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Offer in tassie

Discussion in 'General Property Chat' started by 4point5million, 8th Dec, 2015.

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  1. 4point5million

    4point5million Well-Known Member

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    How do I make an offer in Tassie? Contract?

    What deposit should I offer? Or what is the norm?

    Is there a cooling off?

    About to make an offer, any advice appreciated

    Don't want to go in blind!
     
  2. See Change

    See Change Timing Lord Premium Member

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    All a bit weird and buyer beware in Tassie.

    Get a copy of the contract from the agent .

    Then write all the conditions you want into the contract and submit it .

    Talk to a conveyance / solicitor about what conditions you want . Don't need a big deposit . around 5 k should do it unless the market is hot

    There isn't much protection for buyers down there , though you can get title insurance .

    Cliff
     
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  3. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    It's been a while since I made an offer in Tassie, but from memory it's a contract - ask the RE to email it to you and have a look.
     
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  4. larrylarry

    larrylarry Well-Known Member

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    @legallyblonde will be able to help since she bought 2 IPs in Tassie in recent times. @See Change how is Tassie different from the other states?
     
  5. legallyblonde

    legallyblonde Well-Known Member

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    I agree with the above.. Buyer beware as there is no cooling off period! Written contract is the standard... The agent will email you the generic contract and you add your own conditions.

    Still only one IP1 @larrylarry the new purchase fell over and I have just started a new job, so no new IP until Feb at the earliest!
     
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  6. See Change

    See Change Timing Lord Premium Member

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    Real estate transactions are state based so every state is different . There's very little protection to the buyer in Tassie so it's basically it's buyer beware . You or your lawyer have to make all you're own enquiries .

    No documentation as to the title etc is provided by the sellor and you can't make enquiries to the council without written permission of vendor and there's no or very little information on council web sites .

    We wrote subject to inspection , building inspection and finance clauses into our contracts

    Cliff
     
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  7. larrylarry

    larrylarry Well-Known Member

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    Wow. Interesting.
     
  8. 4point5million

    4point5million Well-Known Member

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    Thanks for all the advice

    Made an offer on a dev block yesterday but never got past verbal, seems the agent thinks it's worth than what I think but no surprise there!

    Have been looking at moonah west and surrounding areas, good opportunity for yield and not a lot of stock available-but not sure if this is norm or not and can't seem to work out if it's going to get hot.... Agents seem to think things have/may pick up more but have advised not to offer over asking price.

    Lots of restaurants opening up and quite a lot of development underway- north hobart also seems to be the go with hipsters and young families being priced out and the overspill and renovations starting to happen in the next suburbs out...tradies saying for the first time in 5 years they are now turning away work- 5 cranes expected in the sky by mid next year.
     
  9. 4point5million

    4point5million Well-Known Member

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  10. jpcashflow

    jpcashflow Well-Known Member Business Member

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    A offer by mouth is not an offer at all... ensure your offer is done in writing and you have all you need covered eg: finance or building inspection.

    Are you viewing the properties?
     
  11. 4point5million

    4point5million Well-Known Member

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    It wasn't worth going to paper, he wants a developer to pay an inflated figure, I understand what it is they want but I don't want to pay that much
     
  12. legallyblonde

    legallyblonde Well-Known Member

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    Without sounding too Tasmanian... The attached property has a history of water damage/mould and colapsing retaining walls. 55 sold recently too which gives you a gauge for potential. The owner of 53 is a little old lady who has moved into a nursing home.
     
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  13. Aaron Sice

    Aaron Sice Well-Known Member

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    you reckon.....? :eek:

    great info though ;)

    [​IMG]
     
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  14. legallyblonde

    legallyblonde Well-Known Member

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    Haha... I didn't even look at the add because I am so familiar with the neighbours issues which is a rental with a high turnover of tenants ;)
     
  15. 4point5million

    4point5million Well-Known Member

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  16. legallyblonde

    legallyblonde Well-Known Member

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