I need to know....

Anything!

Re: I need to know....

Postby Booney » Mon Jun 15, 2020 12:51 pm

Pseudo wrote:If (when?) they do come back in a month's time, ready to accept your offer ... then lower it. Clearly they couldn't do any better, therefore the market says the house is worth less than your offer. Adjust your offer accordingly.


Absolutely, go with -3k from the offer, see what they say.
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Re: I need to know....

Postby Booney » Mon Jun 15, 2020 12:52 pm

whufc wrote:
Booney wrote:The whole used car / house market "game" is bullshit. Every one is smoke and mirrors and nobody ever just gives a number that works. I know I do, here's a number, take it or leave it. When you're buying that's your top number, when you're selling, that's your bottom number. I hate all that dancing around bollocks.


Yeah absolutely.

I would love if that’s how it worked....we would have saved a lot of our time and everyone else’s if we knew $415k was the only price point.


It's not the only price point, it's their price point but something is only worth as much as someone is prepared to pay and if nobody is $415k in then the place isn't worth $415k.
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Re: I need to know....

Postby FlyingHigh » Mon Jun 15, 2020 1:29 pm

Lightning McQueen wrote:
whufc wrote:
I get why they may need $415k but im not sure why they advertise $395k as a possible price point.

Yeah time is on our side. We know they had 3 couples look at the house on the weekend so its no secret they are hoping one of them come through with the goods. I feel like you would have to fall seriously in love with the place to go up to that price given the current state of play.

I've never got the bracket thing either, it's like what are they chucking in extra to go the upper echelon?


Wasn't it introduced to stop agents under-quoting and over quoting?
IIRC there are legalities associated with it.
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Re: I need to know....

Postby MW » Mon Jun 15, 2020 1:56 pm

My current house..

Offered 440k. rejected.
Offered 460k. rejected.

8 weeks later...

we'll take your 460k thanks.
Me: Actually I'll pay 440k.
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Re: I need to know....

Postby whufc » Mon Jun 15, 2020 2:37 pm

MW wrote:My current house..

Offered 440k. rejected.
Offered 460k. rejected.

8 weeks later...

we'll take your 460k thanks.
Me: Actually I'll pay 440k.


Love it!!!
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Re: I need to know....

Postby JK » Mon Jun 15, 2020 2:51 pm

FlyingHigh wrote:
Lightning McQueen wrote:
whufc wrote:
I get why they may need $415k but im not sure why they advertise $395k as a possible price point.

Yeah time is on our side. We know they had 3 couples look at the house on the weekend so its no secret they are hoping one of them come through with the goods. I feel like you would have to fall seriously in love with the place to go up to that price given the current state of play.

I've never got the bracket thing either, it's like what are they chucking in extra to go the upper echelon?


Wasn't it introduced to stop agents under-quoting and over quoting?
IIRC there are legalities associated with it.


I always took it as just something to try and create a bigger base of interested parties, and more bidders if a place goes to auction. Can be a time killer for prospective buyers, but the industry wouldn’t give a rats about that.
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Re: I need to know....

Postby whufc » Mon Jun 15, 2020 3:21 pm

JK wrote:
FlyingHigh wrote:
Lightning McQueen wrote:
whufc wrote:
I get why they may need $415k but im not sure why they advertise $395k as a possible price point.

Yeah time is on our side. We know they had 3 couples look at the house on the weekend so its no secret they are hoping one of them come through with the goods. I feel like you would have to fall seriously in love with the place to go up to that price given the current state of play.

I've never got the bracket thing either, it's like what are they chucking in extra to go the upper echelon?


Wasn't it introduced to stop agents under-quoting and over quoting?
IIRC there are legalities associated with it.


I always took it as just something to try and create a bigger base of interested parties, and more bidders if a place goes to auction. Can be a time killer for prospective buyers, but the industry wouldn’t give a rats about that.


Yeah that is my impression.

