Browse Forums General Discussion 1 Jan 17, 2014 4:42 pm The agent who's dealing with the block of land I want to buy is asking me to provide my credit card details at the time I make the offer, before any negotiation takes place. Then if things proceed he will deduct $1,000 (which will eventually form part of the deposit, I presume). Is this standard practice and do I have to do this? This is for a land purchase on the Sunshine Coast. Re: Agent wants my credit card number just to make an offer 3Jan 17, 2014 8:01 pm Turn around and RUN ..... Run very fast away from someone who is only interested in your credit card details. Of course if you are at that stage to make an offer and put a deposit down, then perhaps he's only suggesting it might be easier to put down the deposit on your CC. Owner Building at Jimboomba Woods in Logan City Qld. Blog : http://bandlnewhomebuild.blogspot.com H1 thread : viewtopic.php?f=38&t=68283 . Re: Agent wants my credit card number just to make an offer 4Jan 17, 2014 8:02 pm Hi, I don't think it is normal. Ring the Real Estate Institute, the Australian Property Institute, and the local Consumer Authority. http://www.complaintline.com.au/real_estate_agent.html Cheers Re: Agent wants my credit card number just to make an offer 5Jan 17, 2014 9:02 pm I would tell him you don't have a credit card and your deposit will be paid via other means. If he baulks then I would walk away. Researching a build in South Australia from Sydney. Re: Agent wants my credit card number just to make an offer 6Jan 19, 2014 6:35 pm This was our experience - For the first block of land we were interested in we gave a 1k deposit when we made our offer. The agent mentioned it was to prove how serious we were about it. We couldn't come to an agreement with the land price so we got our 1k refunded to us, no hassles. With the 2nd block of land, same thing with giving a deposit when we made an offer except we ended up purchasing the block. Re: Agent wants my credit card number just to make an offer 7Jan 19, 2014 8:29 pm No way. We used a direct funds transfer for our deposits (a hold deposit on one block and when it turned out to be no good, a proper deposit on the one we stuck with) and then any other payments up until contract signing were done by cheque. There was never a mention of credit cards and I would have declined if there was! - MrsT Brought first house in 2008. Renovated...a LOT. Built in 2013. Our thread: viewtopic.php?f=31&t=67954 Re: Agent wants my credit card number just to make an offer 8Jan 20, 2014 3:34 pm this would be illegal in Qld, and I would be surprised if it wasnt so in all other states. You put a deposit down when you sign a contract subject to your provisos. Under no circumstances should you give C/C details to an agent just for making an offer. I would refer this to your state based Fair Trading office ot see what they say about it. Re: Agent wants my credit card number just to make an offer 9Jan 20, 2014 5:43 pm There is nothing wrong with putting down 1K as negotiating tool, I have done it myself but with a cheque. The problem with credit cards is that they could be misused and there are many real estate agents with questionable integrity so I would not give my numbers. However we get most of our customers paying by credit card over the phone so I guess it depends. Foremost Building Expert in Australia,assisting with building problems/disputes, building stage inspections,pre-contract review advice for peace of mind 200 blogs http://www.buildingexpert.net.au/blog Re: Agent wants my credit card number just to make an offer 10Jan 24, 2014 3:49 pm just ask him why he wanted your credit card details. Don't hire a tradie until you have checked his / her background. http://serene-scene-landscapes-review.blogspot.com.au/ Re: Agent wants my credit card number just to make an offer 11Jan 24, 2014 4:54 pm Probably nothing in it but he could ring you and do it over the phone on the day if he wished. Or do a trf of funds. Re: Agent wants my credit card number just to make an offer 12Jan 25, 2014 4:18 pm building-expert There is nothing wrong with putting down 1K as negotiating tool, I have done it myself but with a cheque. Why would you pay to negotiate? do you hand $50 to the salesmen at The Good guys before you haggle about a fridge price too? Some one explain to me exactly what putting down money as a negotiating tool does for you? Does it 1. show the seller you have cash, and are serious? 2. show the RE agent you are serious and not a time waster? And what happens if you dont negotaiate a deal? The money must be handed back to you , so its handover was pointless in the first place. No way would I ever do it. Not for negotiating. ITs a sign of the times just how silly things are getting if this is beig tried on. In Qld an agent cannot legally "demand" money this way. 2 23066 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 2994 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 4955 |