All Topics / Help Needed! / Getting the ball rolling on a purchse

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  • Profile photo of dammitdammit
    Member
    @dammit
    Join Date: 2005
    Post Count: 43

    Hi all

    we agreed on a price of a property purchase with the vendor on Tuesday, & its a 'done deal' – at least verbally. anyways the REA said he would post a copy of the contract to our house address, a copy to our solicitor and a copy to the vendors solicitor on Wed. So heres friday and it still hasn't arrived, so I called him and he said that he only has 1 copy of the contract which stays in his office, and he has told the vendors solicitor to post a contract to our solicitor, which still hasn't arrived. the REA said we just need to wait until we get the contract & to sit tight and it should be there soon.

    for a standard private treaty in NSW does it usually take a week from verbal agreement of offer to get the contract & then to try and get exchange to happen quickly? meanwhile the property is still listed in the REA's window & online, we dont want to get gazumped…

    i know i am probably being impatient, but im just wondering if this is 'normal' or if it seems like someone is dragging the chain a little? it is a buyers market & there were several diff. people interested in the property and thats why im just a little worried, especially since its now the weekend and we wouldnt know if they are still showing people through the property to try and get a higher offer… we dont want to lose it to someone else and we dont want to organise our pest&build inspections till after we've exchanged (vendor agreed to our offer being subject to pest/building).

    Any advice appreciated :) thanks all.

    Profile photo of dammitdammit
    Member
    @dammit
    Join Date: 2005
    Post Count: 43
    Profile photo of dvs1962dvsdvs1962dvs
    Member
    @dvs1962dvs
    Join Date: 2006
    Post Count: 24

    Sorry dammit, I  don't have any experience except in the SA market where it's not done that way.  I hope it works out ok..let us know.

    Profile photo of pinknic20pinknic20
    Member
    @pinknic20
    Join Date: 2007
    Post Count: 52

    I am in queensland and work in real estate and trust me the agent works until all hours to have that contract signed by all parties. until that contract is signed you have nothing someone else can put an offer in and you would have to compete for it, chase him up and hound him till it's done don't sit back if you think you will kick your self later about it. An agent always works for the seller.

    Profile photo of YnotnowYnotnow
    Member
    @ynotnow
    Join Date: 2007
    Post Count: 24

    its not normal but it took longer than two weeks until my contract arrived  but  all worked out in the end…I'd say get your solicitor to contact the vendors solicitor ,so you are at least sure they are  informed about you being the buyer and advised to send you a contract… and yes call agent again 

Viewing 5 posts - 1 through 5 (of 5 total)

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