Some realestates have a funny way of operating

[Chandy]

We have put in an offer on a property, putting it in writing as requested. Property been on the market awhile now, we offered a low price, somewhere to start from. Realestate has advised that now he has 3 other parties putting in offers all at the same time as us. He asked is it the best price we can do because he will take all offers to the Vendors by COB tomorrow and they can then choose, there will be no back and forth to see if we will offer anymore. He is going to include a declaration that we have to sign to make us aware that he wont be coming back to us and he doesn't want us knocking on the vendors door saying we would of paid more. He wants a best price now.

I think his trying to call my bluff

If he was selling my property I would be mighty annoyed that his not working to get the best money negotiating back and forth

 

[DaveM]

I swear that agents receive a book of Real Estate Agent Cliche 101 phrases as part of their training courses

 

[Brady]

So are you going to offer your best price?

 

[twobobsworth]

If he was selling my property I would be mighty annoyed that his not working to get the best money negotiating back and forth

Nothing wrong with this approach. Have used it before and achieved greater than my asking price.

 

[Chandy]

as its an investment property I'm not going to be upset if we don't get the property, obviously everyone wants to get it at the best price that they can. I could have offered more but I wont

 

[see_change]

We have put in an offer on a property, putting it in writing as requested. Property been on the market awhile now, we offered a low price, somewhere to start from. Realestate has advised that now he has 3 other parties putting in offers all at the same time as us. He asked is it the best price we can do because he will take all offers to the Vendors by COB tomorrow and they can then choose, there will be no back and forth to see if we will offer anymore. He is going to include a declaration that we have to sign to make us aware that he wont be coming back to us and he doesn't want us knocking on the vendors door saying we would of paid more. He wants a best price now.

I think his trying to call my bluff

If he was selling my property I would be mighty annoyed that his not working to get the best money negotiating back and forth

We had this happen to us a few months ago . Missed out . Annoyed at the time but ended up buying four properties in Brisbane .

Cliff

 

[Vendor]

I think he is calling your bluff, but it seems to me that if he is not, then he is not fulfilling his obligations to the vendor.

I would never sell through an agent who operated that way.

 

[Andrew_A]

Pretty normal in QLD, and they mean it, usually that was your last chance.

 

[oc1]

We have put in an offer on a property, putting it in writing as requested. Property been on the market awhile now, we offered a low price, somewhere to start from. Realestate has advised that now he has 3 other parties putting in offers all at the same time as us. He asked is it the best price we can do because he will take all offers to the Vendors by COB tomorrow and they can then choose, there will be no back and forth to see if we will offer anymore. He is going to include a declaration that we have to sign to make us aware that he wont be coming back to us and he doesn't want us knocking on the vendors door saying we would of paid more. He wants a best price now.

I think his trying to call my bluff

If he was selling my property I would be mighty annoyed that his not working to get the best money negotiating back and forth

Pretty standard. I have purchased like that before. I like it as it doesn't end up like an auction. In and out quickly. Going unconditional in these situations makes a huge difference!

Oscar

 

[Scott No Mates]

If he was selling my property I would be mighty annoyed that his not working to get the best money negotiating back and forth

He is cutting out all the to-ing & fro-ing getting your best offer or telling you to go jump. This is his way of getting the best price with the bs.

 

[monalisa]

We recently purchased a property in Sydney where we had to sign a piece of paper declaring that it was our best offer and it was established up front that there would be no back and forth. The agent meant it. This is the first we came across of this in Sydney - it just put our minds at rest too that the agent won't be playing any 'games'.

We put our best offer down on paper. There was one other offer.

Our offer was a few grand less than the other individual (but above the asking price) - the agent put forward both offers.

The owner asked the agent who they would pick, and the agent said we were in a stronger position given we have bought properties in the past.

I think the agent favoured us due to our experience, and also us having built rapport with him earlier in the day sharing a bit about our investing experience - just meant he trusted us more with completion of the transaction.

