Mexican standoff in negotiations: Creative minds needed!

Me too.
More than happy for it to happen when I'm the buyer.

 

Well me too. Just need to not let them work 'us' as buyers either. But I think we are OK

 

Agree to $285K on the condition that they address all structural issues identified prior to settlement.

 

I just did this, 10+ hrs driving, negotiated a good price before hand, agent went and sold to someone else once he knew the floor.

Can't be worried about it though, you either have to decide to come up, or wait it out and hope the agent is not a snake, and I would do what others suggested, 285 if repairs are done to standard that satisfies your choice of inspector.

 

I like it when the agent is just a little dodgy and lets some things slip.
We should do alright

 

What do you mean by the floor, your highest offer?

 

Or the bottom price one should sell?

 

No, the supposed lowest price the vendor would go, once the agent knew this, it made it easy for them.

Shot themselves in the foot a bit really.

 

Ah right.
Did you get to see some other houses while you were there at least?

 

No, it was a specific trip, however we did do another 20 odd hrs driving to 2 other main locations, no results though.

 

Woah! In the same City or the long way around?

 

long way round over 3 days.....we had plenty of stops in nice cafes etc too

 

Good stuff, sounds like it wasn't a waste.
Any tips

 

Tips ? not sure what you mean, so here is a few........

Don't trust agents, even if you have dealt with them before

Young is a nice place to drop in and have a coffee etc, it is kind of like Orange, not a dull boring country town

Albury Wodonga is a nice place, again, not a boring hick town, saw more taxis at midnight than what I would around my area, people out having a good time.

Melbournes SW is hot, anything priced well is out the door straight away, sellers market.

Point cook looks like a nice place to live, be aware some estates have community fees.

Try not to sleep in your car, it is not comfy.

 

I would only offer what I believe the property is worth . Don't worry about loosing the deal by 5 grand , it happens sometimes however you need to be able to sleep well after the deal .

 

For some extra incentive, spend $3 on a rental and revisit:-

 

Aside from price, what else is important to them?
What's important to you?.
are there other ways you can get the saving you want without it coming off the price - ie) have them repair $10k or more worth of stuff? Give you early access and a long settlement for renovations. (Not sure what you're aiming to do with the property)
You can give them 3 different offers to consider each with different terms and see if they will go for one of them. If they have just dig their heels in at hie for price just because it's what they want, then walk away and let the agent know to conta you if anything changes, and touch base with him every week or so. If no-one else will buy it, you will ultimately get the property at the price you want IF they have to sell. Do you know what their circumstances are?

 

More happening here than over at:
Mexican standoff in negotiations: Creative minds needed! - PropertyInvesting.com

 

Never heard of that forum even...

 

If they're fixed on their price then some creative solutions might be

1. vendor finance? Offer them their floor with the condition that they finance your deal. If not entirely, then perhaps the difference between your ceiling and their floor.
2. Or put an option contract on the property subject to your settlement date once you onsell. Get your rehab done before that time and once finished give them their floor price.

Make sure all your contracts are tight. lawyer up.