Agents poaching sales

Discussion in 'The Buying & Selling Process' started by Brisbuyer, 15th Dec, 2017.

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  1. Brisbuyer

    Brisbuyer Member

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    By the time the contract made it to me it was already changed back to 900k, even though it was signed by the vendor at $890. I’ll try and attach it
     

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  2. Brisbuyer

    Brisbuyer Member

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    Then I refused to come up to $900k so I didn’t sign it, so they said they are going to the other party that offered $900
     
  3. 158

    158 Well-Known Member

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    You had the opportunity to cross out the $900k and rewrite $890k and initial it to send back to vendor. Perhaps you still can - as you have a copy there is nothing stopping you sending a completed contract again for their consideration. When a vendor sees a signed contract by a buyer, their stubbornness subsides especially in this price range. Then you just need to put a timeline on your offer. The agent is still compelled to present the latest offer as the conditions of the contract have changed (you have signed it, making it a new contract).

    pinkboy
     
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  4. Brisbuyer

    Brisbuyer Member

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    Thanks pinkboy, I didn’t realise I could do that. I might just do that and hand it in just in case the other partie’s contract crashes (that’s if it even exists)
     
  5. balwoges

    balwoges Well-Known Member

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    Vendor's choice over who buys the property, when working in one office I always went home to make phone calls so the other agents wouldn't know what deals I was making :D
     
  6. Beano

    Beano Well-Known Member

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    I thought all property agreements have to be in writing ?
     
  7. Beano

    Beano Well-Known Member

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    Until you sign I do not believe you have a contract
    I do not think verbal counts in property
    (Only in writing)
    Correct me if I am wrong
     
  8. RPI

    RPI SDA Provider, Town Planner, Former Property Lawyer

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    If the contract has been signed the offer and acceptance still have to be communicated.

    Contracts have found to be binding via email even without electronic signing.

    eg

    email 1
    Beano can I buy your house at 21 smith st for $399k on $1k deposit, 14 days finance and 30 days settlement.

    Email 2
    RPI agreed, send over a contract and I'll sign it
     
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  9. Big Will

    Big Will Well-Known Member

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    Not a binding contract from what you have written.

    Need both parties signed
     
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  10. Xenia

    Xenia Well-Known Member

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    What’s actually happening in their office does not affect you. What affects you is whether there was a higher offer presented and if there actually was then are you prepared to lose the house or put in a higher offer???
     
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  11. Beano

    Beano Well-Known Member

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    Many times the agents said the vendor will sign IF you offer xxx but seldom happens
     
  12. Kangabanga

    Kangabanga Well-Known Member

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    REA is very likely playing with you. If he is telling you another agent has higher offer means they will be sharing the commission.
     
    Last edited: 17th Dec, 2017
  13. Mick Butterfield

    Mick Butterfield Well-Known Member

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    @Brisbuyer how did this end up playing out? Did you get the property?
     
  14. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    @RPI do you have the case law reference for when email offers have been found binding?
     
  15. Brisbuyer

    Brisbuyer Member

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    Hi Mick,
    They ended up calling back 6 days later, the people they went with apparently couldn’t get finance. I still don’t believe they existed, I think it was all a game to get us to come up in price. Anyway, they said we could have it for $890 (the price we offered) but because I was still bitter and twisted about the way things played out I said my offer now is $880 take it or leave it. So the vendor said no. I’m happy we walked away. The propertt passed in at $870, then 2 contracts fell through, then our offer was/wasn’t/ was again accepted....... I think we dodged a bullet!
     
  16. Gockie

    Gockie Life is good ☺️ Premium Member

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    With all that happening, it could still be a decent buy. Anyway, its up to you.
     
  17. Mick Butterfield

    Mick Butterfield Well-Known Member

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    Agreed. No need to cut off your nose to spite your face. Maybe offer $870k and think their behavior cost the a solid 20k.
     
  18. RPI

    RPI SDA Provider, Town Planner, Former Property Lawyer

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    QLD Supreme Court Case, last couple of years. Can't recall who v who but you should be able to find with attorney google.
     
  19. Illusivedreams

    Illusivedreams Well-Known Member

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    I don't believe that is correct.
    You need consideration for contract to be formed.
    That' why you need a deposit.

    .
    Any case. My second last IP.
    Was similar techniques used by agents.
    I Did buy the house after initial was accepted than rejected. 2 weeks later agent called back said deal fell over. I reoffered $30k less than initial accepted offer.

    It was accepted now its my IP.

    It sounds like your first time in this position.

    I can assure it will not be last.
    If it's a good price being angry simply punishes you.
     
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  20. Ed Barton

    Ed Barton Well-Known Member

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    Under common law consideration doesn't have to be a deposit. It can be a promise to exchange something of value in the future - ie pay the contract price on the date agreed.