Advice on house offer

[Eevo]

Back in december I found a house I like.
It had been on the market for 90 days. It already had 1 offer fall through due to finance.
It was advertised for 420-440
After consulting a few banks and a few people, I put in an offer of 380, mainly due to the house being below average condition.
I got a phone call to say a different offer was accepted a few hours before mine was submitted however my offer was in the ballpark.

Fast forward to this week, I get a call from the agent who said the contract fell through due to finance.

So I make another offer this morning for 375. I get a phone call to say my offer has been rejected and I need to be offering 420 and above. When questioning about being in the ball park, he claims I must of misheard him. I told the agent the property isnt worth that much and I won't be offering that amount.

So my question is, is the agent playing games? A guy at work suggested the agent didnt even present the offer.

My uncle, who has bought, built and sold a few homes, says its been on the market for 4 months, and I should wait a week and make another offer but decrease the price by 5k and repeat week after week.

Or have we reached an impass?

[Gordie]

I usually find that if I make and offer and the agent rejects it....I say 'thanks but that's it' and walk away. Most times they have come back and accepted my offer or I have only had to up it slightly.


Stick to your offer! Personally I think going down with the offer would put the vendor off dealing with you.

[loanrangie]

You may be right and agent didnt pass it on rather playing the game and hoping you put in a higher offer, stand your ground and risk missing out or up your offer slightly - in your court.

[Mick_Marsh]

So my question is, is the agent playing games?
Probably

A guy at work suggested the agent didnt even present the offer.
I've experienced that before. The guy at work is probably right.


My uncle, who has bought, built and sold a few homes, says its been on the market for 4 months, and I should wait a week and make another offer but decrease the price by 5k and repeat week after week.
Good advice. You'll not be taken seriously again by that agent though.


Or have we reached an impass?
How much do you want the house? Up your offer or look elsewhere. Is it listed by another agent?

[rangieman]

Having bought and sold a few homes over the years i have come to the conclusion that real estate agents are lower than car salesman :angel:
No offence to any members that are in either game ;)
Honestly real estate agents are in it for them selves they will tell a seller or buyer they are working for them :twisted:
I treat them all with contempt as they will lie to seller and buyer to get a sale so i call the shots my self :cool:
Stand by your offer there will be another house if this falls through;)

[Eevo]

How much do you want the house? Up your offer or look elsewhere. Is it listed by another agent?

Well I like the house but I won't pay more than I think it's worth.
This is my first house and although I have an above average wage, I'm not going to go nuts on a first home but I don't want just any house.

I don't believe it's listed with another agent.

I forgot to mention, the owner has owned it for 15 years and has rented it out the whole time. They have not been able to rent it out for the last 9 months.

Is there a good way of asking how long can the owner sit with the house unsold and reinforce that houses usually sell In a much shorter time period, and if it hasn't sold, it's cause it's overpriced.

[NavyDiver]

Back in december I found a house I like.
It had been on the market for 90 days. It already had 1 offer fall through due to finance.
It was advertised for 420-440
After consulting a few banks and a few people, I put in an offer of 380, mainly due to the house being below average condition.
I got a phone call to say a different offer was accepted a few hours before mine was submitted however my offer was in the ballpark.

Fast forward to this week, I get a call from the agent who said the contract fell through due to finance.

So I make another offer this morning for 375. I get a phone call to say my offer has been rejected and I need to be offering 420 and above. When questioning about being in the ball park, he claims I must of misheard him. I told the agent the property isnt worth that much and I won't be offering that amount.

So my question is, is the agent playing games? A guy at work suggested the agent didnt even present the offer.

My uncle, who has bought, built and sold a few homes, says its been on the market for 4 months, and I should wait a week and make another offer but decrease the price by 5k and repeat week after week.

Or have we reached an impass?

I made an offer to an agent who did not pass it on to the owner. The building sold for a lot less than my offer. I was away on the auction day. I found out who the owner was and told them. They do not love the agent:angel:

[Mick_Marsh]

Well I like the house but I won't pay more than I think it's worth.
Move on.

Every now and then resubmit your offer verbally. Don't put the offer in writing unless you agree to the contract and put any conditions such as "subject to bank finance" on the offer. The written offer is as good as a contract.

After some time the agent may call you to ask if you are still interested and want to up your offer. Give him your contact details.


