A friend of mine asked me for my opinion on his situation so any more info. will be of help.
He is Asian, faily new to Aust. he feels agent assumes he has no idea of that to or how to buy or his rights as a buyer. This is true to a degree, but he does not what to get ripper off or unfairly treated (non of us would).He as make 2 vebal offers on a house in the West of Melb. asking price 220 his offer 175 then 180 and now 185k. The agent says he will phone the vendor????? then gets back to him with a no. He feels the agent is not contacting the vendor at all. I told him if he likes the place to make a formal offer in writting (contract note) but get sect. 32 first.
He took my advise, agent said he had the sect 32 and contract note and to come in to the office. He asked him what was his offer it was 185k he then was told again I will ring vendor and get back to you again same, no go. He was not give the 32 or allowed to make formal written offer.
My qustion is:
Does the agent have to give him the sect 32? (even if his is only intrested and may make or may not make an offer later)
I understand its not a document you want eveybody in town having a copy of, but, does the agent have to give it out on request? ( may be a legal question)Can agent refuse to let a purchaser give a written formal offer? (i.e. The vendor will not except offers under 200k)
I thourght all offers had to be given to the vendor by law, is this correct?If the agent will not give him the 32 yet he still wants to make an offer if he gets a standard contract note and makes his offer and gives it to the agent in person is it legal or binding as he has not seen a sect 32 yet?
I personal have had this proplem before when a property was held back from other offers. All of a sudden sect 32s are not available or I will email one to you etc. In the mean time the property is sold to some one elles.
Any agent out there got any opinions or advise also what legal recourse has he got can he report the agent to some body. Has the agent broken the law? I feel agents should give a fair go to all potetial buyers regardless of race as their money is the same.
Cheers
T……………….
Just bypass the agent and contact the Vendor directly.
The agent will get pissed off, but who cares? He's not acting in the best interest of the Vendor.
He might think he is by not passing on your low offer, but if no-one else is making offers, then yours is the best one they have got.
In my State of Victoria, by Law the agent must pass on every offer to the Vendor .
Make sure you have got a copy of the Section 32 before you sign any contracts.
There is an exception to the law that the agent must pass on every offer to the Vendor. If the vendor specifically states that they do not want to know about any offers under $xxx, then the agent is not required to pass any offers under $xxx to the agent.
Cheers
K
That's exactly right Linar, and in many cases buyer is kept in the dark about what's really going on, I mean has a vendor really set that threshold for offers or it's agent's games, trying to get a higher offer from the buyer. I called REIV some time ago (they have a help line) and they confirmed what you and L.A Aussie are saying, that the agent must pass every offer on to the vendor unless he was instructed by the vendor not to. It didn't help me one bit to understand what was going on in my situation. I too felt that the agent is playing me and not passing my offers to the vendor but had no way to confirm that, because I didn't have vendor's details and couldn't speak to him myself.
Thank you both for your input. K I beleive you are correct but how does the purchaser know what the " not taking offers under figer is" the true one that is. Yes buy passing them does piss them off, strange breed real estate agents. May I ask why you said
Make sure you have got a copy of the Section 32 before you sign any contracts. I would think any offer made with out the purchaser seeing and signing a copy of the sect. 32 would be void and not binding.
I will pass on the info to my friend, who I may say is learning fast.Thanks for your replys
Regards
T……………
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