Make sure the agency agreement is cancelled in writing!
Check the agreement to make sure that the agent has no recourse at a later date for claiming full commissions for not selling the property. If he is a fool he is likley to act like one!
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http://www.renttoownau.com/ http://www.vendorfinanceau.com/Hi BDM,
A thought strikes me.
Whenever I am negotiating something I make sure that the knowledge side of the equation is on my side not my opponents.By this I mean that I know the subject very well, I have assistance from my accountant and or my solicitor and or anyone else I can think of.
In other words if it appears like the other party knows more than I than its time to back off regroup and reassess the situation before continuing once again.It is better to walk away from a good deal than it is to curse forever at its mere mention.
On a lighter note, this builder who regularly builds 4 and sells 3.
Have you had a discussion with him about vendor finance?
The reason I mention this is because he is an investor himself, keeping 1 in 4.
If he keeps 1 sells 3 with 1 of those interest only to you he has an additional income stream opportunity.Another point perhaps you can ask this builder if he will consider selling you other properties and perhaps with multiple purchases you can negotiate a discount greater than 4%.
Plus if you are aware of exactly when these other properties will be coming onto the market perhaps you can purchase of the plan and negotiate another discount in future.
After all you are presently happy with the builders quality standard.Another idea, again if you know when he will have other properties ready to hit the market perhaps you can flip them for him and pocket a quick buck for yourself.
The easiest way to make good consistent profit returns is to network with those around you.
Always surround yourself with people moving in the same direction; along the way they can give you a lift.
Your friend Colin.
Most great people have attained their greatest success
just one step beyond their greatest failure. — Napoleon Hill —Email [email protected].
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For all your CLEANING and GARDENING work.Hi Dr X and Grossrealisation,
Thanks for your responses and suggestions.
I am not sure that I understand the full big picture in what you are both suggesting – make sure that agency agreements have lasped, or are cancelled in writing, and that there is no mention of the buyer (ie me) paying any agents commissions in the sales contract.
Once satisfied that the sales contract has no clause suggesting any payment of commission is the responsibility of the buyer, wouldn’t the idea of commissions, cancelling agreements between vendor and agent, getting it all in writing, etc be the responsibility of the vendor ?
Other than a mention in the sales contract – which I will make sure is NOT present (great idea …Thanks !!) – I don’t understand how it could potentially be my problem, as you seem to allude it could be….
Curiously,
BDM
P.S. Both the property and I are in Melbourne.
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