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  1. #1
    Join Date
    Oct 2016
    Posts
    185

    Default can you reduce your offer before signing after verbally saying something higher?

    I know legally you can, but practically will it backfire spectacularly?

    i know that they will still make money, even with all agent and lawyer fees etc

    but i am getting a sense that vendors are in a hurry after verbal negotiations via agent

    wanting to knock 20k off a 400k offer for a section after opening with 390 ...

    i have a feeling it's going to be a very bad look. perhaps going back to 390 might be best? or ... in a bit of a pickle/dilemma

    thanks for any advice

  2. #2
    Join Date
    Jan 2012
    Posts
    1,034

    Default

    Are you a politician? "I never made the election promises you have me saying on tape".

  3. #3

    Default

    Quote Originally Posted by Learning View Post
    Are you a politician? "I never made the election promises you have me saying on tape".
    I think you have answered the question yourself...

    I would do what you expect other to do to you...
    Last edited by learningInProgress; 19-08-2019 at 02:22 PM.

  4. #4
    Join Date
    Apr 2009
    Posts
    981

    Default

    Are you intending to profit in this transaction ? If so then offer what makes the numbers work for you.

  5. #5
    Join Date
    Sep 2008
    Posts
    7,575

    Default

    personally

    i hate bait'n'switch

    if i was feeling kindly that day

    would probably just turn around + walk away muttering "time-waster"

    but if not feeling kindly

    could look for ways to pretend to agree

    but not agree at all....

    maybe by signing your name instead of mine?


    or writing the date wrong???

    got to be a few ways to balance the situation
    Last edited by eri; 19-08-2019 at 05:46 PM.
    have you defeated them?
    your demons

  6. #6
    Join Date
    May 2008
    Posts
    3,581

    Default

    Quote Originally Posted by jack2016 View Post
    but i am getting a sense that vendors are in a hurry after verbal negotiations via agent
    You are thinking of exploiting this new piece of information.
    Some 'property educators' would applaud you.
    But it could backfire.
    What would you think if this sale featured on Fair Go?

  7. #7
    Join Date
    Oct 2016
    Posts
    185

    Default

    i don't want to over-pay in this climate. all the other sections sold for between 335-380k in 2017-2018. the last one sold at 380k at the end of last year. as far as i can see everything is about the same on every section, there is not one that is "outstanding" compared to the rest. i am not sure what fair go has got to do with this, there is no s&p.

    i have withdrawn my verbal offer for now to think about this.

  8. #8
    Join Date
    May 2008
    Posts
    3,581

    Default

    Having a pause to review the market is reasonable.
    If you decide the market is different to what you thought before then that could justify a new offer price.
    Good luck.

  9. #9

    Default

    you can put whatever number and conditions on the offer even if you've talked different numbers with the agent. Agents will always tell you to put your offer in writing so any discussion are theoretical.

    The risk is that the agent has talked your offer up to the vendor and they're expecting the offer at the level you've been talking where by they may be disappointed and reject your offer. In my experience if you're the only offer on the table the agent ONLY gets paid when both parties have signed the contract so he will try to talk your offer up while at the same time trying to convince the vendor to accept your offer.


 

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