- Tony BMember@tony-bJoin Date: 2008Post Count: 130
Can anyone shair their expiriances with agents & making offers. I want to make an offer on a place, its over priced IMO and by comparison to other places in the some are. Before I make my offer I would like a sect. 32 & contract , as I requested. I was told we dont bargan on the prices because thats the going value. So I get the feel if you are not going to pay the price I wont give you a sect. 32 simple as that.
My understanding is I have the right to make an offer. To make my offer offical I need a sect32. (offer is usless if purchaser has not seen a sect 32)
My offer has to be in writing (see instruments Act. all offers for sale of land mast be in writing) True or faulce?
The person selling the house is acting as an agent for the vendor. My understading is she must pass on any offers presented to her.
I understand she is trying to get the best price for the vendor + the best commishion for herself. My point is what about me. I want to save a few bucks and make an offer I can afford and think its worth. Why should I be pushed aside, as a cash buyer unconditional 30 day purchaser I think they should be taking me a bit more seriously. Has anyone got any ideas about how to make an offer. This woman is very aggresive and makes it dificult for me to neg. a price or even make an offer. I dont want to quote the law to her as to what she must do, but I may not have much choice.
I have expirianced this with another agent who kept a house for a friend who promised him a listing. I was told it was sold. When it was not. Why do some agent act like this? Is my honest approach wrong? Is it wise to tell them you will go unconditional, 30day up frount? I feel when you do this they think you are full of S### and they dont call you back.
Any advice would be of help.
T……………….Matt PMember@matt-pJoin Date: 2003Post Count: 645
When I was studying my for my real estate licence it clearly stated that any offer made to the agent must be passed on to the client irrespective of how ridiculous it may be.
Legislation may have changed since then but that is my understanding.
Maybe someone who else more knowledge on the topic may be able to elaborate.
Kind regards,TracyDMember@tracydJoin Date: 2005Post Count: 85
Call the Real estate institute in the state you are buying the property. i think there may be differences in each state?mackarMember@mackarJoin Date: 2006Post Count: 106
IMO, most purchasers believe the house they wish to purchase is overpriced… !!
when you purchase a property why not sit down with agent to write up offer without verbalising price first,
as sometimes it is important, initially, to ensure the conditions of your offer are written
down also & are as important as price…
once it is written, then give agent the dollar figure you wish to add to offer.
The agent will give offer to vendor as they have to legally present all offers…
plus the time spent writing it down will ensure they submit to vendor….
…just an idea??Wendy ChamberlainParticipant@moorewJoin Date: 2003Post Count: 58
Yes, in Victoria you need the Section 32 first in order to make an offer. I'd ask for the Section 32 without further discussing the price with this person. Once you have the S32, you can make your offer in writing. Agents are supposed to present all offers to the vendor, however they may merely tell the vendor an offer has been presented but it is far below what is being asked.
Ask for the S32, make an offer in writing and if the agent is still being difficult report her to REIV. At the very least, give them a call to see what their position is on the matter.
Good luckJon ChownMember@jon-chownJoin Date: 2007Post Count: 254
Tony, As an Agent, I am always happy to take any reasonable offer in writing, however if I feel that the Buyer is simply out of touch or way off target, I preferr to make the offer verbally. Playing games with low offers does not assist in getting the eventual sale price down, it only gives the Buyer less credibility and gives the Agent the ability to promote the low offer to other prospective buyers and create a dutch auction. I'm sure that everyone dislikes this process as much as I do, but our job is to get the most for our Seller.
While verbal offers are not necessarily binding, you may flush out a likely sale figure and proceed to formal offer if it is in your price range – if it's not, what have you lost? You were never going to buy anyway.
While a cash offer is good, has it got other conditions such as Building and Pest? If so it does not necessarily equate to a dsicount in price – All properties that I sell go for cash money eventually, provided that they pass the Building and Pest clause or any other clause a Buyer may wish to place on the contract.Tony BMember@tony-bJoin Date: 2008Post Count: 130
quote=mackar]IMO, most purchasers believe the house they wish to purchase is overpriced… !!
Yes Mackar I think you are right . This is what Ive expirianced in the past, but it eventually sells ( to someone elles). I may be forced to pay the extra they are asking and be done with it.
My offer was going to be totally unconditional. I feel this combined with a low offer may have indeed lost me my credability. However, I always say talk is cheap but money buys the drinks. It seem vendors will hang out for a few more bucks on conditional contracts. I also think power is taken from an agent when an unconditional 30 day offer is made, some may feel they are loosing some of their weight. Thank you for your comments I found them usfull its good to see from an agents perspective.
I now have the 32 but no contract. Is it safe for me to use a standard contract note, after all, its offer, deposit, settlement date. No special conditions, I cant get into the office as I have to work. Let me know if you have any more thourghts.
Thanks to all who replyed, much apprecated.
T……..Jon ChownMember@jon-chownJoin Date: 2007Post Count: 254
Hi Tony, Unfortunately, I can't be of much assistance with contract law in NSW or Vic as both States have dfiierent contract law. I was under the impression that the Lawyers drew up the contracts in NSW not the Agents and I have no idea about Vic. Given that people move around Australia so much now days it would make sense if contract law was the same throughout this fine country, however when it comes to common sense and lawyers or politicians, it is usually lacking.