Hi All (Thanks and appreciate if you somehow read through the long story below),
Gooday. I have been actively searching for houses in Tassie for past 3 months now and recently put down an offer for an old place (Built 1961). The property (as told to me by REA) has been sold by a bank (who have outsourced this to a third party mortgage agency based in Mel) as the previous owner (I presume) has gone bankrupt. It has been a rental for over 9 years and needs lot of work (for instance bathrooms, kitchen, garage to name a few) which is rightly reflected in the asking price and the offer I have put in.Its been on market for over 4 months and even had an auction run for it (which didnt go that well here in Tassie). Now here is the lifecycle of things that happened:
1) Day 1 -> I go and see the property, like it so much and put in an offer on the spot (I sign the contract, general 6 page document with building inspection and finance clauses). REA is happy (rather surprised and does mention me that there are no current offers on property).
2) Day 1 (evening): Missus unhappy as I put in a contract without showing the property to her, so I call REA and tell him to withhold the offer for now until I show the property to missus.
3) Day 2: Take missus with me and show her the property, she agrees and the offer is back on table again (Missus tells me that I offered too much and that I should offer a little less than earlier price). I go and inform REA about this and he doesnt let me decrease anything on it (TELLING ME THAT the bank know I have money and would not agree to reducing any further). No fuss, as it wasnt a great decrease and we are happy to pay that amount. The offer is still open.
4) Day 3: The REA calls me to say that bank solicitors now want me to sign a new contract document so he comes to my office and makes me sign a 26 page document as opposed to a 6 page document that I signed earlier (Reason he mentions: the Bank wants to save their A$$ +++). I have a read through (not much I can understand anyways) and sign the contract with the same 2 clauses (finance+building inspection) to save my A$$.
5) Day 4: The REA calls me and tells me that a buyer agent (on behalf of someone in sydney) has put in an offer and that it is his duty to inform me that another offer has come in (He wanted me to increase the offer and I outrightly refuse to pay a cent more).
6) Day 5,6,7 and counting: No reply from REA
Now:
1) In hindsight, he didnt make me sign a buyers declaration. Doesnt seem right to me ?????
2) On the call on day 4, he did mention that my offer was better amongst the two and even told me that the other offer was equal to mine (mine deposit being more). He shouldnt have told me that ??????
3) Is not showing any interest in replying back to me or assuring me of a quick reply for past 3 days (I think he wants me to get anxious and possibly increase my offer)
What to do:
1) Wait for another 2 days and withdraw the offer (As I didnt put an exit date on my offer)
2) Wait forever and let him come back ??????
Interested to see what you guys say?
Regards
Play on your terms, not theirs. If you fall into their games, you will become emotionally attached and not be able to get out easily.
If you and the vendor have signed the contract already, then the deal is done. The RE shouldn't be even talking to other buyers.