The agent is just lazy and did a quick sale to benefit themselves and not their owner! Yes the owners might be happy with the price but they were probably never told there were other buyers
Just keep a mental note if that agent gets another house you want ask them for a copy of the contract ( so you have the owners and solicitors details ) and confirm with them via email ( cc the solicitor) that you will be submitting an offer on the day they specified
This moron told me it was because it was a cash buyer with a good settlement that suited the seller. The whole cash buyer thing annoys me - what do they think the rest if us are paying them in? Peanuts? Gift vouchers!? Our settlement would have been 30 days, I'm pretty sure the sellers wouldn't have been paying $12,000 in interest over that month.
Vendors wanting a quick sale is fine but I highly doubt they would mind waiting what an extra 12 hours for $12,000! I think they mean cash as in they don't need finance so no bank loans , which really if your signing an unconditional contract you would have your finance sorted so not that big a bonus , it may save a week or 2 in settlement as there is no bank to wait on
actually I have found offering cash (so no subject to finance clause) is a big thing with properties ...
here in WA anyway. A Lot of offers fall over due to lack of finance so many agents/sellers will take a lower cash offer that is unconditional than a higher offer subject to finance.
When you are talking to the agents about putting in an offer, make sure they understand that any offer you put in will be 'cash' it goes a long way
I understand the risk of finance potentially not going through, but not at the expense of getting more money from the sale??? Not what I would do.
At the end of the day had the agent been honest and transparent from the start - at the open say sorry it was too late to take the open off the online ad, we have a cash offer with a short settlement in place already, sorry you took the time to come and view the property given it's already under contract.... Then I wouldn't have had a problem.
Does he really think that treating people like imbeciles and mucking them around will make them want to hire him to sell their property??? Uh hell no!
Which is why usually those kind of agents leave the industry after a few years, if you get a bad reputation you won't get repeat /referral business and you can't survive , all the locals will know what your like - unfortunately for the few years they are in business it gives all of us a bad name
I'm sorry it was frustrating for you for the record as a seller we opted for a cash buyer ( rather than waiting for extra 10k) when we sold. We knew we could wait and potentially get an extra 10k however the property was vacant and we were staging it. Rental of furniture was $1000 every 6 weeks, and loan repayments were 2k a month ( add rates/water/body corp lets just say 3k a month).
Our properties target market was first home owners and in our area they typically want a minimum 60 day settlement with a 21-28 day finance clause. In all honesty we looked at it and went bird in hand is worth two in the bush, potentially if we waited whilst the sale price would have been better we may only be a few k overall better off. Add the fact in our situation we wanted it sold in that financial year
Pregnant for the first-time?
Not sure where to start? We can help!
Our Insider Programs for pregnancy first-timers will lead you step-by-step through the 14 Pregnancy Must Dos!