Forum Replies Created
As we know, realtors ‘should’ take all offers to their vendors, its their legal responsibility – no matter how much they like/dislike the purchasing parties. Kay, what happens if someone makes a better/cleaner offer?
Gazumping is such a NSW thing – Qld and Vic contracts are pretty effective at minimising this, as we happily sign contracts ‘subject to’. Really don’t find it an issue here in balmy Qld (24 in the shade today)
The difference in commission on $420k vs $430k is ZIP – the difference on $420k and $0 is significant….agents will position a cleaner contract over a not so clean contract every day of the week ending in a ‘y’.
As such Jo, I accept the challenge, a ‘sure deal’ at $10k less is better for the realtor (and most possibly the vendor!!!) – its a commercial decision when compared to extended settlements/conditions whereby other interested parties drift off and find other places to the detriment of securing secondary offers and dwindling impact of marketing exposure.
Agents look at contracts not personalities – not always true, but hey, its a commercial transaction.
If i ever sell a place, yep, keep the verbals to the tea room – put it in ink or its in the sink…
hi chris, outside of ‘banks arguing the val is for internal use only’ ie. theirs not yours – your post is a grey area…what do you mean?
a. he/she who provides the hard and foldings is NOT a hanger on..
b. advertised asking price does NOT = value
c. ..undervalue…settlement time…sale price…true valuation… what???help me, i am not following this at all.
Really comes down to the conditions – i’ve had clients recently purchase at a lesser price as their contract was subject to finance and building / pest – the competing contracts where subject to same plus sale of existing property.
my clients offer was obviously ‘cleaner’ and therefore more acceptable despite being a lesser price.
kay, interesting concept – imho, you have nothing until you sign something – and i have to say, your faith in the integrity of sellers and their real estate agents is without a doubt fantastic – no doubt this has worked for you as you wouldn’t say so otherwise.
call me crazy, (mmm crazy brahms…) but if its not in writing it aint worth the paper its not written on….
my dream ain’t a 4×2 dog kennel with my neighboures bed closer to me than the street!!!
why are you building so close to your neighbours bed?
Dave
(hey what, by jingo by crikey, did you say property boom, not here in Qld by crikey – its just those southerners buying us out of house and home and pumpkin scones)
Seriously, the reason you need to buy a double block on Russell Island is that the first block goes under water every high tide.
These blocks are the finest examples of ‘water views so real you can reach out and touch it!!!’
Invest the $30k with a currency trader at the NAB – your return and level of personal satisfaction will be similar….he he (imho)
cheers
brahms
self employed with abn for 2yrs plus = Macquarie
others to consider / discuss with your broker are CommBank and as Rams will be reworking their low doc in the v.near future, this may be an option to consider as well.commbank don’t do fixed, other two do, St G and Suncorp not attractive due to MI and net asset position required.there are some new deferred establishment fees to consider – back to you
cheers
Brendan Heagney
Mortgage Broker
0438 436383If you don’t ask, the answer is no!!
r u looking for 60, 80 or 90% lvr?
cheers
Brendan Heagney
Mortgage Broker
0438 436383If you don’t ask, the answer is no!!
Hi Gatsby
1/yes – try to avoid ‘probationary’ period
2/obviously it is always better to secure a new position first – as long as a gap is plausible no real issue there (other than your personal cash flow of course)long time with same employer or industry is generally a good thing – having a few employers in the last few years in the same industry is generally not challenging to lenders – as long as a plausible thread can be drawn
all the best with it – this part is pretty straight forward – I’ll leave you to juggle the other stuff
hi Phil – bit unlikely but if you don’t ask the answer is no.
any specific reason why the vendor will take it off the market for 12 months? has it been for sale for ever or something?
cheers
Brendan Heagney
Mortgage Broker
0438 436383If you don’t ask, the answer is no!!
is this a chain letter….and no, you may not have one of my dollars..
cheers
Brendan Heagney
Mortgage Broker
0438 436383If you don’t ask, the answer is no!!
hi falcon,
the answer to your initial question is yes.
sorry to be pedantic, but despite all the other posts, what does $60k equity mean?
is is the existing property is worth $200k and you owe $140k, or…please detail as without this knowledge any reply is crap.
cheers
Brendan Heagney
Mortgage Broker
0438 436383If you don’t ask, the answer is no!!
Hi Robert,
a couple of questions come to mind…why?
1. are you renting out this property (at a loss)
2. where are you living now?
3. tell me more…cheers
Brendan Heagney
Mortgage Broker
0438 436383If you don’t ask, the answer is no!!
no offence taken and none given – your written word is consumate evidence of your professional position, IMHO this is a common position supported by the vast majority of profesional mortgage brokers who openly advise their clients of the good, bad and evil of mortgage finance (and need i say it, relative commissions earnt)
cheers
Brendan Heagney
Mortgage Broker
0438 436383If you don’t ask, the answer is no!!
commercial often is distorted significantly on rental returns
(lots of smoke and mirrors here) be very careful, what you see is often not the reality- essential to purchase quality, at actual not ‘book’ rentals, with quality tenants on quality leases. be very confident in your solicitor.cheers
Brendan Heagney
Mortgage Broker
0438 436383If you don’t ask, the answer is no!!
Simon, surely you mean NAB don’t pay commision to brokers for deals to existing customers (transparent)
Alf, unfortunately the allocation of ‘personal banker’ sounds better than it actually is. and again, unfortunately your experience is not uncommon. however…
if you are not disadvantaged by x-coll of properties, and the finance deal is competitive, and you are purchasing quality properties (and the other properties in your portfolio are quality and you retain a minimum of 20% equity overall) plus your personal income stream is sound –
why are you worrying about this? after all, your posts haven’t mentioned any hesitation by your lender to fund any further purchase, or have they?
Brendan Heagney
Mortgage Broker
0438 436383k_nasser
obviously your finance was approved on the information you gave the funder, as such, you are able to meet the repayments with the assistance of the rental stream.
the deal is negatively geared which i trust suits your current financial situation. if you have purchased in an appropriate appreciating area, your net position will shortly support you, your cash position may require topping up – accordingly this is a taxation issue best left to you and your accountant.
by the way, what exactly did you find interesting in ‘the book?’
cheers
brahms
If you don’t ask, the answer is no!!
alf, are you disadvantaged by being x collateralised?
1896?
cheers
brahms
If you don’t ask, the answer is no!!
you will need to determine the market price of the property and be prepared to pay it…if you make an offer and purchase it cheaper – well done.
cheers
brahms
If you don’t ask, the answer is no!!
