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I've seen one of those mercs in person, never seen a porn white 430 on black rims though ;) haha

but you've seen more than 1 f430 kthx

turns out my speedometer only dies when i put the headlights on... and another piece of the puzzle falls into your mum

No, auctions are unconditional (ie you can't say "subject to...finance/building inspection etc."), you bid you buy (or come to some arrangement to cover costs and time wasted)

yeh auction is unconditional not even cooling off period applies. pre approval doesnt mean jack for whats its worth i can put you in touch with people who can basically tell you on the phone if its ok or not for you to buy at a set price provided you give them the accurate answers to the questions they will have.

ive sold properties to ppl with pre approvals that then got declined its a bit of paper you may as well wipe your ass with.

ah bummer thought so. Going through Mortgage Choice. The amount of documents I need to provide for a pre-application is crazy. Alot of finance companies dont like apartments under 50sq meter also zzz

Speaking of real estate agents. Got a call from one today saying that someone has put in an offer before the auction date and he wanted me to put my best price forward.

wtf is this BS, wait till the auction you impatient kents. Real estate agent trying to do a silent auction over the phone hoping for me to give a much higher price than the one he has received. Didnt even want to tell me what the current offer was. :domokun:

lol he can't tell you the other offer. I'd be trying to get it before auction too, sif give other people the chance to bid.

im only complaining because someone else put in the offer first haha

I was told the offer was way above the expected auction range, so the buyer must be keen on it.

The problem with putting in offers on auction properties as well, is that within a certain period of the auction (30days I think) you're still under auction conditions, so no conditional offers.

Heh I was looking at properties listed up to 270.. most went for over 300

The problem with putting in offers on auction properties as well, is that within a certain period of the auction (30days I think) you're still under auction conditions, so no conditional offers.

Heh I was looking at properties listed up to 270.. most went for over 300

oo thats handy to know. Thanks for that!

I hope the auction on Sunday goes well above my limit as id hate to lose it cause i didnt have a loan organised haha

im only complaining because someone else put in the offer first haha

I was told the offer was way above the expected auction range, so the buyer must be keen on it.

Or the agent is just talking out his ass.

haha reading phone email from most recent backwards..

mohsen: I like to drive with my penis hanging out the window

Hektik: I've seen 2 including the black one close to me

lol wtf is going on in here... To keep reading or just stop right there..!?

Rekin: auction.. least recommended method of buying your first place

Apartment maybe not so bad/risky as a detached house but generally you need to do everything before the auction like pest/building inspections (which are not exactly cheap when u may end up with nothing anyway) and go over the contract with a conveyancer/lawyer *beforehand*. You need to know how much the place is worth and how much you are willing to buy it for and do not go over that amount. If you pay too much (auction or private sale) you will always regret it. You should do your homework, go to a number of auctions for similiar places so you know how much they are going for. Have someone go with you that is well experienced with these things. There is no cooling off period and you generally need to pay the deposit on the day (or within a couple of days, check the contract beforehand). So you will need your deposit ready to go.

You can actually put conditions on the contract, however you must do this before auction, and if you're not confident then it's likely the agent will talk in circles and talk you out of it, until you feel like you can't actually do that, what were you thinking?! Always remember it's up to the vendor tho not the agent. You can specify pest inspections etc but it's likely if there are other buyers they won't accept your conditions of sale anyway. They will always want (auction or priv sale) the best price with least conditions, most favourable contract for them and most convenient settlement date.

Also remember that the only thing they have to do is meet the contract terms. If you say 'hey will they fix that before they move out', they don't have to do anything if it's not specified in the contract. Sold as is..

And never go to settlement with them still in the house and asking if they can have a few more weeks blah blah, they'll rent from you for $XX for xx weeks. If you settle and they are still in the house, they're now your problem to get rid of and any damage they cause. It could literally get to the point where you need the sheriff to get rid of them for squatting. Never settle unless the house is empty.

Anyway thats something most ppl wouldn't mention to you but it does happen..

Crispyfries: yes thats underquoting, happens all the time to attract more buyers thinking they'll get a bargain

Rule of thumb: believe nothing an agent tells you no matter how genuine they seem. You need to play hardball and be willing to walk away at any time if they don't accept your offer.

I went through Rams for a while.. farkin.. one document, then another.. then another.. like farkin ask for them all at once u idiots! Took ages for nothing. Went through Bankwest and had no issues, approved me for way more than I needed. Only risk was if the valuation came in significantly less than what I offered, I would have been screwed and had to fork out that money myself.. but that doesn't happen much and it was still subject to finance so I could have gotten out of it...

haha reading phone email from most recent backwards..

mohsen: I like to drive with my penis hanging out the window

Hektik: I've seen 2 including the black one close to me

lol wtf is going on in here... To keep reading or just stop right there..!?

AhahahahHahHHHa I'm siggin that tomorrow morning

everyones a real estate expert :rolleyes:

anyway, auction conditions only apply 3 days prior and 3 days after a publicly advertised auction. you dont HAVE to have documents checked prior to signing as you have a 3 day cooling off period at all times except auction scenario. Also if you get paperwork checked first you have NO cooling off period once signed. Its all stated clearly on the front page of any contract you sign.

i would hardly call 270 then selling for over 300 "under quoted" 10% is standard and guidlines allow for 15% on an auction..

really its your gamble if an agent calls says there is an offer before hand, if your not convinced dont do anything if it sells dont cry like a baby that you 'missed out' (happens allllllllllll the time) most agents wont say there is another offer unless there is, cos if there isn't and then it doesnt sell it makes the agent look dumb, gives the buyer no confidence in you making negotiations harder.

Most people's perception of agents is so old school its not funny its regulated heavily now most the bs ppl talk about is from like the 80s.

under 50m can be a bitch some lenders want minimum 50% deposit for places of that size.. try go direct to your bank i dont like brokers much and remember for the life of the loan they are getting commission out of it. >_<

yes like I already said, I was talking about auctions. No cooling off period and it's in his best interests to get a contract checked before the auction esp being a first home buyer. Little bit hard to get legal advice on a Saturday when most auctions take place and you have already handed over your deposit.

if you ever do an offer offer an exact $ amount dont do ballpark

ie dont do my offer is 265000

say my offer is 264150

that way its exact, theres no variance, theres no more room, thats it

Anyone know any good wreckers besides the ones in the stickies lost that could help source a cheap 3" cat? Doesn't even need to work. Just needs to look like it does :P

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