Browse Forums Real Estate 1 Sep 23, 2013 4:07 pm Our offer on a house was accepted, but we have been advised due to location, don't buy it. We haven't signed a contract, only a letter of offer and had verbal acceptance. Conditions were subject to finance, building & pest. If we choose not to go ahead with the purchase, as we haven't signed a contract or paid any deposits, is it just as simple as phoning the agent and advising we no longer wish to buy it? Re: Offer accepted ... but have been advised don't buy it 2Sep 23, 2013 6:44 pm Yes. Until you've signed a contract nothing is binding. Even after signing, you have a cooling off period of 5 business days, unless you waive it, and then you only lose a little bit of the deposit. As an aside, do you trust the advice about it not being a good location? Did you research the area first? 4 Re: Offer accepted ... but have been advised don't buy it 3Sep 23, 2013 6:49 pm That is what I thought. Yes we researched the area as much as we could, it would be fine for us, we just wouldn't get out of it what we want long term, and yes we trust the opinion, we have lived in Brisbane (and Australia) for 4 years, the opinion we are trusting has lived here all his life and buying/selling houses and investment properties for a good 20 years. Awesome house with an awesome view but we are leaning towards walking away from it while we still have the option. Re: Offer accepted ... but have been advised don't buy it 4Sep 24, 2013 6:57 am strawberry234 That is what I thought. Yes we researched the area as much as we could, it would be fine for us, we just wouldn't get out of it what we want long term, and yes we trust the opinion, we have lived in Brisbane (and Australia) for 4 years, the opinion we are trusting has lived here all his life and buying/selling houses and investment properties for a good 20 years. Awesome house with an awesome view but we are leaning towards walking away from it while we still have the option. Just my opinion, if I buy a property to live in for some time then I would trust my own research/ needs/wants/gut. If I buy as an investment ( and I see property as a longterm investment rather than a short term speculation) local experienced advice would come into the decision as well as my own requirements. Re: Offer accepted ... but have been advised don't buy it 5Sep 24, 2013 7:03 am I think when it comes to a house you love and want to live in, it's an entirely different situation to buying a house for investment purposes. Build thread: viewtopic.php?f=31&t=65085 Re: Offer accepted ... but have been advised don't buy it 6Oct 01, 2013 12:11 pm You say you won't get out of it what you want long term. What is it you want long term? Are you talking about money? capital growth? Does the person have a crystal ball? What about your life in the meantime? If it's a great house with a great view, what are the negatives? This is to live in. It's not an investment so you need to look at it from a life perspective not just how much money you'll make out of it. Although I do admit it's nice to have both. If you let this go, what are you looking for? Do you have a specific thing in mind? Because if you don't you may end up with nothing. Re: Offer accepted ... but have been advised don't buy it 7Jan 05, 2014 9:03 am What's so bad about the proposed location? Re: Offer accepted ... but have been advised don't buy it 8Jan 05, 2014 10:11 am strawberry234 That is what I thought. Yes we researched the area as much as we could, it would be fine for us, we just wouldn't get out of it what we want long term, and yes we trust the opinion, we have lived in Brisbane (and Australia) for 4 years, the opinion we are trusting has lived here all his life and buying/selling houses and investment properties for a good 20 years. Awesome house with an awesome view but we are leaning towards walking away from it while we still have the option. Yes this is a bit hard to believe you are walking away from awesome house with awesome views (sounds like a hint of regret already) just because someone else is talking you out of it. Quality of life and investment objectives are often opposing and force compromises. Finding a home that will do all of that can be difficult. Only you have to decide what is important to you, trust your gut. 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: Offer accepted ... but have been advised don't buy it 9Jan 18, 2014 11:30 am It all looks so good, but you've been advised there is a obviously big issue with the location. Are you able to elaborate on what is the problem ? Owner Building at Jimboomba Woods in Logan City Qld. Blog : http://bandlnewhomebuild.blogspot.com H1 thread : viewtopic.php?f=38&t=68283 . Re: Offer accepted ... but have been advised don't buy it 10Jan 23, 2014 1:54 pm Trust your own instincts. I agree, does he have a crystal ball? When we buy property, there is always going to be "expert" who has to give "advice" on the area you are buying in. I am curious as to what suburb you are talking about. Re: Offer accepted ... but have been advised don't buy it 11Jan 23, 2014 4:58 pm I suspect that four months later they've already made their decision and have lost interest in this thread. Completed a knock down and rebuild in northern Melbourne. Handover completed 27/09/2013 and now moved in. Re: Offer accepted ... but have been advised don't buy it 12Jan 24, 2014 12:14 pm Thanks, didn't notice the date You have mandatory building inspections and privately engaged building inspections. 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