I forgot to mention, the owner has owned it for 15 years and has rented it out the whole time. They have not been able to rent it out for the last 9 months.

Is there a good way of asking how long can the owner sit with the house unsold and reinforce that houses usually sell In a much shorter time period, and if it hasn't sold, it's cause it's overpriced.
Irrelevant. You are allowed to own empty houses.

[Mick_Marsh]

I made an offer to an agent who did not pass it on to the owner. The building sold for a lot less than my offer. I was away on the auction day. I found out who the owner was and told them. They do not love the agent:angel:
Same thing happened to me on a block of land. The property was listed with multiple agents. The agent I was dealing with refused to pass my offer on ( told me my offer was rejected ). An other agent passed on an offer that was $5k less than mine and got the commission.
Them's the breaks.

[debruiser]

If you think the house is only worth $375, then I wouldn't offer very much more, maybe I'd bargain $5k or so, but if there is need for repairs remember you either have to live with a busted house or pay for them when you move in.

I would stand by the $375 offer, let them sweat a bit, if someone gives a better offer then more fool them. A the end of the day, it's your money and you have to be comfortable and happy paying $x for your house.

[trog]

If it has been a rental for such a while then vacant are there any problems that would result in an adverse building report ?

[Eevo]

The agent told me both times the contract feel through due to finance.
That could literally be finance or it could of been the banks valuation failed. I don't know.

The house is on a steep slope which I know turns a lot of people off. The rear of the house had moved and a retaining wall has been put in. The house is wood, not brick. Can't get a building inspection till offer is accepted.


It's been unrented as the rent market is slow here and I think rent was too high for the place. I looked at the place to rent 9 months ago and said rent was too expensive at the time.

[LandyAndy]

If you cant get a building inspection without an offer,make sure you add a clause "subject to a favourable building inspection" or similar in your offer.
Andrew

[Disco-tastic]

We bought a couple of years ago and paid a little more than ot was probably worth, but the house didnt need any work, and we plan to be here a while, so we're not going to lose out on the place.

It does sound a bit like the agent is playing silly buggers with you.

Best of luck with it!

Cheers

Dan

[Mick_Marsh]

Can't get a building inspection till offer is accepted.
That's not right. Something smelly there. Walk away.
I would suggest the previous interested parties canceled their finance to get out of the contract.

[Eevo]

If you cant get a building inspection without an offer,make sure you add a clause "subject to a favourable building inspection" or similar in your offer.
Andrew

Yep, that's in every offer I make.
As well as subjec to finance and valuation with my bank.
I also put a settlement date of 30days. I don't know if 30 is too long or too short

[Eevo]

That's not right. Something smelly there. Walk away.
I would suggest the previous interested parties canceled their finance to get out of the contract.

It's very common in SA.
Otherwise if the offer isn't accepted, you have wasted money on an inspection.
My parents when selling got one done and offered it during the open. House sold with one open.

I might ring up and ask for the inspection company name.

[Mick_Marsh]

I also put a settlement date of 30days. I don't know if 30 is too long or too short
It's a common thing on vacant houses.

[Narangga]

Back in december I found a house I like.
It had been on the market for 90 days. It already had 1 offer fall through due to finance.
It was advertised for 420-440
After consulting a few banks and a few people, I put in an offer of 380, mainly due to the house being below average condition.
I got a phone call to say a different offer was accepted a few hours before mine was submitted however my offer was in the ballpark.

Fast forward to this week, I get a call from the agent who said the contract fell through due to finance.

So I make another offer this morning for 375. I get a phone call to say my offer has been rejected and I need to be offering 420 and above. When questioning about being in the ball park, he claims I must of misheard him. I told the agent the property isnt worth that much and I won't be offering that amount.

So my question is, is the agent playing games? A guy at work suggested the agent didnt even present the offer.

My uncle, who has bought, built and sold a few homes, says its been on the market for 4 months, and I should wait a week and make another offer but decrease the price by 5k and repeat week after week.

Or have we reached an impass?

Is the agent playing games? - possibly but I think is just being slack in telling you that you were 'in the ballpark' at 380. He had hoped it was selling back then.

He has taken your latest offer to the owner and the owner is obviously still wanting 420 and so that is what you have been told.

