need to know the reason?

 

[stumunro]

IF i put in a really low ball offer i usually present my reason to the REA. By justifying it to them, they may pass the reason on to the vendor when they get asked "Why so low?" All due process of conditioning the vendor.

 

[marg4000]

I am sure the vendor is well aware of the condition of his/her property and took it into account when setting the asking price. Had all items been replaced previous to selling then the price would have been proportionately higher.

Every property has its "good" points and its "bad" points, and usually all are taken into account when pricing is discussed prior to sale.

Offer what you think it is worth to you.
Marg

 

[hobo-jo]

Much like when buying a vehicle I think it is worth pointing out/exaggerating the bad features when making an offer (lower than asking price), much the same as the RE agent tries to point out the good points to sell the property for a higher price. All part of the haggling process if you ask me.

As others have mentioned, the RE agent might pass on your verbal observations to condition the vendor to sell, but you wouldn't write it into the contract.

 

[Ausprop]

how about a clause that says even if you receive finance approval, that if the financier decides to withdraw their finance offer for any reason prior to settlement then the contract is null and void

 

[WASP]

Much like when buying a vehicle I think it is worth pointing out/exaggerating the bad features when making an offer (lower than asking price), much the same as the RE agent tries to point out the good points to sell the property for a higher price. All part of the haggling process if you ask me.

As others have mentioned, the RE agent might pass on your verbal observations to condition the vendor to sell, but you wouldn't write it into the contract.

sounds right to me

 

[Strannik]

how about a clause that says even if you receive finance approval, that if the financier decides to withdraw their finance offer for any reason prior to settlement then the contract is null and void

you can put pretty much any clause in the contract, question is whether the seller is going to accept it

 

[travelbug]

I am sure the vendor is well aware of the condition of his/her property and took it into account when setting the asking price. Had all items been replaced previous to selling then the price would have been proportionately higher.

Every property has its "good" points and its "bad" points, and usually all are taken into account when pricing is discussed prior to sale.

Offer what you think it is worth to you.
Marg

Not necessarily. When we looked at our PPOR the vendors were unrealistic. They thought it was wonderful with NO faults. People get very sentimental when selling THEIR home. We pointed out many things. THEN they dropped the price.

Another place we looked at had major work to be done so we bailed. We gave the vendors the building report. They go it all done then called us back a month later with the same price. We had already bought elsewhere though.