All Topics / General Property / Making multiple offers for houses at the same time!

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  • Profile photo of Newcastle KnightNewcastle Knight
    Member
    @newcastle-knight
    Join Date: 2012
    Post Count: 27
    January 12, 2013 - 11:24 am

    Hi everyone,

       I was wondering if you were allowed to make multiple offers on properties at the same time even though you only want to buy 1. What clauses need to be in offers?

       Thank you

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    January 12, 2013 - 7:58 pm

    Yes there is no trouble in making multiple offers as don't forget the seller has to accept them.

    Depending on which State the property is going to be in you should consider getting a Solicitor to draw up your Special Conditions.

    If you are making multiple offers then i would ensure that each offer has a limited time frame and requires acceptance by the seller before a given date / time.

    Make sure your finance and finance structures are in place before you do.

    Cheers

    Yours in Finance 

    Richard Taylor | Australia's leading private lender

    Profile photo of callmelescallmeles
    Participant
    @callmeles
    Join Date: 2007
    Post Count: 29
    January 12, 2013 - 8:35 pm

    I have made multiple offers, and then wait to see how many (if any get an acceptance).

    Remember nothing is legally binding until you sign the contract.

    So stall if you have to, until you get a response to all of the offers that you have out there.

    You might get a couple of R E agents offside, big deal they're not the ones that have to service a 30 year loan.

    AND remember, they just want to sell, so it's not as though they will black list you in future.

    And if they fail to take a legitimate offer to their client – you can report them to the respective R E I of the State.

    Remember we're in the game to win on ourselves and our family.

    The sweetener has always been that if I eventually secure a purchase via the agent I give them a verbal agreement that

    they get to re-sell the renovated or sub-divided property in the future.

    Usually works a gem.

    Regards

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    January 13, 2013 - 12:02 am

    Yep it happens.

    The size of the market that you're looking to purchase in can come into play here as well.

    If you're looking to purchase in a smallish town with only a handful of agents then you wouldn't want to burn your bridges by coming across as tyre kicker.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of Newcastle KnightNewcastle Knight
    Member
    @newcastle-knight
    Join Date: 2012
    Post Count: 27
    January 13, 2013 - 6:22 am

    Thanks guys 

        There are some good tips there like having a definite time frame and giving the RE agent the verbal agreement of the next sale of the property. Also I agree callmeles we are definately in it for ourselves and who really gives a hoot what others think..Amen to that…lol

        Cheers Troy

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