Use the head not the heart and offer whatever you believe that the property is worth. Leave it to the seller to decide if he wants to sell to you at your price. In which case you may have reached an impasse.

[350RRC]

.....................
He has taken your latest offer to the owner and the owner is obviously still wanting 420 and so that is what you have been told.....................


The agent got the gig because he told the vendor it was worth 420 and that is what the vendor wanted to hear. Very common practice.

I paid maybe 50k more for a piece of of land (no agent) than it may have been 'worth'. Was hard to know at the time. No house on it, and unique on the Bellarine.

Its now worth 50% more 5 years on and I can cope with that. Backed up by the recent sale of the same acreage next door.

If you want it buy it. The condition of the house is your only real concern and reading between the lines I would be concerned too.

good luck! DL

[350RRC]

............It's very common in SA.
Otherwise if the offer isn't accepted, you have wasted money on an inspection.
My parents when selling got one done and offered it during the open. House sold with one open.

I might ring up and ask for the inspection company name........

Stoby poles are very common in SA as well, and for a reason......... termites.

Make sense? cheers, DL

[Rextheute]

Use head , not heart at this point .
Walk around the area , there will be many houses for sale .

There is always another house , buy what you can easily afford ( my opinion only ) there will be a ' correction' at some point in the near future .
Adelaide is slightly undervalued compared to other states - but that is okay at this point .
No point killing yourself to pay off what most view as an asset - you will only realise its value when you sell .

Lifestyle is everything ( in my opinion ) enjoy life .
I can honestly tell you that whatever supernatural being you wish to worship will pull the rug from under you at some point - job , health , relationship . One or all three . Been there and survived .

My father told me " financial freedom means you are in control of your decisions "
" until you have it , you do not understand "


This is not to dissuade you , go for it !


It WILL focus you resolve to succeed : ) :D

Any other motivational matters ? More than happy to help

Seriously , head not heart - all you need to know .

[LandyAndy]

You probably have already,if not do a search here.
Real Estate, Property & Homes For Sale - realestate.com.au (http://www.realestate.com.au/buy)
Andrew

[DiscoMick]

Be careful. If it has moved then you definitely want an independent inspection report. Organise your own and tell the agent you want access to get a report done and then you'll decide if you're going to make another offer. If he refuses, walk away.
There are plenty of houses for sale. We looked at maybe 40 houses before we bought our latest.
Also, use a mortgage broker. They'll probably save you at least 1% on the interest, which could be $6000 or so. A lot of money. Remember, the bank is not your friend.

Sent from my GT-P5210 using AULRO mobile app

[Dark61]

How many Landy's will fit in the shed? you haven't said.

cheers,
D

[Eevo]

How many Landy's will fit in the shed? you haven't said.

cheers,
D

6 or 7 :)

[Xtreme]

That adds a bit of value to it for you but maybe not for other interested parties ............. but it doesn't seem like there are too many others interested anyway. :D

[Dark61]

6 or 7 :)

buy it!

cheers,
D

[DiscoMick]

Just remember the Australian housing market is generally overpriced by world standards so don't feel the need to rush into buying. Sellers have inflated expectations of what their properties are worth. Plus, the market is currently flat, so the balance favours cashed up buyers at the moment. Sellers are having to adjust their expectations down to get sales. If you are a buyer, it's a good time to haggle. Buy in the slumps and sell in the booms etc.
From what you say, it sounds like the seller in that case wants too much rent, so the property remained vacant, and wants too much money for a sale. The agent would rather get a commission on a sale at a lower price than not get a commission because the seller held out for too much, so use the agent to put pressure on the seller to be more realistic.
In bargaining terms, keep talking but don't say what you will pay until you are ready to buy, because once you name a price you are committed to it.
Most buyers are pre-approved for finance, so the old line about the finance falling through often just means the buyer changed their mind about buying and made an excuse about it.

[Disco-tastic]

Most buyers are pre-approved for finance, so the old line about the finance falling through often just means the buyer changed their mind about buying and made an excuse about it.

I don't know if this is necessarily true. It could just be the agent hiding that issues were found and the buyer walked away, or that the banks valuers didnt think the house was worth the offer made and wouldnt finance it.

Eevo, you said it was a renter - what condition is it in? Is it just aesthetic stuff like holes in walls and damaged doors or are things leaning over and are there cracks in finishes?

