澳洲Australia property Nagotiate price increase AFTER buyer has


在澳大利亚


The RE we are selling out Duplex through has just contacted me about some people who went through today.
They have put in a verbal offer for $275,000. We have the unit listed for $299,000 and really can only come down an other few thousand. It was origianlly listed at $310,000 as that is how much we owe.
The RE wants to get the interested people to sign a contact, then send it to us and we cross out the price and write our price in and initial it!!??? This would go back and forth until one of us says that's the final offer...

Is this the normal way of negotiating??

This is NOT how it was done for the house we sold in Corio...

This Duplex is for sale in QLD, would that make any difference to the procedure??

Any Help on this interesting situation would be appreciated!  

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MissMuffitt said: ↑
The RE wants to get the interested people to sign a contact, then send it to us and we cross out the price and write our price in and initial it!!??? This would go back and forth until one of us says that's the final offer...

Is this the normal way of negotiating??Click to expand...
That's how I've always done it in Queensland. :)  

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That is exactly how we have done it to buy - twice now in fact.  

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Obviously a Qld thing. I have never done that, but my purchases have been confined to NSW, VIC and TAS.  

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Quite common around my end of the woods as well. The idea bring that the buyer is then somewhat committed, emotionally, as they've now signed the contract (and paid a deposit?). Usually though the agent wouldn't ask you first; they'd just bring you a signed contract. You're then emotionally influenced to sign it, too.  

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It's a Queensland thing.

Once both parties sign a contract it is binding (apart from usual cooling off, clauses etc).

Agents like to have a signed contract to present to a vendor. it is a case of, "sign this, and the deal is done". It also shows the buyer is serious as it commits them to the purchase if the vendor signs (subject to clauses etc) and is therefore considered far stronger than a verbal negotiation.
Marg  

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MissMuffitt said: ↑
The RE we are selling out Duplex through has just contacted me about some people who went through today.
They have put in a verbal offer for $275,000. We have the unit listed for $299,000 and really can only come down an other few thousand. It was origianlly listed at $310,000 as that is how much we owe.
The RE wants to get the interested people to sign a contact, then send it to us and we cross out the price and write our price in and initial it!!??? This would go back and forth until one of us says that's the final offer...

Is this the normal way of negotiating??

This is NOT how it was done for the house we sold in Corio...

This Duplex is for sale in QLD, would that make any difference to the procedure??

Any Help on this interesting situation would be appreciated!Click to expand...
Sounds normal to me,plus it all depends on the psychology that a signed contract has on both parties,and that's when the affordability question comes into play,at least the agent is on the ball,and never let a offer slip out the back door..willair..  

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marg4000 said: ↑
It's a Queensland thing.

Once both parties sign a contract it is binding (apart from usual cooling off, clauses etc).

Agents like to have a signed contract to present to a vendor. it is a case of, "sign this, and the deal is done". It also shows the buyer is serious as it commits them to the purchase if the vendor signs (subject to clauses etc) and is therefore considered far stronger than a verbal negotiation.
MargClick to expand...
Spot on Marg,

There was once an agent I bought a property off in SEQLD, and he said he will write up a contract and put my pricing on it. This was before he informed the vendor that he had anyone interested. I signed it and put my price in the contract and shot it back to the agent. He then went to the vendor and showed them a contract. At their end, they were surprised and signed the contract the same afternoon and that was that.

You hear how some posters say that a written offer is better than a verbal offer??? Well I now actually print off a contract and sign it up and fill out as much as possible and send it to the agent. (with all appropriate clauses, etc).

I see it as a buyers tool, as this can entice the vendor to start packing his bags. Being a buyer, I still have 5 days with the coolong off period to retract the offer. If the vendor signs it, then I am the only one that can back out of deal within 5 days......(I think)

I don't like the idea that it keeps going back and forth from buyer to vendor. I generally offer the price I am prepared to purchase the property for and nothing more. There are plenty of other ones out there. This gives the impression to the vendor that you are serious and they can either take it or leave it.

Back to your question MissMuffit........ you suggest in your heading that the contract is signed by buyer.......no problems. Currently, they have offered a verbal price and have signed a contract on what they wish to purchase the property for. This verbal is not legally binding, and can be retracted. If you have countersigned the contract however, then this is a different story.

The buyer has a 5 day cooling off period, but do not think that you have any such entitlements.

If you are not happy with the offer, just tell your agent. Other things obviously need to be taken into account. (i.e. if it is costing you money on it, how active is the market where your property is, how long it has been on the market, etc, etc). If all is rosy, I would decline offer and await for other offers.....Otherwise it may be too good to be true....If you want to get out of there ASAP, the buyer may be cashed up and ready to go and can arrange a speedy settlement??

Cheers,

F  

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wow. learn something new everyday.  

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I have told the RE that there is absolutely NO way we will be signing anything for $275,000.
He has sent me an email saying that the interested people will be staying on for another couple of days, and want to visit the property again on Saturday.
He has given them a contract to fill out and then I guess the RE will send it to us after the people write in there amount!?...
I just hope that the RE is not mucking these people around and are letting them think that they might actually get the property for the offer of $275,000

Guess we will have to wait and see what happens over the weekend...

Wish us luck with this one!  

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Have you thought about ringing your agent as an interested buyer. You'll probably choke.  

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How did you go?  

