在澳大利亚 I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo
For those that put offers in with a timeline, has anyone done so with a 30 day period?
Obviously it wouldn't suit all cases, and there are pros and cons. What does everybody else think?
24-48 hrs is what we use.
Can't see any benefits for you to leave it longer...??
Yeah kathryn's right I don't see any point having an open-ended offer for 30 days....that's just ridiculous. That gives the vendor/agent 30 days to shop you around...and they can make you buy the property at their sole discretion. A recipe for disaster...
isnt the whole time limit meant to make the vendor panic that the offer wont b there after that time and accept it?
so giving them such an open offer gives them time to wait for others
My first question to the rea is regarding the whereabouts of the vendors on the day I am signing a contract, so there are no qualms about my same day expiry. Otherwise faxes are used.
Occasionally I give overnight and one one occasion (knowing they were five minutes away) made it as hasty as 30 minutes.
30 day offers timelines have all the power in the vendors court and unless your pockets are deep and looking at multiple properties, you are prevented from making offers on others. Such lengthy expirres may be more akin to purchasing skyscraper office blocks or perhaps resort islands.
If it's run of the mill resi houses whether for PPOR or as an IP, keep your timelines short.
FrugalOne said: ↑
For those that put offers in with a timeline, has anyone done so with a 30 day period?Click to expand...Do you mean an offer with a 30 day settlement period?
If so, then yes, it can suit some sellers if they accept a lower price in exchange for a quicker settlement.
I don't put a time limit on at all. But then, I've also never made an offer in writing.