Cheers

Dan

[DiscoMick]

I don't know if this is necessarily true. It could just be the agent hiding that issues were found and the buyer walked away, or that the banks valuers didnt think the house was worth the offer made and wouldnt finance it.

Eevo, you said it was a renter - what condition is it in? Is it just aesthetic stuff like holes in walls and damaged doors or are things leaning over and are there cracks in finishes?

Cheers

Dan

Could be, that's true. I'm wary myself about the idea of the movement on a slope. Warning bells are going off.

[Eevo]

Eevo, you said it was a renter - what condition is it in? Is it just aesthetic stuff like holes in walls and damaged doors or are things leaning over and are there cracks in finishes?

Cheers

Dan

The aesthetics are good. The adelaide hills doesn't attract the usual kind of renters.

There is 1 crack in the rear bathroom which is due to movement. A retaining wall has been put in to stop further movement.

[Eevo]

In a case of small world, I meet the previous owner of the house. She owned it for 3 years and says it was poorly built. The first owner built it himself, ie, didnt use a builder. Was built 1994.

She said I'm glad you didn't get it.for a stranger to say that...

[DiscoMick]

Sounds like you can do better. No need to rush. Retaining walls don't necessarily stop movement.


Funny you mention about meeting previous owners, as we had the same experience recently when we met the daughter of the man who built our place at Maleny. She was able to give us the original plans and property title which the council was unable to supply when we had a search done, since there has been a council amalgamation, so now we have more information about it than the council does, which could be useful if we ever have an argument with the current council. Life is funny.

[Disco-tastic]

In a case of small world, I meet the previous owner of the house. She owned it for 3 years and says it was poorly built. The first owner built it himself, ie, didnt use a builder. Was built 1994.

She said I'm glad you didn't get it.for a stranger to say that...

Yeah, unless you're planning to do a decent renovation to it, it sounds like its not a great buy!

Cheers

Dan

[Eevo]

so my uncle went to look at the place. he's a retired builder.


1 bathroom needs to be ripped out as its leaking
outside walls need painting (already knew that)
the retaining wall is strong and well build. no issues there
one of the decks is built incorrectly, using gang nails.

so about 20-30k in fixing.
he thinks it worth 400-410k

was a different agent this time. i've meet her before, she even remembers my name :wub:

she said the owners are stubborn, wont take less then 420k because the house next door, which is a dump, sold for 420k. any offer below 420 is rejected by the agent.

[cafe latte]

A bit of advice, I buy a lot of houses, in the past I used to buy them, do them up and sell them again, now I buy them for renting out. Big advice here is dont get emotionally attached to a house. That is it plain and simple, a house is worth what it is worth and if you dont get emotionally sucked in to a particular house eventually you will get a house for a very good price. I need to get a particular return on my money for renting to be worth while, but the same mind set should apply when you buy a house to live in. Problem is you (or your wife) convince yourselves that the house in question is just perfect and no other will do, it has to be that one and you spend just that bit more to secure the deal... The truth is sticking to your guns with your low offer you will probably get the house anyway and cheaper, if you dont another will come up sooner or later and you will get that for the right price. I just bought a house I looked at 18 months ago, it was advertised for 225,000. I offered 170,000, it was rudely rejected. 18 months later it still had not sold, the owners refitted the bathroom and kitchen and painted the house, it was relisted with another agent for 180,000, I offered 160,000 and got it, actually I probably should have offered 150,000..
It is a great house and it gives me a brilliant return on my money, try to do the same and stick to your guns so to speak and try if you can to take emotions out of the equation.
Good hunting
Chris

[Bushie]

Used car salesmen and real estate agents - same thing, just one has a more expensive product.

Martyn

[Eevo]

Big advice here is dont get emotionally attached to a house. That is it plain and simple, a house is worth what it is worth and if you dont get emotionally sucked in to a particular house eventually you will get a house for a very good price.


I need to get a particular return on my money for renting to be worth while, but the same mind set should apply when you buy a house to live in.


The truth is sticking to your guns with your low offer you will probably get the house anyway and cheaper, if you dont another will come up sooner or later and you will get that for the right price.

