How do Pre Auction EOI's work in QLD?

Discussion in 'The Buying & Selling Process' started by Mooze, 27th Feb, 2016.

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  1. Mooze

    Mooze Well-Known Member

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    Trying to find out the legalities around these - as per usual all protections written in for seller but agent(s) were asserting that it is not legally binding on the buyer, however nothing on the one pager notes this.

    Is anyone able to explain for me how these work? We've found a property we'd like to put an offer on, waiting to hear back from broker and builder. Agent was pushing for EOI rather than contract. (actually had that happen at to houses today - same chain different offices)
     
    Mooze, 27th Feb, 2016
    #1
  2. RPI

    RPI SDA Provider, Town Planner, Former Property Lawyer

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    Unusual, normally put on a contract. Happy to look at a doc for you if you send it through to my email and will respond through here sans identifying info
     
    RPI, 27th Feb, 2016
    #2
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  3. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Floor price for auction most times

    ta

    rolf
     
    Rolf Latham, 27th Feb, 2016
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  4. Bran

    Bran Well-Known Member

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    If they won't accept a contract offer, you are wasting your time imo. Might be better keeping it under wraps and attending the auction. As Rolf said, otherwise you will be setting the reserve.
     
    Bran, 28th Feb, 2016
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  5. Azazel

    Azazel Well-Known Member

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    Make a really cruddy offer then?
     
    Azazel, 28th Feb, 2016
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