Hi, am puzzling over a situation with a house I am considering buying and would like others thoughts.
have put a written offer on a house that is for sale by negotiation. Properties in this suburb go for an average 20% over rv. We have made an offer that is slightly above that average. Agent is new to the industry and is seeking offers at a price that would be 90% over rv. He says this is achievable as the property has subdivision potential (technically it does but there are neighbour consents and a whole host of council issues that would need resolving first...and not every buyer would want to subdivide)
agent is trying to get us to withdraw our offer saying it is too low. Vendors getting additional advice on the property value. Don’t know if any other offers received.
i haven’t come across subdivision potential being added to the purchase price before...we are talking a couple of hundred k on top of market predictions for the top sales price.
thoughts?
have put a written offer on a house that is for sale by negotiation. Properties in this suburb go for an average 20% over rv. We have made an offer that is slightly above that average. Agent is new to the industry and is seeking offers at a price that would be 90% over rv. He says this is achievable as the property has subdivision potential (technically it does but there are neighbour consents and a whole host of council issues that would need resolving first...and not every buyer would want to subdivide)
agent is trying to get us to withdraw our offer saying it is too low. Vendors getting additional advice on the property value. Don’t know if any other offers received.
i haven’t come across subdivision potential being added to the purchase price before...we are talking a couple of hundred k on top of market predictions for the top sales price.
thoughts?
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