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#21 Scuba_Steve

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Posted 21 June 2017 - 10:20 PM

cheers Scuba will put them on the list to check out

we're thinking see 2 or 3 brokers, direct with the bank, and after doing research on NZ Home Loans might give them a miss as sounds like I can do the same with the bank direct for lower interest

No worries

We saw 5 brokers I think (and it's good to see a couple, see who you're gonna be comfortable with)

We ended up with Warren (Rule Financial) due to being easy to deal with, previous history working for the bank lending so knowing the game well, the fact he didn't talk sh*t & straight up told us the best deal for us not where he would get the best kickback (which he was also open with & that explained why some of the others we saw tried pushing us in certain directions), this guy also went to bat for us when the bank tried to back out at the start of the recession when we finally found a place we wanted (which for reference took us like 1.5yrs)


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#22 BigC

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Posted 08 January 2018 - 07:10 PM

This house has been on the market for over a month now with no offers. If we make am over for what they are asking, is that the only offer we can make? Do they come back and say no so that we can make a bigger offer?

Also if they say our offer is ok, and then the next day it becomes a multiple offer situation, can we then go and offer more, or are we stuck with that original offer?

Aka if no one has made an offer, are we safe to make any offer we want, or so we have to make the best offer we can right off the bat?
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#23 AdamC

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Posted 08 January 2018 - 07:18 PM

Any offer can be changed/accepted/canceled at any time until it goes unconditional with lawyers.
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#24 drunk_monk

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Posted 08 January 2018 - 07:41 PM

Yea offer away. The worst they can say is no.

They can say we will only take x, or make a poi yet offer, etc.

Until it goes unconditional they can take another offer. But make sure your conditions are solid.
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#25 Scuba_Steve

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Posted 08 January 2018 - 07:42 PM

This house has been on the market for over a month now with no offers. If we make am over for what they are asking, is that the only offer we can make? Do they come back and say no so that we can make a bigger offer?

Also if they say our offer is ok, and then the next day it becomes a multiple offer situation, can we then go and offer more, or are we stuck with that original offer?

Aka if no one has made an offer, are we safe to make any offer we want, or so we have to make the best offer we can right off the bat?

You can offer whatever you want even 1$ if you want & by law the agent must present it. The seller then has the option of accept, neg, or reject; upon the latter there is nothing stopping you from trying a new offer

 

Agents must tell you when you're in a multi-offer situation, if you are you want to think about your offer a bit more as you'll generally only get 1 chance; but the seller is under no obligation to take the highest they can still choose which offer to accept, usually it's the highest but sometimes they'll go for an easier settlement or someone that isn't a developer. 

 

If no-one else has made an offer then low ball a realistic one, you don't have anything to lose except time; if someone else comes into the bid then again as before the agent must tell you & give you opportunity to adjust the offer if you wish (you don't have to & don't feel pressured to)


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#26 AdamC

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Posted 08 January 2018 - 07:47 PM

 

This house has been on the market for over a month now with no offers. If we make am over for what they are asking, is that the only offer we can make? Do they come back and say no so that we can make a bigger offer?

Also if they say our offer is ok, and then the next day it becomes a multiple offer situation, can we then go and offer more, or are we stuck with that original offer?

Aka if no one has made an offer, are we safe to make any offer we want, or so we have to make the best offer we can right off the bat?

You can offer whatever you want even 1$ if you want & by law the agent must present it. The seller then has the option of accept, neg, or reject; upon the latter there is nothing stopping you from trying a new offer

 

Agents must tell you when you're in a multi-offer situation, if you are you want to think about your offer a bit more as you'll generally only get 1 chance; but the seller is under no obligation to take the highest they can still choose which offer to accept, usually it's the highest but sometimes they'll go for an easier settlement or someone that isn't a developer. 

 

If no-one else has made an offer then low ball a realistic one, you don't have anything to lose except time; if someone else comes into the bid then again as before the agent must tell you & give you opportunity to adjust the offer if you wish (you don't have to & don't feel pressured to)

 

I would be sceptical if the agent told me there was another offer lol. Id think they were just trying to get me to spend more. 


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#27 BigC

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Posted 08 January 2018 - 08:20 PM

Awesome guys, thanks for such a quick response!  Pretty much answered all of my questions and then some!

 

It is good to know we can make a 'low' realistic offer. My main concern was if we were able to adjust our offer once (if) it became a multiple offer situation, which Scuba beautifully addressed.

 

Also Adam, I felt the same way on a previous house we put an offer on. I felt like the real estate agent was trying to get top dollar from us. Turns out another person (or more) did in fact have a better offer than us and thus, we lost out.


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#28 AdamC

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Posted 08 January 2018 - 08:45 PM

ahh that sucks man. I dont miss house hunting, but hopefully you get the one you really want. 


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#29 ricky1981

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Posted 09 January 2018 - 05:07 PM

Just to add a tip about mortgages - it's perfectly possible and often sensible to split your mortgage into chunks.

 

We put most of our borrowing on a fixed 1-2 year mortgage where rates are usually best (this may change but has worked well for us for ~10 years). We put the rest on an offset mortgage, the rate will be a bit higher but any savings you have (including your current account) will be offset against the mortgage.

 

This means we can set aside money for holidays and rainy day funds but still have that working to help beat ~5% mortgage interest rather than getting a rubbish 1-2% savings rate.

 

It's worth aiming to establish a rainy day fund asap if you can, sh*t happens and a house brings more potential for unexpected bills.


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#30 BigC

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Posted 10 January 2018 - 09:16 PM

Cheers for that info Ricky.

Well it became a multiple offer situation in the end but our offer was accepted! Holy s**t this feels strange haha.
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#31 Dvst8u

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Posted 10 January 2018 - 09:25 PM

Well done and welcome to the club. 🏡
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#32 Scuba_Steve

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Posted 10 January 2018 - 10:01 PM

Cheers for that info Ricky.

Well it became a multiple offer situation in the end but our offer was accepted! Holy s**t this feels strange haha.

Congrats! Now you can know the pain that is property maintenance  :P

But it's not over yet as now you've gotta run round getting all those conditions met (unless you went unconditional)

Then comes the worst part of the whole thing... The move.


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#33 BigC

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Posted 11 January 2018 - 01:30 AM

Thanks guys. Totally scary but exciting times for sure! Hopefully our conditions are met as we really love the place. Really looking forward to a. Moving and b. Having no money for a long time :P

Edited by BigC, 11 January 2018 - 01:31 AM.

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#34 drunk_monk

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Posted 11 January 2018 - 07:31 AM

GRATS BigC!!!
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#35 CoffeeAddict

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Posted 14 January 2018 - 09:02 PM

Congrats!


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#36 Dvst8u

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Posted 14 January 2018 - 09:26 PM

Had a flood in my bathroom Friday night. One split hose and a swollen cabinet. Sigh.
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#37 drunk_monk

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Posted 14 January 2018 - 09:32 PM

Damn devastate.

House ownership, can't blame the landlord without a slice of self hate
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#38 Dvst8u

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Posted 15 January 2018 - 09:31 AM

Damn devastate.

House ownership, can't blame the landlord without a slice of self hate

 

the owner of our house is abit of a dick to be fair. handsome as f tho.


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#39 drunk_monk

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Posted 15 January 2018 - 10:03 AM


Damn devastate.

House ownership, can't blame the landlord without a slice of self hate


the owner of our house is abit of a dick to be fair. handsome as f tho.

I'd bang him.
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