Had they advertised $415k as the lowest price we wouldnt have even looked at the place.

I'm not going to lie it was somewhat tempting to try and see if we could go from $400k to $415 to get the place but deep down we know its a bad decision to do that and wont be. It definitely has increased their buying market though by doing it.
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Re: I need to know....

Postby Dutchy » Tue Jun 16, 2020 12:10 pm

My son passed his P's test this morning, happy for him but also cant help but worry that he will be out on the road, for those that have been thru it I'm guessing the anxiousness eases?
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Re: I need to know....

Postby JK » Tue Jun 16, 2020 12:30 pm

Dutchy wrote:My son passed his P's test this morning, happy for him but also cant help but worry that he will be out on the road, for those that have been thru it I'm guessing the anxiousness eases?


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Re: I need to know....

Postby Lightning McQueen » Tue Jun 16, 2020 12:35 pm

Dutchy wrote:My son passed his P's test this morning, happy for him but also cant help but worry that he will be out on the road, for those that have been thru it I'm guessing the anxiousness eases?

I'm forever scared shitless as my daughter got hers a few months back.

I advise her on what roads/intersections are the tricky ones, she is an extremely observant driver but there's always a concern.

The ole "text me when you get there" comes into play every time.
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Re: I need to know....

Postby Booney » Tue Jun 16, 2020 12:43 pm

Dutchy wrote:My son passed his P's test this morning, happy for him but also cant help but worry that he will be out on the road, for those that have been thru it I'm guessing the anxiousness eases?


Two things at play. You've got to trust the process that you've been through and trust them, which I'm sure you do.

If you adhered ( as well as most of us do ) to the learning aspect, racking up day time and night time hours, teaching them your bad habits ;) and getting some lessons while not short cutting the driving time I'm sure some parents do ( if any hours at all ) then you've given them the grounding they need. If you racked up 55-60 of the 70 hours that's some time you've put in.

Now it's down to them and you know what makes them tick. In the early days with curfews and passenger limit's it's unlikely they'll have 3 or 4 kids in the car egging them on, well, they can't, so they ( he ) will be making careful consideration as to who gets in the car with him. If you know his close mates, if you know how they operate you should be more at ease.

It is stressful but you've got to trust the process that is far more intensive than anything I ever went through and I think both Junior and Miss are better drivers at that age than I was because of it.
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Re: I need to know....

Postby whufc » Tue Jun 16, 2020 1:07 pm

If your bored of my house purchasing story just say and ill stop posting.

Only 24 hours after our $396 final offer was knocked back i got the phone call today from the agent saying the owners are now happy to accept $410. She added i shouldn't say this but if you can get a four in front of the offer even $400k i can get it for you today.

My response....'really appreciate the work your doing to help us with this house but im sorry the final offer is $396k'

The tables have turned, we now have her working for us fearing she isnt going to get a sale on this house.

Didn't expect the turnaround so quick.
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Re: I need to know....

Postby Booney » Tue Jun 16, 2020 1:14 pm

Nup, we're along for the ride mate.

Now you need to weigh up how much you want the house, do you go to $400k and be done with it?

Me, I think I would.
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Re: I need to know....

Postby Spargo » Tue Jun 16, 2020 1:16 pm

whufc wrote:If your bored of my house purchasing story just say and ill stop posting.

Only 24 hours after our $396 final offer was knocked back i got the phone call today from the agent saying the owners are now happy to accept $410. She added i shouldn't say this but if you can get a four in front of the offer even $400k i can get it for you today.

My response....'really appreciate the work your doing to help us with this house but im sorry the final offer is $396k'

The tables have turned, we now have her working for us fearing she isnt going to get a sale on this house.

Didn't expect the turnaround so quick.

If their now willing to take $400k, play the waiting game. It’s only another $4k, they obviously haven’t had a better offer & are possibly panicking.
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Re: I need to know....

Postby mighty_tiger_79 » Tue Jun 16, 2020 1:18 pm

Keep posting.