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That's how I do it in Victoria too.  

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waiting to hear from RE

After a lot of going back and forth from the people we have finally put in our final price yesterday. So now we just have to wait for them to say yes or no. If they say No , we just wait for the next person. We are not desperate, and I actually was annoyed that the RE was trying to hard sell us to accept the low offer... I thought he was working for us not against us. :mad:

Well let you all know the eventual outcome...  

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MissMuffitt said: ↑
After a lot of going back and forth from the people we have finally put in our final price yesterday. So now we just have to wait for them to say yes or no. If they say No , we just wait for the next person. We are not desperate, and I actually was annoyed that the RE was trying to hard sell us to accept the low offer... I thought he was working for us not against us. :mad:

Well let you all know the eventual outcome...Click to expand...
Good to hear Miss Muffit.......

If you are not desperateto sell, keep your price (obviously be realistic).

Cheers,

F  

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MissMuffitt said: ↑
They have put in a verbal offer for $275,000. We have the unit listed for $299,000 and really can only come down an other few thousand. It was origianlly listed at $310,000 as that is how much we owe.Click to expand...
I know that you know that what you owe is irrelevant. :)
MissMuffitt said: ↑
I have told the RE that there is absolutely NO way we will be signing anything for $275,000. ... I just hope that the RE is not mucking these people around and are letting them think that they might actually get the property for the offer of $275,000Click to expand...
MissMuffitt said: ↑
We are not desperate, and I actually was annoyed that the RE was trying to hard sell us to accept the low offer... I thought he was working for us not against us. :mad:Click to expand...
OK, prepare yourself for some tough love, MissMuffitt. I've seen this situation time and time again, and I've been in your position before. I'm not unsympathetic, but I suspect you need somebody outside the transaction to give it to you straight.

The agent's pushing you to accept the "low" offer because he thinks he's going to have trouble getting a better one. Yes, I know that agents prefer a sale at "almost any price" rather than the property left on the market, but given that you've had it on the market for some time, at a reasonable time of year for selling and in an increasingly optimistic market, and have marketed at both $310K and $299K and the best offer you can get is $275K...

The market is currently valuing this property at (around) $275K.

The market value is a range, and yes, you might get up to $280K, or even $285K, but if you're not desperate and wouldn't consider such a low price, I would suggest you take it off the market and wait for the price to increase. But leaving it on the market and hoping that somebody is going to pay $310K for a property that's worth $290K maximum, but certainly not $310K, is only going to cause you more angst.

Please don't think I'm unsympathetic; the truth can be brutal. But it's always better to make decisions based on reality rather than fantasy, and I hope this is helpful.

Good luck! And if you get a buyer at $299K, I'll be delighted for you. It's not impossible, I just don't think it's likely.  

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MissMuffitt said: ↑
... I thought he was working for us not against us. :mad:

Well let you all know the eventual outcome...Click to expand...
The only person they work for is themselves,and play both sellers and buyers off each other,always been that way always will,i hope it all works out for you but at the end of the day there is only 1person that can make it all work,and the agent has no power over that only you,after all there is only your name on the paperwork ..good luck willair..  

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We have it listed with 3 agents, and the other 2 have said that the market is defiantly picking up!
The other agents have told me (2 different people) that the property is the only one in that price range at the moment and that it is "Hot in the market" for this reason.
The other 2 RE have made the majority of sales in the area, the one who was pressuring me has only made 5 in the last few months. One RE said that he thought they were pressuring because they were scared that they would loose the sale. The property is well prices at $299,000 and we will come down to $295,000 if and when we need too.

We will just wait and see what happens next... It's all a waiting game.  

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What you've described above does not fit my objective view of a property that's "hot in the market". How many other interested parties are there? How many new parties have the agents taken through in the last two weeks?

I suspect given how long it's been on the market, that the price has already been reduced and you're commenting on an offer at a price that you don't want, the answers may be "none" and "not many".

I think ozperp's given you a dose of tough love, but her advice is fair. You've found your market price. If it's not acceptable and there's no rush for a sale, if it were me I'd be taking it off the market and reintroducing it some time down the track.

Good luck MM.  

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Gremlin said: ↑
What you've described above does not fit my objective view of a property that's "hot in the market". How many other interested parties are there? How many new parties have the agents taken through in the last two weeks?

I suspect given how long it's been on the market, that the price has already been reduced and you're commenting on an offer at a price that you don't want, the answers may be "none" and "not many".

I think ozperp's given you a dose of tough love, but her advice is fair. You've found your market price. If it's not acceptable and there's no rush for a sale, if it were me I'd be taking it off the market and reintroducing it some time down the track.

Good luck MM.Click to expand...
We had it on the market with only 1 agent (The one who had only made 5 sales in a few months)and they I think only showed about 1 or 2 lots through. In the last 2 weeks we have gone with another 2 agents, both of which have been proactive in showing people through, I would say at least 4 or 5 lots have been through with the one agent just over the last weekend. The one contract that we have had was through the original agent.

IF nothing happens in the next few weeks, we will probably take it off the market for a couple of months and see what happens, the tenants lease runs out on the 18th of Feb, so might leave it empty and see if it's easier to sell with out a tenant in place (It's a holiday area) so people might buy to have it as a holiday rental.

Only Time will tell.

I do appreciate everyone's advise... Hope you all have a great new year!  

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