bugger… looks like i might have to walk:(
i said to the agent that if I speak to my broker I may be able to get $180k – therefore please can you ask the owner to see whether it’s worth me speaking to my broker – and whether he is prepared to negotiate anymore…
He replied saying no, he won’t go any lower than $185k.
I think i’ll have to put in $180k and walk…
Wayne Leech
*Below are links to my websites – any feedback, comments would be appreciated:)
http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
http://www.homesearcher.com.au – List your property for FREE (Private sellers only)Wayne,
Hopefully the Seller or his agent hasn’t visited this website recently !!
Cheers,
Dazzling
“No point having a cake if you can’t eat it.”
Dazzling,
yeah that did cross my mind!!!
Hey Wayne,
If the agent is saying its not worth it, don’t bother putting the offer in yet. Let them come back to you.
Easter is also a bugger of a time to sell (in my experience anyway) and may have a change of heart over the weekend!
Nice call by the way Dazzling!!
cheers
Jan
hi jhopper,
the agent has replied saying that won’t go any lower than $185k – so do you think i just don’t reply at all?? Obviously though the agent will probably call me tommorow asking what i would like to do…
In regards to Easter – are you saying it’s usually harder to sell a property in Easter?
I thought that in Easter people would have more time than usual – therefore would use this time to drive around looking at more properties?
cheers
wayne
Hi Wayne,
Just thought I would add one thing that some of the other posts have touched on. Knowledge about the seller is very important in these situations. You don’t want to be bouncing prices back and forward over the phone every couple of hours. Ask the agent about the seller etc to get some sense of their motivation.
.
Also be very carefull about potential views, that is the ones you get if you build over the house in front. Make sure you are able to do what you are thinking of doing.
.
This all seems to have happened very quickly. You may find that you are raising your offer and the agent has not even had a chances to speak to the vendors ie you are bidding against yourself. Vendors may have said something like don’t bring me any offers under 190. 185 is probably a respectable figure that the agent would take to the vendor. That is, only 5k under so not so insulting. It’s true that in most states the agents are supposed to submit all offer but this won’t happen for many reasons. The agent may not be able to reach the vendors if they are busy with work etc.
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Anyway, the point I was trying to make was do it in writing. Verbals are a waste of time. Fax it and move on to the next deal. Get back on the net or in your car and go looking for more deals to offer on. Put all your energy into that rather than trying to force this one over the line.
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Establish up front that you are qualified buyer with the cash/finance/experience to do what you intend.
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Try not to stress to much about it. Have fun with it.
.
Good LuckDon Nicolussi | Mortgage Broker - Home Loan Warehouse
http://homeloanwarehouse.com.au
Email Me | Phone Me"I think of finance as a technology, a way of getting things done." Robert Shiller
Thanks Don and Liz!
This is what I know about the seller so far…
They bought two blocks a couple years back, with one being the one I’m after and the other being another one they have for sale.
These blocks have been on the market over 1 month now.
The owners live in Mindarie keys (quite a rich area), with the husband staying at home, and the wife working. The agent said that the wife is the decision maker as she makes all the money! Lol
The agent mentioned that when she calls the Husband, he then has to call his wife (at work) to relay the message. Maybe she’ll be a little easier to negotiate with when she’s not at work! hehe
After meeting the agent in person, and waiting for calls back and forth… I do believe what the agent says is correct – though I’ll keep that in mind:)
cheers
Wayne
latest update – 10.04am:
Owner has come back at $184k … still not $180k – though it’s getting closer!
Wayne Leech
*Below are links to my websites – any feedback, comments would be appreciated:)
http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
http://www.homesearcher.com.au – List your property for FREE (Private sellers only)Wayne,
After watching this all unfold – I’d say the seller wants to sell! So much for the “wont budge from $185k” line the agent was touting. This seller has been sitting on these blocks for over a month, has not sold either and along comes this person who keeps increasing their offer by the minute! (I don’t mean to sound harsh, but just step back and see how quickly you are costing yourself money!)I’d put your offer for $178.5 in writing, fax it thru and just wait until after Easter. The real money is made in buying well, not selling. The way building costs are escalating, that extra 1.5K may well be needed later in the job.
Just my thoughts – always easier for someone not involved to comment.
yeah agree – island dream!
i’m heading away over the easter break so i’m going to leave them with my final offer tommorow, and i’ll see what they say next week:)
Wayne Leech
*Below are links to my websites – any feedback, comments would be appreciated:)
http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
http://www.homesearcher.com.au – List your property for FREE (Private sellers only)Hey Wayne,
I think you have got the idea now!! Put the offer in writing then have a good Easter! As Island Dream has said, the buyer obviously wants to sell and has gone down from his “lowest” acceptable price.
I wouldn’t stress too much. If you can’t or won’t go above $180k there is no point getting worried any further. Let them chase you! As for my previous Easter comment, that is only in my experience so don’t take it as gospel!
Wayne,
If you really want that block and you only want to pay 180k, Tell the agent you will pay 180k and exchange contracts ie: at 4.00pm tomorrow with 10% deposit and no cooling off. And tell him thats you final offer.
RoboHi guys,
Update at 10.57am – thursday.
I justed faxed through my final offer of $180k with a ‘valid till 30/03/05’ on it.
The agent has responded saying they’ve come back with $182k.
I’ve told them that $180k is my final offer, and that I’m heading off to jurien bay for the weekend so if they change their mind to call my mobile!
Hopefully the easter spirit makes them drop another $2k!
Cheers
Wayne
Awesome!
I wish you well! If I see the Easterbunny (and can stop my dad from shooting it) I’ll tell him to get you that price! Well done.
My brother in law does that; goes in and tells them how much he wants to pay and if they refuse him he gives them his card and tells them “If you change your mind. You can reach me here” and walks off. Has had one person not get back to him! Not bad for a short fat guy……..[wink2]
Have a great easter every-one!
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonHi guys!
Guess what!! I just got a call saying they will accept $180k!!
YAY!!!!
thanks heaps for everyone’s advice!!!
Well done Wayne, congrats!!
Good on you Wayne!
Congrats. Look forward to your email foto…..Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonHI Wayne,
I would ring the agent back and tell him you have had a re think and your offer is now 178k.
Nah only joking. Well done. Now you have my problem, what to do with it. My wife wants the big expensive house and I want to build 2 villa homes. I guess time will tell.
Robohi robo,
haha:) yeah – I’m hoping to have one of my first IPs paid off in bout 3-4yrs – then I plan to use the rent from that IP to pay for a the mortgage on a 2 storey – allowing me to capture the ocean views:)
I’ve still got one more hurdle to get over, which is the finance. I’ve already seen a broker – though I just need my current IPs to come in at the right valuation then I’ll be heading down to the local bottle shop for the champagne!![biggrin]
Wayne Leech
*Below are links to my websites – any feedback, comments would be appreciated:)
http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
http://www.homesearcher.com.au – List your property for FREE (Private sellers only)Wayne,
You said you got a ‘call’….
Is the deal done ?? Do you have a copy of the signed off contract in your hand ??
Cheers,
Dazzling
“No point having a cake if you can’t eat it.”
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