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  1. #1
    Join Date
    Dec 2006
    Posts
    1,656

    Default Taking pooomba's advice....

    I recently made an offer (against my better judgment) that would see a return of 8% (just over).

    Feeling more than a little cheeky doing so (it was a private sale), the offer made via email (I know I know, don't bother saying a word) was exceptionally friendly and cheerful in tone and manner.

    What happened, I hear you ask?

    Seems the vendor is well unhappy with me.

    Doesn't like that idea one bit. Surprised? Nope.

  2. #2
    Join Date
    Jun 2004
    Posts
    253

    Default

    Suggestion: offer to have long settlement say 3 years and give them $1000 deposit this will make them happier, or buy and lease option it back to them that way they get to stay in the house, and you have positive cashflow and they can buy the house back at a later point for only 15% more than they sold it to you. Its win-win.
    Offer to help them shift any furniture etc they need to sell to pay for the lease option, a friendly helping hand is always appreciated, they may discount the selling price because of it as they see you as number one top guy.
    Last edited by orbital; 06-08-2008 at 02:36 PM.

  3. #3
    Join Date
    Dec 2006
    Posts
    1,656

    Default

    hahahahahaha - you mean win~win

  4. #4
    Join Date
    May 2008
    Location
    Manukau Auckland
    Posts
    1,049

    Default

    Quote Originally Posted by k1w1 View Post
    I recently made an offer (against my better judgment) that would see a return of 8% (just over).

    Feeling more than a little cheeky doing so (it was a private sale), the offer made via email (I know I know, don't bother saying a word) was exceptionally friendly and cheerful in tone and manner.

    What happened, I hear you ask?

    Seems the vendor is well unhappy with me.

    Doesn't like that idea one bit. Surprised? Nope.
    K1w1

    I think the rule of thumb with this "low-ball offer" strategy is pitch about 100 offers and expect to get accepted on maybe one or two of them.

    So only 99 more offers to make . Go gettem tiger.

  5. #5
    Join Date
    Dec 2006
    Posts
    1,656

    Default

    Holy crap, Batman. No wonder you lot have such a bad reputation. You make enemies all over the country/city/suburb!!

    Like your local Amway salesperson, perhaps I should concentrate on friends and family first.

  6. #6
    Join Date
    Jun 2005
    Location
    auckland New Zealand
    Posts
    5,236

    Default

    Well K1W1, you didn't take my advice other than making the price where you needed it.
    1. Never ever email an offer. The only thing that qualifies as an offer is a written one delivered in person or via an agent.
    2. You need to make 5 of these a week until you get a successful purchase
    3. How did you fill out the S&P to assist in getting the offer accepted?
    4. How did you advise the agent to talk to the vendors, or what did you say to the vendors directly if private sale, to help get your offer countersigned??
    5. Reiterate, emailing low offers waste of time, face to face negotiation with private vendors is best.

  7. #7
    Join Date
    Dec 2006
    Posts
    1,656

    Default

    1. And I quote: "offer made via email (I know I know, don't bother saying a word)"

    "Don't bother saying a word" was key to that sentence.

    2. As covered by Shane.
    3. See 1.
    4. Ditto.

    It was a friendly exploratory email that suggested an approx price offer that could be made. Once again, I know this isn't your full advice. I'm taking the piss.

  8. #8
    Join Date
    Dec 2006
    Posts
    1,656

    Default

    Oh, and judging by the reaction I got, face-to-face would have seen me leave with a black eye or at a minimum, frog-marched out the door. I kid you not.

  9. #9
    Join Date
    Jan 2008
    Location
    North Shore, Auckland
    Posts
    1,079

    Default Godspeed K1w1!

    Quote Originally Posted by k1w1 View Post
    Holy crap, Batman. No wonder you lot have such a bad reputation. You make enemies all over the country/city/suburb!!
    What's that 8% yield stuff? What are you, Red bloody Cross meets Mother Theresa?

    I reckon facing the vendors with a written quote, plenty of verbal contempt, a long sword and some kevlar on is the way to go, as Poomba indicated.

    Also the private sales away from your place of residence are a real good idea, if you do pee someone off, at least there's not much collateral damage (you never know when you might need an agent again!).

    Keep us posted boss.
    Last edited by essence; 06-08-2008 at 03:24 PM. Reason: Formatting error

  10. #10
    Join Date
    Jun 2005
    Location
    auckland New Zealand
    Posts
    5,236

    Default

    Seriously K, you'll be amazed at how people can change face to face. I've seen it happen over and over again. Someone takes shine to you, price become secondary. (NOTE: This is not some 100% proof magic formula)


 

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