• Short term rental accommodation, furnished rentals in port Noarlunga Adelaide, South Australia
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    1. #11

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      My understanding is a bit different. You have a 48 hour cooling off period from when the contract is signed. This is for the buyers and you can pull out at any time during this, say if the property inspection is dire. After that, you and the vendors are locked in and they cannot pull out of the sale. If after the 48 hours the finance falls through or doesn't come through, this is pretty much the only way the prospective buyers can withdraw from the sale at a later point. The house then returns to the open market. Properties quite often fall through due to finance not coming through and this seems to be after the 48 hours cooling off, least when we were looking. A few properties went under contract, the 48 hours passed and it was a couple of weeks later the actual sale fell through.

      Most people seem to have finance agreed and in place before they go house hunting, so know what their budget is and the lender has agreed to the amount so the finance isn't an issue. People do put in offers and sign contracts without finance being agreed and sometimes this backfires, sometimes it all comes through fine.

      We put in an offer on a house but they accepted someone else's offer. A few weeks later the house was re listed for sale having been under contract stating failed finance. We had by then put an offer in on a different house but had it been re released a week before we may have asked them to reconsider our original offer.


    2. #12

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      Hell's Agents

      Quote Originally Posted by Philly47 View Post
      In the subject of buying my son has recently bought and will move in May
      He had his offer accepted by the owner then used the same realtor to sell his place
      it was only when he signed up to sell that the realtor told him he had put a second contract on the house my son was buying !
      Sons sale and purchase etc has all gone through but I had never heard of any estate agent doing this
      Has anyone else !
      My son said he felt he was under pressure as it was as if Well if you don't complete in time tough the house will go to someone else
      "



      Philly, you are a beacon of light.....

      - I'm in the process of selling and buying at the moment, myself.

      I was beginning to think it was just background paranoia.... you know- the feeling that Real Estate Agents are alien beings in league with some vast incomprehensibly vile malevolent force from Satan's Nether Regions

      -But you're absolutely right ....they are all completely whacked ....and horribly nasty

      Give me a run-in with a Suburban Snake, or any number of Redbacks, and throw in a Bar Room Brawl with the Hells Angels, any day


      JB
      Last edited by John Browning; 31-08-2016 at 02:41 PM.

    3. #13

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      OP

      sorry Fran...got a bit carried away there

      -Back to your question:

      Suburbs:

      Do you really want (- or, indeed, do you need) to commute into the Hospital by car.

      Would it be easier to spend $2 a day Park and Ride on the Tram from The Entertainment Centre, for instance

      ....this would open up a whole bunch of interesting options like Prospect etc etc

      Brokers:

      Just a thought, but no one seems to have mentioned Aussie Home Loans, yet

      JB

    4. #14

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      Hi john, no worries it's interesting seeing what everyone has to say! I'd be working shifts 24/7 so can't rely just on public transport sadly so would need to drive esp late at night / early in the morning. Prospect I've heard good things about. I was always told south of the city was better than north. No idea if this is the case or just biased Adelaidians I've spoken to.

      Are there any 'up and coming' areas that would make a decent return? I'm guessing buying closer to the city is better?

    5. #15

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      Quote Originally Posted by snifter View Post
      My understanding is a bit different. You have a 48 hour cooling off period from when the contract is signed. This is for the buyers and you can pull out at any time during this, say if the property inspection is dire. After that, you and the vendors are locked in and they cannot pull out of the sale. If after the 48 hours the finance falls through or doesn't come through, this is pretty much the only way the prospective buyers can withdraw from the sale at a later point. The house then returns to the open market. Properties quite often fall through due to finance not coming through and this seems to be after the 48 hours cooling off, least when we were looking. A few properties went under contract, the 48 hours passed and it was a couple of weeks later the actual sale fell through.

      Most people seem to have finance agreed and in place before they go house hunting, so know what their budget is and the lender has agreed to the amount so the finance isn't an issue. People do put in offers and sign contracts without finance being agreed and sometimes this backfires, sometimes it all comes through fine.

      We put in an offer on a house but they accepted someone else's offer. A few weeks later the house was re listed for sale having been under contract stating failed finance. We had by then put an offer in on a different house but had it been re released a week before we may have asked them to reconsider our original offer.
      Haha.....hmmm...maybe thats what I meant Snifter! Your explanation sounds about right!

    6. #16

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      Look at Bowden, lots of new development and quite a funky vibe.
      Not a morning person!

    7. #17

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      "no one seems to have mentioned Aussie Home Loans, yet"
      I believe it is owned by the Commonwealth Bank now.
      My daughter was happy with Mortgage Choice, but they are franchises, so I would imagine they vary.
      You can certainly shop around for a good deal as to both application fees and interest.

    8. #18

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      Yes that's what happens 48 hours cooling off period in that time you need to get a survey done then if you don't back out you pay your deposit and the dates for finance approvals etc are written into the contract
      His finances had to be approved by March 15th and his contract finalised by March 30th with settlement due in May
      My son had pre approval for finances so he knew he was all good as he could have borrowed the full amount if necessary if he hadn't sold his house by the time the contracts were due to be finalised
      But after his 48 hours cooling off period and having signed a sales contract and agreed to use the same realtor that sold him the new property to market his property the realtor suddenly came up with Oh by the way I have put another contract on the property !
      My sons conveyancer said she had not had that happen before and we have bought and sold 3 houses in SA over time and never heard of it either
      i just thought it seemed unethical but don't know if it's illegal ?

    9. #19

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      Quote Originally Posted by John Browning View Post
      "



      Philly, you are a beacon of light.....

      - I'm in the process of selling and buying at the moment, myself.

      I was beginning to think it was just background paranoia.... you know- the feeling that Real Estate Agents are alien beings in league with some vast incomprehensibly vile malevolent force from Satan's Nether Regions

      -But you're absolutely right ....they are all completely whacked ....and horribly nasty

      Give me a run in with a Suburban Snake, any number of Redbacks , and throw in a Bar Room Brawl with the Hells Angels, any day


      JB
      Son not happy with the agent at all JB he turned up late for two open inspections my son sitting outside his home with the dog in the ute and keys to the gate with a queue staring at him as if he was nuts
      Then the agent tried to get him to take the first reasonable offer ( the agents words ) but my son hung on to his guns and ended up with another 10 grand and got the figure he had wanted with some negotiation with the buyer
      The realtor is now trying to add bits and bobs to the bill plus said my son told him verbally he would leave some equipment in the home theatre room
      He didn't both his Dad and I were there when he told the realtor exactly what would and would not stay !!!
      Said son is not a happy bunny with the estate agent but he has got the place he wants and I will also say he dealt with Bank SA and the lass who dealt with his loan has been brilliant

    10. #20

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      Hell's Agents

      yes...it's a strange thing about the big banks -really nice people face to face behind the counter, but then ranks of toxic sociopaths behind them.

      strange organisations...remind me of the Australian Public Service

      As for RE Agents, does your son have recourse to a complaint procedure? Guessing that most of us buy and sell so infrequently, that very few people get around to lodging a complaint. Of course, just because something isn't illegal doesn't mean it's OK-presumably the RE Institute has some sort of Code of Conduct. Come to think of it Consumer Affairs ought to have something to say given that this was a purchase situation

      - Anyhow......I'm seriously thinking of finding a way to take Hells Agents out of the equation with my own relocation, by using Private Treaty contracts


      JB

     

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