Sit tight.

If they've dropped after 24hrs I suspect they will keep dropping it....

It appears they need you now...
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Re: I need to know....

Postby MW » Tue Jun 16, 2020 1:20 pm

whufc wrote:If your bored of my house purchasing story just say and ill stop posting.

Only 24 hours after our $396 final offer was knocked back i got the phone call today from the agent saying the owners are now happy to accept $410. She added i shouldn't say this but if you can get a four in front of the offer even $400k i can get it for you today.

My response....'really appreciate the work your doing to help us with this house but im sorry the final offer is $396k'

The tables have turned, we now have her working for us fearing she isnt going to get a sale on this house.

Didn't expect the turnaround so quick.


Bingo.
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Re: I need to know....

Postby Jase » Tue Jun 16, 2020 1:33 pm

We currently own part of a house, the bank owns the rest that has been valued at approx $600K, we have a mortgage on it of approx $320K...

Mrs Jase and I are in the very early stages of looking at moving and we are thinking of buying a new place and keeping our current joint as a rental/investment style scenario.

For those in the know.. would it be better to...

1. Keep our current place as a rental and let the tenants pay off that mortgage? We would thus need to take a new mortgage out to get a new place.
2. Get our place ready and sell to get a new joint.

We are not very savvy when it comes to the property market with regards to rentals and investment properties...

Any help/advice would be greatly appreciated
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Re: I need to know....

Postby Booney » Tue Jun 16, 2020 1:48 pm

You live in the house worth less ( occupier ) and rent out the house that's worth more ( rental ) and the tax man should be told exactly that. ;)
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Re: I need to know....

Postby Dutchy » Tue Jun 16, 2020 1:57 pm

Booney wrote:
Dutchy wrote:My son passed his P's test this morning, happy for him but also cant help but worry that he will be out on the road, for those that have been thru it I'm guessing the anxiousness eases?


Two things at play. You've got to trust the process that you've been through and trust them, which I'm sure you do.

If you adhered ( as well as most of us do ) to the learning aspect, racking up day time and night time hours, teaching them your bad habits ;) and getting some lessons while not short cutting the driving time I'm sure some parents do ( if any hours at all ) then you've given them the grounding they need. If you racked up 55-60 of the 70 hours that's some time you've put in.

Now it's down to them and you know what makes them tick. In the early days with curfews and passenger limit's it's unlikely they'll have 3 or 4 kids in the car egging them on, well, they can't, so they ( he ) will be making careful consideration as to who gets in the car with him. If you know his close mates, if you know how they operate you should be more at ease.

It is stressful but you've got to trust the process that is far more intensive than anything I ever went through and I think both Junior and Miss are better drivers at that age than I was because of it.


Yeah he has done the work, he has logged nearly 90 hours due to COVID pushing back his P's test by 6 weeks. Im pretty confident he is a good driver, he has done another 10 hours of lessons and he got 100% in his test today, with a government official in the back seat (apparently they only turn up every now and then) so you are right I need to have faith. Im not going to let him do any country driving for a while, despite us only living 10 mins from some country roads, that scares me the most.

I was only thinking this morning, I reckon I was only on my L's for 6 weeks so he is certainly better educated than I was.

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Re: I need to know....

Postby Dutchy » Tue Jun 16, 2020 2:06 pm

whufc wrote:If your bored of my house purchasing story just say and ill stop posting.

Only 24 hours after our $396 final offer was knocked back i got the phone call today from the agent saying the owners are now happy to accept $410. She added i shouldn't say this but if you can get a four in front of the offer even $400k i can get it for you today.

My response....'really appreciate the work your doing to help us with this house but im sorry the final offer is $396k'

The tables have turned, we now have her working for us fearing she isnt going to get a sale on this house.

Didn't expect the turnaround so quick.


Perfect, proves they (or the agent) were bluffing, well played. I reckon you might have a deal by the end of the week
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