First Home Buyer

MrsC86 · Jun 25, 2013 8:38 pm

Hey all, I am new here, and just after advice

Just had a look at a house we have been eyeing off online the other week, and after waiting a few weeks on finance, we finally got our pre-approval and were able to make an offer.

They have the house up for $379k, but this house has been up for sale for 6 months, no one is living in it, and it is a bit of a mess and has lots of little things needing done to fix it up... and the Real Estate agent said that if they didn't get any offers they'd be putting it up for rent... so surely they'd rather be keen to sell over renting right?

Anyways, we started the offer process at 310k, which she refused to take to the seller, so we left her with 330k... she was happy to take that to them... she rang the next morning, and said as she thought the seller refused and said to cut to the chase whats our highest offer and she'll see what they say, so I left her with 340k on Saturday lunch time.... Its now Tuesday night and I still haven't heard back?? They did have an open house on Sunday - so there is the possibility they could be waiting on a better offer right? or would they legally need to say no to our 340k before taking someone elses offer?

Yes I am a little emotionally attatched to this house, but IF they say no I will be happy to walk away knowing we gave it a crack...

I just wanted to know how long can they leave it before letting us know when our final offer is accepted, as we only have a pre-approval and I REALLY don't want to go through that process again to buy a house...

travelbug · Jun 25, 2013 10:39 pm

They have no obligation to get back to you.
Nor do they have the right to refuse to submit your offer to the vendor (unless specifically instructed not to present offers under a certain amount).
Don't seem to keen. Maybe go to the open, suss out what's happening. Tell the agent you would like an answer as you have other properties to consider. It's a good idea to put your offer in writing and have an en time on it. eg this offer is valid until 5pm on DATE>.

You don't want to go through what process again? Getting pre approval? You can take that to any house. Just get a loan amount.
Good luck. Sometimes you have to look at lots of houses. When we bought our second PPOR we looked at over 100 houses. Some I HAD to have, some hubby didn't like. But in the end we found a lovely home. Sometimes you think that's the house you HAVE to have but there's another one around the corner.

StGeorgeBuild · Jun 25, 2013 10:42 pm

They don't need to legally say yes or no to the offer. The offer doesn't hold any legal ground, its just you saying you are willing to offer this much.

I would withdraw your offer, and re-submit your best and final offer with a deadline. If the deadline passes then move on.

If they do accept, then complete the contract. Once the contract is signed, the vendor can't cool off (but the buyer generally can).

StGeorgeBuild · Jun 27, 2013 7:53 am

What did you end up doiong?

Is this the same place? Sounds very similar http://forums.whirlpool.net.au/forum-re ... ?t=2116468

MrsC86 · Jun 27, 2013 12:45 pm

Still waiting - haven't done anything yet... Yes that's me there too - Thought to post on another forum to get more advice.... they all say on there to do nothing...

jellybelly · Jul 09, 2013 7:37 pm

MrsC86

Anyways, we started the offer process at 310k, which she refused to take to the seller,..

Thats outright illegal, right there !

matt_will_fix_it · Jul 11, 2013 8:43 am

It's not illegal. In the agreement between vendor and agent the vendor can state they only want offers over x amount presented to them.

MrsC86 · Jul 14, 2013 7:12 pm

Just thought I'd let you know - they didn't accept our higher offer, so we went and looked elsewhere, found a much nicer house in out price range (only downside is its on the main rd of our town)
Days after offer was accepted and the ball started rolling the RE agent from the first house we made an offer on messages us and asks if we'd be keen to buy it for 355k.... insanity, still out of our price range and that house was so not worth 355k!!