Hi everyone - I am reaching out for your collective expertise. I put a final offer on a house that was accepted, a holding deposit paid and house taken ‘off market’ pending successful exchange. A week later I was gazumped by something small. I was told the vendor (a developer) would accept my offer if I get the signed contract and deposit in first - which I did. The vendor did not exchange. I have no confidence in the vendor’s word anymore after he renegaded twice on it. What would you do? Would you match and incentives with a larger deposit for 24-48h for contract exchange? How long would you wait until matching noting other party is getting ready as well? How easy, difficult is it for vendor to exchange quickly? Would you wait until other party ready to submit a contact and then come over them in final minute? I do not want to get into a silent auction and push the price up. Any similar experiences?
Do you know why didn't the vendor accept the offer he asked you to agree to? If you continue with this vendor, I'd put your offer on and ask for signed, unconditional acceptance by 5pm that day. You are not a new prospect. He knows you are keen.
