Mr501, thanks for clearing that up for me. Will probably still depreciate as the property will be negatively geared, thanks for pointing that out, just one more thing to take into consideration.

Scott No Mates wrote:
Simply fax in a retraction of the offer or drop it off to the agency today.

Will do that, am now going to ring and tell her I am retracting the offer, and email her. Thanks for the advice, will make sure I put a time/date in the offer next time.

Hi sonyasal,This wasn't a verbal offer I signed a form with the offer amount, but seem to remember a piece on the bottom of the form with the vendors name to be signed, I did not receive  this form back. No deposit paid. I think they are waiting to see if any more offers come in as they have another open on Sunday, but do not want to miss out on…[Read more]