Hi guys. We're eyeing of a place that only came on market 6 wks ago. We want to move onto this place as our new home if we get it and as soon as would work really well with other things.
Problem – it is rediculously over priced but it hasn't been on the market for long. Where as there is a place just up the road , very similar and around the same price. But it has been on the market two yrs and he has just dropped the price now .
l want to approach the owner o f the one we want directly with my offer but it hasn't been on the market long and my offer will be 2o% off what his asking , because his price is rediculous .
l'm thinking is it abit soon as it's not long on market , does he know about the one down the road , that his price is allot ambitious, prices are dropping around here because it's all presently well over priced and not much is moving ?
He will in another 6 mths but we can't wait 6 mths .Strategically speaking do you guys tend to worry about timing or waiting, or just dive in when it suits you?
Thanks guys .Hi MKC
It could be a bit soon but I would still put in an offer after some research.
have you talked to the agent about reasons for sale is it urgent moving to a new job building may like to rent it back for a while etc . Get as much info as you can. Then research the area well with the seling agent so that they know that you are a serious buyer. This also gives you more information to use in your offer.
Make sure that you present a written offer with your figure stating reasons for the offer such as the falling market and the value of x and y in the area. Remember you can always try it again in the future with the same amount or an adjusted figure.You might catch them at the right time and they will accept.
what have you got to lose go for it
rudolph
Hey Rudolph .
So you think it’s a good idea laying out price factors then, there’s allot of points showing it’s way too high.
lt is abit sooner than l’d like to but would suit us right now , l’d really prefer to let reality hit the owner first though to be honest. l don’t know if that really matters though.
l haven’t spoken to the real estate yet but apparently no ones shown any interest in it at all so l sort of felt let them keep thinking for now .
Have done some snooping. Been told it’s a divorce thing ,she’s shacked up with someone else and he bought it years ago for 40 grand , good old days eh .
Not sure if he owns something else but he was baching there and moved out not even shutting the damn front doors.
It’s a pretty unique to which we love but would actually also turn the average right off which is good.
Could wait until after July 1 , tax crap .
l wanna do a 12 mths rent thing with it see – more tax stuff so it’s a little bit hard going the realestate , more an owner negotiation thing .
Thanks for the feedback.
Cheers.rudolph wrote:Hi MKCIt could be a bit soon but I would still put in an offer after some research.
have you talked to the agent about reasons for sale is it urgent moving to a new job building may like to rent it back for a while etc . Get as much info as you can. Then research the area well with the seling agent so that they know that you are a serious buyer. This also gives you more information to use in your offer.
Make sure that you present a written offer with your figure stating reasons for the offer such as the falling market and the value of x and y in the area. Remember you can always try it again in the future with the same amount or an adjusted figure.You might catch them at the right time and they will accept.
what have you got to lose go for it
rudolph
Hi MKC,
I'm only speaking from my own experience. I've been eyeing this 3 storey commercial building in the quiet end of town for my own business. I know the owner is desperate to sell so he can put the money into his super before end of financial year. From what the agent told me no one had shown any interest (probably due to the location, it's not a busy area but due to the nature of my business location doesn't matter) so I decided to wait one more week before making the offer (vendor was reluctant to go below the asking price that's why I decided to wait). Guess what, someone just wandered into the agent's office off the street and bought it immediately without even inspecting the building on the day I was going to make the offer! I went home and cried for 2 days.
So if you really like it, talk to the vendor and don't wait too long before taking any action. You never know, someone can just walk in and buy it on the spot.Thanks black tulip.
Ooooo that must have hurt .
Murhpy’s law really worries me on this one too.
Made up my mind . Once a cheque comes in l’m expecting in two wks or so – l can wait no more.
Cheers.
PS. Yep l really think if your not enjoying insanity you should atleast be pleading it !blacktulip wrote:Hi MKC,I'm only speaking from my own experience. I've been eyeing this 3 storey commercial building in the quiet end of town for my own business. I know the owner is desperate to sell so he can put the money into his super before end of financial year. From what the agent told me no one had shown any interest (probably due to the location, it's not a busy area but due to the nature of my business location doesn't matter) so I decided to wait one more week before making the offer (vendor was reluctant to go below the asking price that's why I decided to wait). Guess what, someone just wandered into the agent's office off the street and bought it immediately without even inspecting the building on the day I was going to make the offer! I went home and cried for 2 days.
So if you really like it, talk to the vendor and don't wait too long before taking any action. You never know, someone can just walk in and buy it on the spot.
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