Offer to purchase question

So the agent came back and said he allready got 2 offers for full asking price and doubt that the seller will be accepting my offer of 250k less the asking price.
 
Mojo32 said:
So the agent came back and said he allready got 2 offers for full asking price and doubt that the seller will be accepting my offer of 250k less the asking price.
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He is probably baiting you to try increase your offer. Maybe walk away and see if the agent comes crawling back, then drop your offer by another 50k.

If there were 2 offers at full asking price why would he even tell you that, he should tell you the house is sold. The first offer should have been accepted and the second offer should go as the fallback offer in the event the first one falls through
 
Mojo32 said:
So the agent came back and said he allready got 2 offers for full asking price and doubt that the seller will be accepting my offer of 250k less the asking price.
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the agent is obligated to present your offer, don't listen to them, if the seller had 2 offers for full price why are they not accepted and in flight?

your offer, even lower, could be more attractive if you for example don't have subject to conditions or bond conditions yada yada.
 
Mojo32 said:
So the agent came back and said he allready got 2 offers for full asking price and doubt that the seller will be accepting my offer of 250k less the asking price.
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Sounds like agent BS...put your offer forward. If there really are 2 offers for full asking, yours might still be more attractive if there is no subject to sale clause etc.
 
In addition to all the points above, there's a lot of BS in saying they have 2 offers at full price.

Nobody offers full price. The property market isn't exactly buzzing.

If they have 2 offers at full price, why waste your time filling out an OTP? Why did they not tell you then already?

If they received those offers after you, they are still obligated to present yours. I would ask that they mail your offer to the seller and copy you.

Be prepared to walk away. If they come back begging, wait for your offer to expire and knock more off the price...
 
Tman543 said:
These two threads below would give you an idea on the HL rates each banks offers and the time it takes. In my experience Nedbank was always the fastest in getting an offer to you.


Homeloan Interest Rates

I remember a few years back that no matter how good your credit rating, your interest rate was going to prime + because of the general economy. Have things changed and banks a little better ?
mybroadband.co.za mybroadband.co.za

https://mybroadband.co.za/forum/threads/home-loan-prime-minus.1123898/
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Thanks once again for this, it was super helpful. Together with those threads and @zerocool2009 and his FNB agenda :):X3:), I managed to get 6.10% from FNB and then the 0.25% for having them as my main bank will come into effect once the registration is complete.

Bond instruction received from the attorneys and the process is now well underway.

Thanks again everyone :notworthy:
 
VBot said:
Thanks once again for this, it was super helpful. Together with those threads and @zerocool2009 and his FNB agenda :):X3:), I managed to get 6.10% from FNB and then the 0.25% for having them as my main bank will come into effect once the registration is complete.

Bond instruction received from the attorneys and the process is now well underway.

Thanks again everyone :notworthy:
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Well done! Did you put down a sizable deposit?
 
Mike Hoxbig said:
In addition to all the points above, there's a lot of BS in saying they have 2 offers at full price.

Nobody offers full price. The property market isn't exactly buzzing.

If they have 2 offers at full price, why waste your time filling out an OTP? Why did they not tell you then already?

If they received those offers after you, they are still obligated to present yours. I would ask that they mail your offer to the seller and copy you.

Be prepared to walk away. If they come back begging, wait for your offer to expire and knock more off the price...
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in cpt i have seen houses go for over the asking price

there was a property going for 1.85m. Someone offered 1.88m

and plenty of houses here in CPT i have seen go for asking price

houses are in high demand here.
 
I.am.Sam said:
in cpt i have seen houses go for over the asking price

there was a property going for 1.85m. Someone offered 1.88m

and plenty of houses here in CPT i have seen go for asking price

houses are in high demand here.
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Definitely the case here in CPT. I couldn;t even get a quote from ABSA as one of the other offers ran to ABSA first and got a bond. ABSA told me they first needed the person to accept or reject the offer before they can quote me anything for the same property.
 
I.am.Sam said:
in cpt i have seen houses go for over the asking price

there was a property going for 1.85m. Someone offered 1.88m

and plenty of houses here in CPT i have seen go for asking price

houses are in high demand here.
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Same here. There's a house in Randpark Ridge that we wanted to buy but it was bought cash on the first day it was shown for more than the asking price. Mind you, the place was a gem.

But we struggled to find a place because all the nice houses sold crazy quick.
 
Mojo32 said:
So the agent came back and said he allready got 2 offers for full asking price and doubt that the seller will be accepting my offer of 250k less the asking price.
Click to expand...

This is a sign not to waste time! Move on to the next house you liked! If agents start to play games, walk away!

It could be a trap to get you to revise your offer! And sadly agents dont get this: you sit with the debt...

I would walk away and start reviewing other property!
 
Solitude said:
Same here. There's a house in Randpark Ridge that we wanted to buy but it was bought cash on the first day it was shown for more than the asking price. Mind you, the place was a gem.

But we struggled to find a place because all the nice houses sold crazy quick.
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why would you pay more than asking price ecspecially when you have cash to do so?
 
Solitude said:
Because the house got a lot of offers on that first day. We offered more than the asking price.
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Still doesn't make sense, how many of those other offers were for full asking price, without subject to or bond conditions?
 
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