State Trustee Property

[JohnA]

Does anyone know how state trustees operate in terms of accepting offers?

Background. Owner has gone into a nursing home and State Trustee (ST) is selling the house. It went to auction and was passed in with no bids.
It is now for sale with a narrow price guide. Selling agent told me the lower price was the reserve.
I would like to buy the property. I will pay in the asking range. I asked to sign a contract that they could present the ST. I asked when they would be presenting this to the ST.
I was told no I couldn't sign the sale contract. Just write on a piece of paper our offer and conditions. I was told they didn't know when they would present it because they were waiting on other offers. I asked when the other offers were going to be submitted and was told he didn't know. I asked why I couldn't submit my offer and have them present it to ST and they said they were waiting on other offers. I asked if they had any offers today and was told no and so the merry go round went on. I wanted to sign and pay required deposit.

I don't know what games are going on here. I have a contract of sale here. Do I sign it with my offer and email it direct to the ST contact on Monday morning with a follow up phone call.

I don't have any faith in the REA. How do you know that they actually present an offer to the vendor? I would have thought ST would be happy to accept in the range and have a quick sale.

 

[speary]

What about an offer with a 24 hour expiry. (I haven't done it but have read about people doing this.)

My understanding is that the REA has to present all offers so that should speed up the process.

 

[Terry_w]

The solicitors for the ST should be on the contract. Why not just post a signed contract in - after your legal advice of course.

 

[JohnA]

Hi Speary

Yes was happy to have an expiry clause. The issue was getting them to accept a formal offer. The way they wanted me to present the offer was not going to be worth the paper it was written on. Presenting them 3 signed contracts by me - which means they can sign straight away when presented means the deal is done. They could verbally accept within the 24hrs then receive a higher offer the next day and change their mind. Guzumped is it?

It just makes me want to walk away. My other thought was offer less than asking to make the deal sweet. It is a good buy but good buys are regularly cropping up.

 

[Terry_w]

Yes Terry have the solicitor details. My representative could fax direct to them.

I have represented clients before making offers to mortgagee in possessions. Solicitors just bypass the agent and present offers directly. This is probably the best way to proceed.