About deadline sales
| # | Post |
|---|---|
| 1 | Do agents have to keep all offers confidential? Can they say something like "we already have an offer not yet presented, the property is now worth high 700K" or something like that, keep giving hints to the potential buyers until the last min of deadline?? secretgarden88 - 2021-02-26 18:50:00 |
| 2 | No. sparkychap - 2021-02-26 18:56:00 |
| 3 | They should not be sharing details of offers to other buyers, but I guess in theory the vendor can. We were recently told by an RA that an early offerer can be told that a later offerer has submitted a higher offer and give them the opportunity to review their offer. But one has to be careful, the earlier offerer may then withdraw their offer and move on to something else. tony9 - 2021-02-26 18:59:00 |
| 4 | tony9 wrote:
Even this is too dirty! The deadline sale thing if not done with 100% honesty, can be very dirty and ugly! Edited by secretgarden88 at 7:11 pm, Fri 26 Feb secretgarden88 - 2021-02-26 19:10:00 |
| 5 | secretgarden88 wrote:
Perfectly fine. johnston - 2021-02-26 19:22:00 |
| 6 | secretgarden88 wrote:
Good info here... https://www.settled.govt.nz/buying-a-home/making-an-offer/bu tony9 - 2021-02-26 19:27:00 |
| 7 | tony9 wrote:
The article mentions nothing about confidentiality. For those that have submitted the S & P agreement, they can't change their offer anymore. If you disclose their offers in order to attract a higher offer, this is really NOT OK???? secretgarden88 - 2021-02-26 19:32:00 |
| 8 | secretgarden88 wrote:
' For those that have submitted the S & P agreement, they can't change their offer anymore.' Is this correct? It was a while ago but for a property we were interested our first offer on a S & P was not acceptable to the vendor so it was sent back and we upped it a bit, signed it, initialled and re-presented it and the vendor signed at that price. Several times we have been told that the vendor is sitting on offers of $ xyz, with the implication that these are not acceptable and if we were to go higher we would probably get the property and several times we have dropped out. I think the REA told us all this. No personal details of the other interested parties were given though. The REA would have been asked to see if 'best offers' had been presented. shanreagh - 2021-02-26 19:48:00 |
| 9 | secretgarden88 wrote:
Of course they can. They can withdraw the offer, then submit another one. Or they can just submit another, but different, offer. Vendor will select which one to accept, or select some and ask the buyers to resubmit/change if they wish, perhaps stating the parts of the offers which are unacceptable. tony9 - 2021-02-26 20:21:00 |
| 10 | You could make your offer that you will pay an amount up to X dollars above the highest offer received to X amount. ginks - 2021-02-27 09:38:00 |
| 11 | ginks wrote: Escalation Clause - not advisable, lots of pitfalls. For a start you've just told the vendor how much you're willing to pay for the property. if I was them, I'd cross out your offer and counter at the maximum amount (assuming there weren't better offers). sparkychap - 2021-02-27 09:45:00 |
| 12 | ginks wrote:
Good luck with that harebrained idea. johnston - 2021-02-27 11:32:00 |
| 13 | johnston wrote: Have done it and it worked ,so there you go . ginks - 2021-02-27 15:52:00 |
| 14 | ginks wrote:
Yeah right. johnston - 2021-02-27 19:37:00 |