 

[Of The Vultures]

I haven't come across this until we moved to Tassie. The agent asked for our best offer, even sealed it in an envelope and we had to sign across the seal so you could tell if it's been opened! He took that, plus a couple of other offers (also sealed) to the vendor and there was not going to be any to-and-fro once the vendor made their pick.

Our offer was accepted and we later found out one of the other buyers then wanted to offer more but the agent wouldn't hear it. At the time I thought it was doing the vendor a disservice but if the vendor wants to-ing and fro-ing, they can simply not accept any offer and ask for more.

The most to-and-fro I've had to do was with a QLD property so I guess it depends on the agent.

 

[INVSTOR]

We have put in an offer on a property, putting it in writing as requested. Property been on the market awhile now, we offered a low price, somewhere to start from. Realestate has advised that now he has 3 other parties putting in offers all at the same time as us. He asked is it the best price we can do because he will take all offers to the Vendors by COB tomorrow and they can then choose, there will be no back and forth to see if we will offer anymore. He is going to include a declaration that we have to sign to make us aware that he wont be coming back to us and he doesn't want us knocking on the vendors door saying we would of paid more. He wants a best price now.

I think his trying to call my bluff

If he was selling my property I would be mighty annoyed that his not working to get the best money negotiating back and forth

I've had that a lot in Perth. Usually the ones that I wished I offered $5000 more.

 

[webbj]

I haven't come across this until we moved to Tassie. The agent asked for our best offer, even sealed it in an envelope and we had to sign across the seal so you could tell if it's been opened! He took that, plus a couple of other offers (also sealed) to the vendor and there was not going to be any to-and-fro once the vendor made their pick.

Our offer was accepted and we later found out one of the other buyers then wanted to offer more but the agent wouldn't hear it. At the time I thought it was doing the vendor a disservice but if the vendor wants to-ing and fro-ing, they can simply not accept any offer and ask for more.

The most to-and-fro I've had to do was with a QLD property so I guess it depends on the agent.

Also in tassie we had some weird behaviour recently (before we even made an offer) by agents using the "set sale by date" system. Whilst the fine print says that an offer can be made and accepted by the vendor at any time, the selling point of the system is that buyers should submit their "best and final offer by xxxx date" and the vendor will pick one of these. This apparently makes it easier for both buyers and vendors.

After a few inspections we started being hassled by the REA about making an offer, a week prior to the set sale date. I eventually speaking to the REA after several missed calls and she explained that should we be interested, we should make an offer in writing as the vendors would be visiting to review all offers received the next day.

All fairly normal expect that the REA was hassling for an offer by COB on a Thursday and the published set sale date (after 4 weeks of advertising the property) was for the following Tuesday.

Ultimately we didn't make an offer, but had we been going to - we would have taken their advice and made an offer prior to the Tuesday for the vendor to consider as per the advertising collateral and their advice.

 

[Of The Vultures]

Was this the one in Rose Bay webbj? I had a few missed calls from the agent about that one.

 

[churchado]

I had a similar situation recently. Punchbowl flat was advertised for offers above $270,000 and open on the Saturday. REA told all interested parties to put in their best bid by Tuesday afternoon. Didn't give us a lot of time... Ended up not offering as there was a special condition that the buyer had to pay a special levy that had come up on August strata meeting. Made me start wondering whether the rush for offers was to stop people finding out just how much this levy would cost them.

 

[robbiejuve]

I had a similar situation recently. Punchbowl flat was advertised for offers above $270,000 and open on the Saturday. REA told all interested parties to put in their best bid by Tuesday afternoon. Didn't give us a lot of time... Ended up not offering as there was a special condition that the buyer had to pay a special levy that had come up on August strata meeting. Made me start wondering whether the rush for offers was to stop people finding out just how much this levy would cost them.

This is a very good point and I am wondering about this a lot. Many listings are structured such that all offers in by 5pm <insert day of the week>. Everytime I have offered in this situation I have been told that signed contracts with a deposit cheque attached will have priority over my written offer.

I find it amazing that people are signing contracts like this without solicitors doing what they do. I understand they get amended prior to exchange but what if there is a condition the vendor wont budge on or if you want to pull out due to special levies coming up. Too bad you already signed the contract, right?