Vendors & Agents ARRHH!
- Thread starter Brady
- Start date
Your best offer price is $305k with a 6 month settlement period, which doesn't seem compelling enough for the vendor to take so early on in the piece.
If you are that keen, maybe others will offer more after the first open?
And maybe you yourself will come back and offer more?
And why would they counter-offer and potentially cap the upper limit on their sale price so early on?
If they are not in a huge rush to sell (which they are not according to the agent), the market is warming up (according to you), and you are not off overseas somewhere un-contactable such that if they don't accept your offer right now (by 4/11) you are not coming back... then surely they would hang out for other offers?
They might get a better price and the agent might get a better commission.
And even if the agent was not interested in maximising the sale price and just interested in getting a sale done, he does not have any ammunition to take to the vendor to convince them to do this with no inspections done yet and with no other parties through yet.
I think you've pulled the trigger too early on this - sometimes it maybe better to just express your interest and request the contract of sale and wait till the first or second open is done, and then make a more compelling offer - ie. at a higher price and unconditional with their choice of settlement times.
If you are that keen, maybe others will offer more after the first open?
And maybe you yourself will come back and offer more?
And why would they counter-offer and potentially cap the upper limit on their sale price so early on?
If they are not in a huge rush to sell (which they are not according to the agent), the market is warming up (according to you), and you are not off overseas somewhere un-contactable such that if they don't accept your offer right now (by 4/11) you are not coming back... then surely they would hang out for other offers?
They might get a better price and the agent might get a better commission.
And even if the agent was not interested in maximising the sale price and just interested in getting a sale done, he does not have any ammunition to take to the vendor to convince them to do this with no inspections done yet and with no other parties through yet.
I think you've pulled the trigger too early on this - sometimes it maybe better to just express your interest and request the contract of sale and wait till the first or second open is done, and then make a more compelling offer - ie. at a higher price and unconditional with their choice of settlement times.
You emailed CJay the deal? They don't call him Corey 'Gazzump' Batt for his eBay skills!
pinkboy
PML
what area you talking here? I have no money left so dont worry.More LOL.Tripper.............................
You can feel the love in this place.
I can understand where Brady is coming from, this market right now is getting silly in some places, whilst dead in others. Unfortunately if you want to swim in that part of the pool, you have to play by their rules.
I can understand where Brady is coming from, this market right now is getting silly in some places, whilst dead in others. Unfortunately if you want to swim in that part of the pool, you have to play by their rules.
The property is a development site to me it only was financial on those terms.
$295k was at a point which I was happy to proceed.
Was willing to pay more for longer settlement as it would of reduced holding costs, each extra 3 months was only about $2k extra even though offer was $5k more.
I advised the agent if the offer wasn't accepted by COB Monday that the offer and my interest in the property would expire.
I won't be at the open on the weekend for the property.
I advised the agent if he has any similar properties that he is interested in selling at the asking price with unconditional to give me a call.
I don't have the time to play the back and forward games and BS with the agents.
Cjay possibly could of found me a deal, but need to offer below asking price to make it work
see how we go on that one.You can feel the love in this place.
I can understand where Brady is coming from, this market right now is getting silly in some places, whilst dead in others. Unfortunately if you want to swim in that part of the pool, you have to play by their rules.
Love haha I'm a banker used to not feeling the love here
I've spent most of today arguing with valuers after getting low valuations. They insist on telling me that comparable properties are above market value, along with my clients properties. And that the market is starting to move, when infact they are behind the times and the market has moved.
Funny thing both short valuations were from the same valuation company, so had the pleasure of having the same discussion twice with the director of the company.
Deal wasn't presented to him for finance, but I'm happy to show him deals I'm interested in as I trust he wouldn't disclose them
Don't worry, I have been as well! Great guy, good resources, and always happy to help everyone. Great to have in the chatroom to pass on his slumlord advice as well
.pinkboy
Update the property I was looking at and made unsuccessful offers on is still on the market. The agent hasn't attempted to contact asking for a higher offer or different settlement terms.
http://www.realestate.com.au/property-house-sa-surrey+downs-115276399
Feel free to have a go at it, I've gone unconditional on another property (details to follow soon)
http://www.realestate.com.au/property-house-sa-surrey+downs-115276399
Feel free to have a go at it, I've gone unconditional on another property (details to follow soon)
Just a little update for those that commented on the thread.
Property SOLD settlement date 1/4/2014
$300,000
If they had of accepted my offer on the 30/11 with a 90 day settlement vendor would of got there money 2 months earlier. Note as well this property was vacant the whole time, so no income from tenant.
Still happy that I didn't get it
Property SOLD settlement date 1/4/2014
$300,000
If they had of accepted my offer on the 30/11 with a 90 day settlement vendor would of got there money 2 months earlier. Note as well this property was vacant the whole time, so no income from tenant.
Still happy that I didn't get it
Amazing the agent never even came back to you to try and negotiate. Has he ever contacted you with other properties for sale? Doesn't seem he was working in the best interests of the vendor to try and negotiate the best price when they could have at minimum counter offered.
Will be interested to see what you have ended up buying. Am interested in looking in South Australia for a splitter block around 300k in the next 12 months or so.
Will be interested to see what you have ended up buying. Am interested in looking in South Australia for a splitter block around 300k in the next 12 months or so.
Was never contacted by the agent again regarding this property or any other properties, I even asked to be contacted if he has any properties similiar as I would be ready to make a cash offer. Also at no point did he come back with a counter offer, likely if he came back with $300k with 30day settlement would of happened.
I ended up buying in Highbury, cost me $35k more. But better area, not on main road, bigger block, better buy IMO.
Thread here http://somersoft.com/forums/showthread.php?t=94688
I ended up buying in Highbury, cost me $35k more. But better area, not on main road, bigger block, better buy IMO.
Thread here http://somersoft.com/forums/showthread.php?t=94688
