Browse Forums General Discussion 1 Jan 29, 2013 6:52 pm Hi, I am a newbie to this forum and to property full stop. I had an unusal experience with a agent today. Found a house and wanted to make an offer. However the agent insisted that I sign the contract and I put my offer price on it when he sends it to me, i then scan it back to him with our 0.25% and then he will then present offer to the vendor. I have no problem with signing as we will still utilise the 5 day cooling off period. His theory was that he wants them to see we are genuine. The house does tick all the boxes for us, and is in a high turnover area, he has also had alot of interest since it was list, a few days ago. I can sort of see his logic, just found it a bit unusual. Has anyone else experienced this before? Re: Real Estate Agent - A bit unusual ? 2Jan 29, 2013 7:04 pm I believe all offers to the vendor must now be in writing. I'm not sure about whether that involves signing a contract or not. Years ago when I purchased my block I had to leave a tiny deposit and put my initial offer in writing. It also helps weed out time wasters. Custom downslope build Build thread viewtopic.php?f=31&t=61873 Blog http://www.buildingroyalmanor.blogspot.com.au Re: Real Estate Agent - A bit unusual ? 4Jan 30, 2013 7:18 am What Merlin said. Any time they try and force you into signing something NOW I get suspiscious and get the solicitor/conveyancor to look it over. I just brought a block of land and didnt need anything in writing, I just said to the REA "We'd like it for $x" and she called the vendor and asked him his thoughts. (He said 'no', we said 'ummmm yes', and he said 'oh okay then' lol) - MrsT Brought first house in 2008. Renovated...a LOT. Built in 2013. Our thread: viewtopic.php?f=31&t=67954 Re: Real Estate Agent - A bit unusual ? 5Jan 30, 2013 7:44 am Do you live in Qld ? It seems to be a habit there now ! Re: Real Estate Agent - A bit unusual ? 6Jan 30, 2013 7:55 am Thanks, I have been thinking about it and well, theres not to much of a risk. All we are parting with is 0.25%, as a lot do to show genuine offer. We have been looking in the area for a couple of mths now. Anything like this place is sold witin 2 weeks, somethings contract in first week. We viewed this place before any open homes, and it is only by luck we found it, we stopped outside an agents while waiting for another open home, and he had lsited it that day. The property will sell for our offer price it is a good 600m2 corner block, not investers selling, an elderly ladie has moved into home, and daughter is selling. Even if house is a right off, which it isnt as I have checked it over, the price we have offered is consistent. I think the agent is genually interersted in putting a genuine offer in front of the vendor, so they then dont even have to have an open home and sell within week of being on the market. I dont think they realsie how sort after this type of block is in the area. Anyway the worst we do is lose 0.25% ($1000), if we pull out, not much to secure the property. If a property like this was sitting on the market for a while, I would def back off. Thanks to all and will let you know how it goes. Re: Real Estate Agent - A bit unusual ? 7Jan 30, 2013 8:39 am aza Anyway the worst we do is lose 0.25% ($1000), if we pull out, not much to secure the property. If a property like this was sitting on the market for a while, I would def back off. Thanks to all and will let you know how it goes. Last property I purchased (6 months ago in Qld) involved a signed offer with low ball price. It was enough to show genuine interest so negotiations commenced and 2 weeks later we settled on terms and price, re-signed the contract with amended price & details, then the deposit was paid. No REA that I was dealing with ever mentioned a fraction of a % to show ‘genuine interest’. I find it quite strange to ask for this especially as you allude to, it is not refundable. ----------------------------------------------- http://pab34newdigs.blogspot.com.au/ ----------------------------------------------- Re: Real Estate Agent - A bit unusual ? 8Jan 30, 2013 9:06 am It can be viewed here at fair trading NSW http://www.fairtrading.nsw.gov.au/Tenan ... offer.html Re: Real Estate Agent - A bit unusual ? 9Jan 30, 2013 9:25 am aza It can be viewed here at fair trading NSW http://www.fairtrading.nsw.gov.au/Tenan ... offer.html There you go. I wondered what I was going to learn today....... It's interesting that they are even asking for the 0.25% - maybe the turnaround in the property market is starting. In a flat/slow market (as it’s been in Brisbane) showing any interest in a property last year had the agents salivating – I ended up with half a dozen ‘new’ best mates. ----------------------------------------------- http://pab34newdigs.blogspot.com.au/ ----------------------------------------------- Re: Real Estate Agent - A bit unusual ? 10Jan 30, 2013 10:21 am I have found it common - but not universal - for someone to put in a small amount when making a written offer; as said, it's a way of indicating that you are serious about the offer. Second last house I sold did it that way since they needed more time to come up with the full deposit. (they had finance troubles; it eventually came through but it definitely wasn't a great experience as a vendor.) My most recent house sale was to someone who presented a cheque for a full 10% deposit with the written offer and was not subject to finance. It was much less stressful. Land settled May '14. Building the PD Hoffman39: 5/11=site start, 13/11=slab pour, 26/11=frame complete, 10/12=roof on, 12/12=bricking started. Blog: http://jyndeira.net/blog/ Just to makea point about this, an approach that some people have found sucessful in negotiating these rises down, Is to provide some workings to the builder, specifying… 4 81716 Before you rip it up, if you can in the grout lines, drill some holes and pour/inject techgrip by sika. I have used it to bond mdf to timber, but in the process it dripped… 1 4290 Not much in this responce. My suggestion is, what are you looking to build and why. This will all be impacted by the local councils planning scheme. Familiarise yourself… 6 5862 |