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rockola57

Submitting your Offer on a House now1

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Hiya,

 

We are now about to buy a House,and are aware that it is a bit of a buyers market right now,as nowt much is shifting quick.Anyow,we have seen two we want.Our dilemma is should we put offers in on both of them,what percentage of the purchase price would be prudent(What percentage would you deem appropriate?)And is it not a bit cheeky to put offers in on both at the same time,given that if they both accept without much haggling,then are we able to back out of the other one without penalty?We really would be happy in either house.Gis some advice please!No one has put in offers on either house,But,of course the Agents are pushy,and implying we need to be quick as there is iminent interest and a sale is on any day now!We are aware the Agents can be economical with the truth.Cheers.:confused::biggrin:

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Guest Guest16631

................it can be a bit of a mine field ...........................eldest son has just gone through this..............http://www.fairtrading.qld.gov.au/make-offer.htm..........this site is helpful for the legal side....................just make sure your realestate agent gets everything that is staying with the house writtendown!................the sellers of his house took things they "said" were staying...........good luck.........as for price................just find out from realestate what other houses in the area have gone for............son got his for 8 000 less than asking price..............but they took what wasn't tied down....................no reason why you cannot offer on two ......................just don.t sign contract on both and make sure contract is subject to building and pest finance and other searches advised by your solicitor.....................

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Be careful as the process of buying a house in Oz is different to the uk. Once you're written offer is accepted, you can be bound unless you specify otherwise. I would have a look around to find out what the laws state just to make sure you don't make any mistakes.

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no way would I buy at the moment as the prices have only started droping wait & bargains are to be had, buy now & regret it later.

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Guest The Ropey HOFF

Houses in the uk are getting crazy offers on them, 20 to 25,000 pounds less is normal now and i would be really cheeky and offer up to 50,000 dollars less, it will depend on how desperate they are to sell, they also know the prices are coming down and if the house has been on the market quite awhile you never know. My friend has just bought an house for 80,000 pounds here in the uk and it was originally on the market for 105,000.

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no way would I buy at the moment as the prices have only started droping wait & bargains are to be had, buy now & regret it later.

 

You'd wait for tick to tock if yer thought you'd make a few quid on it Kirky!:biggrin:all this waiting does yer no good mucker,LIVE ffs!:laugh::wink:

Only joshing btw Kirk:wubclub:,wouldnt do if we were all the same would it,but for me anyway,i cba waiting,just want to get there and find out once and for all:wideeyed:


"The problem with neo conservative capitalism and it's insatiable greed for more wealth and disparity amongst the populace,is that it ended up being the catalyst for the great depression and modern recession"

 

Me,tonight:wubclub:

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Houses in the uk are getting crazy offers on them, 20 to 25,000 pounds less is normal now and i would be really cheeky and offer up to 50,000 dollars less, it will depend on how desperate they are to sell, they also know the prices are coming down and if the house has been on the market quite awhile you never know. My friend has just bought an house for 80,000 pounds here in the uk and it was originally on the market for 105,000.

 

We found that in Oz, they are not used to offers being so low....they considered anything les than a couple of K's less than asking price outrageous....not like here. (obviously all places are different but if you look at the supermarkets and they mark things down it is only by a couple of cents) different mind set to us I guess...we don't see it as a bargain unless we are robbing someone!

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Difficult one, often you see houses at auction and they are passed in on the reserve because the people want a lot more than the reserve. Agents are not supposed to underquote in Vic but it happens all the time. Auction prices are usually well above the prices stated. A lot take the attitude of waiting till the house is passed in and then negotiating.

 

If a house is under a certain price then you have three business days to cool off, read the small print on the contract note to make sure that you are aware of your obligations. Contracts are binding in Aus and if the contract is unconditional and you want to pull out the deposit is forfeited as payment for the vendors loss and damages.

 

Chattels sold with the property are anything that is not fixed to the property, i e a dishwasher, tv arial, hills hoist if its one of those you can remove, shed without a floor, plants that have been planted in the ground in a pot and covered with soil. Some people take the light bulbs, bit mean, some take the barbecue burners, "fixed fixtures and fittings" does not suffice if there is something you really want with the property.

 

Make sure you check that all the appliances are working and prudent to have that condition put in and "working at settlement" put in.

 

A property passes to the purchaser as it is at the contract day fair wear and tear excepted. So if you see anything wrong with the property before you sign make sure that a clause is put in to fix it. Make sure all pool heaters etc work.

 

The only recourse after is to settle pay your money and then take up in the courts.

 

Consumer affairs in each State will have downloads for you to find out all about buying and selling property in Australia.

 

Another thing a Conveyancer can do your conveyancing but they cannot give you legal advice, only solicitors can do that. So if there is a dispute at some stage then you will be required to pay the conveyancer for work done and take your file to a solicitor. Whether using a solicitor to conveyancer get a quote for the work first.


Petals

:ssign15:taking no prisoners :wink:

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It depends on what end of the market you're buying in; I've just got a place $40,000 cheaper than asking (about 6%) last week as the $600,000+ are not shifting, but the lower end is always going to be strong.

 

in QLD, while you can put in offers for as many as you want, and you get a 5 day cooling off period where you can withdraw for no reason after acceptance, you can also be charged a 0.25% fee by the owners, simply as it's off the market in that time and they potentially miss out on other buyers.

 

Put an offer in on the one you really want out of the two and go with that.

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Guest siamsusie
Be careful as the process of buying a house in Oz is different to the uk. Once you're written offer is accepted, you can be bound unless you specify otherwise. I would have a look around to find out what the laws state just to make sure you don't make any mistakes.

 

Buying/Selling of houses in Australia is very much state specific.

 

Susie x

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