Forum Replies Created
I always start negotiations from offering $0 – $500, but never pay more than $1,000.
My last IP I purchased with $1,000 deposit.
Last year I purchased IP with no deposit at all, but there was no RE agent involved.
Gamay
The property is vacant, so finding the seller becomes a bit complicated.
Regards
Gamay
I am determined to fight. Any advise on how to use RE agents tricks to trick RE agents? Particularly when agent is saying that he wants to buy the same house as I want, but he is in a better position because he also sells it.
Is it like insider trading? I wonder how can they get away with it?
Regards
Gamay
Can I request a proof that my offer was presented to the seller and what would be that proof?
Gamay
Thank you all.
Dazzling, are you saying that I should not make a verbal offer and always put it in writing?
Even with the written offer sometimes agents refuse to submit to the seller because “it is a silly offer”. Even if the agent takes your offer and later calls you to say that it has been rejected, how do you know it was actually presented to the seller?
Here is another question: what can I do if I find that after my offer was rejected the property was sold for $5K less, or in one occasion for $100 more (maybe to agent’s wife or friend??)?
Perhaps the best option is to become agent’s friend, but many of them I would never have as a friend.
Regards
Gamay
Hi Pickworth,
Thank you for your comments. I just spoke to my agent and he said that he has never submitted an offer for the property listed with another agency. His comment was that it cannot be done in SA. Is this right? or should I find another agent? Is it different in different states?
Perhaps I can just move on and find another deal, but it makes me angry and I don’t want to give up.
Regards
Gamay
Hi debtdogg,
I have a number of good agents, but how can I by-pass the bad one? Can another agent submit my offer for the property which is not on his list? I never tried it.
I might just talk to a couple of guys I know.
Regards
Gamay
In some areas there is a pressure on rents already. One of my IP’s (3 BR house), which was tenanted @160/w and was recently vacated. It is in a relatively good area: close to shops, schools and 500 m from the train. I advertised it for $175/w and was bombarded with phone calls (more than 20). Finally tenanted @180/w.
Gamay
Hi, Superman,
This is an interesting discussion. I agree that the rent rise will somehow be limited by wage raise in the short term. But thinking in the broader economic sense: oil price rises are not capped by the wage raise, but push the general inflation higher. I think the same will happen with rent. The same demand/supply stuff.
Gamay
Natalie,
I am not a finacial guru, but when I looked at the loan structure my common sense tells me that it is not going to work or there should be a hidden high risk attached.
Read the small print.
Gamay
It looks like previous similar iterest free loan schemes (scams?) have won ASIC’s “Pie in the Sky” Award.
In my opinion you learn more from this webside. There are some good books by Hans, but the cource is too much overpriced and is just the success story of investors who invested in CF+ pre-boom.
I am trying to get a refund. Total waste of money.
Gamay
Just wanted to share my experience.
In 2002 I made an offer for 3 bdr house on approx 700 m2 block in the location I believed would go up in value as it was close to CBD and in very convenient location close to major shopping and trasport. The house was tenanted @$160 pw. My offer of $140K was accepted. I have done a good research and was quite confident that it was a good deal. I shared my excitement with a close friend who happend to be a real estate agent.
My friend told me that I was stupid buying “at the peak of the real estate boom”: in 2001 similar houses in this area were selling around $100K (40% increase!!!).
And I was stupid enough to pull out of the contract (cooling off) believing that real estate agents know a bit more than average person about property cycles.
Guess what? Similar houses in this area are selling for $280 – 310K now and the rent has increased to $250 pw.
It is easy to work out my losses.
Do your homework and be confident in what you do.
Gamay
I am thinking of buyng a free standing house, 3 br in Whyalla Stuart. It is close to the shopping centre and Catholic school.There are mainly former SAHT semi’s on the street. I managed to negotiate $85K (from original asking $120K) and the agent says that finding the tenannt for $155/w is not a problem (unlike semi, which have high vacancy rate).
I am still reluctant to go ahead as my understanding is that Whyalla’s population is in decline.
Will appreciate further comments.
gamay
You can make it even more complicated, but as long as the final result is 1000x+y you will have the same answer. So, do you want 10 years old to rule this country?
