Hi
I am new at this……..both putting in an offer for a property and participating in a forum. I have just put an offer in for a property which was rejected. The agent said the vendor was not even going to come back with a counter offer. My question is, should I have received something in writing and how do I know the offer was presented to the vendor? BTW the agent called me back with this information within minutes of me e-mailing the O & A Contract.
Troods
To the best of my knowledge the agent has to put any reasonable offer to the vendor.
We have stood accross the back garden and traded bids with the agent and vendor so it certainly does happen without any documentation.
Would you offer a higher number to try and find the vendors interest point?Thanks Nick. Yes I would offer more if a counter offer was made. The way I see it is I have signed a contract committing to the offer along with a deposit, if accepted. While I have nothing in writing rejecting my offer I feel I am bound by it. I’m not sure what the normal process is.
Hi Troods
Either the offer was low ball or the vendor has unrealistic expectations. Work out the max your willing to spend – if it’s more than what you’ve already offered, provide the revised offer with a time limit for a response. Don’t go straight to your max offer – allow a little wiggle room for negotiations.
Also find out what’s motivating them to sell – sometimes you can incorporate other things into the offer such as long/short settlement, rent back, ect.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Where did you get the offer price? What is it worth? Are you willing to go to that price?
What discussions have you had with the agent? eg does he know you have more money? Did he suggest signing a contract knowing the vendor would not accept your bid? If it was such a low offer did he not tell you you'd have no chance?
In NSW the agent must present all offers unless the vendor requests not to present offers under a certain price.Sorry about all the questions but there's not enough info.
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