I just bought a house I looked at 18 months ago, it was advertised for 225,000. I offered 170,000, it was rudely rejected. 18 months later it still had not sold, the owners refitted the bathroom and kitchen and painted the house, it was relisted with another agent for 180,000, I offered 160,000 and got it, actually I probably should have offered 150,000..
It is a great house and it gives me a brilliant return on my money, try to do the same and stick to your guns so to speak and try if you can to take emotions out of the equation.
Good hunting
Chris

if i dont get emotionally attached to a house i'm looking to live it, i would never buy.
if i was buying it as an investment, i would of walked away weeks ago. but i'm not looking for an investment property.
turns out im quite fussy. ive been looking for 2 years and only found 1 house i like.
i looked at 20 land rovers before i bought mine :p

i doubt sticking to 380k will get this house. they just wont sell. they have been sitting on it for 4 months. if they needed to get rid of it, they would have already.

a few people have reminded me the area im buying in is expensive.
a few people have said, if you like it, buy it. happiness doesn't have a price.
and i'm also told the price is soon forgotten.
and no house is perfect.


im also told getting into the market is more important.

[Xtreme]

If you're renting at the moment then the longer you delay buying your own place, the more it is costing you. Four years ago I assisted my daughter to buy a house at auction. She paid a bit more than the limit she had set herself for it but saved on rent at $500/wk for the following x months while she looked for another place that she liked, if she hadn't extended herself on the one she had already found & really liked. The value of the house has increased substatially (up 30% last year!) since purchase so purchase price is happily a thing of the past.

If you've already been looking for 2yrs are you prepared to wait another x years before getting into the market.

You can only kick tyres for so long but you don't begin to enjoy your new posession until you make the committment. Go for it - offer to meet them half way with an offer of $400k, which is what you uncle says it's worth.

[Eevo]

If you're renting at the moment then the longer you delay buying your own place, the more it is costing you. Four years ago I assisted my daughter to buy a house at auction. She paid a bit more than the limit she had set herself for it but saved on rent at $500/wk for the following x months while she looked for another place that she liked, if she hadn't extended herself on the one she had already found & really liked. The value of the house has increased substatially (up 30% last year!) since purchase so purchase price is happily a thing of the past.

If you've already been looking for 2yrs are you prepared to wait another x years before getting into the market.

You can only kick tyres for so long but you don't begin to enjoy your new posession until you make the committment. Go for it - offer to meet them half way with an offer of $400k, which is what you uncle says it's worth.

i dont see renting as costing me.
renting or owning, all your doing is paying for a roof over your head.

property value is different in adelaide. its not going up. Monthly Indices | CoreLogic RP Data (http://www.corelogic.com.au/research/monthly-indices.html)

a verbal offer for 415 was rejected this afternoon. they were told 420 and above thanks.

[Xtreme]

i dont see renting as costing me.
renting or owning, all your doing is paying for a roof over your head.

property value is different in adelaide. its not going up. Monthly Indices | CoreLogic RP Data (http://www.corelogic.com.au/research/monthly-indices.html)

a verbal offer for 415 was rejected this afternoon. they were told 420 and above thanks.

Better that your rent $'s go towards buying your own place instead of helping the landlord buy his. In my books that's more than paying for a roof over your head as you will eventually own the roof and then you no longer have to pay for it. :angel:

[Eevo]

Better that your rent $'s go towards buying your own place instead of helping the landlord buy his. In my books that's more than paying for a roof over your head as you will eventually own the roof and then you no longer have to pay for it. :angel:

Not when renting is half the price.
And when you own it, you will have paid th bank twice as much in interest.
Can't take it with you when you die

[trog]

Why not buy a place , this one you are looking at , or another , then rent it out for a few years. In the meantime rent a place at a lesser rate , and add whatever you can to the repayments. This can quickly knock a fair bit of the debt down. It is working for us.

[Eevo]

I just have zero interest in renting out a house.

[Xtreme]

I just have zero interest in renting out a house.
From some of your responses, it appears that you don't have too much interest in owning one at the moment either. :o :wasntme:

[Eevo]

From some of your responses, it appears that you don't have too much interest in owning one at the moment either. :o :wasntme:

im not about to be sucked into a rat race.
eg, buy now before prices go up
eg, house prices always go up
etc etc.

it might be different in melb and syd but i'm not buying there.

[cafe latte]

i dont see renting as costing me.
renting or owning, all your doing is paying for a roof over your head.

property value is different in adelaide. its not going up. Monthly Indices | CoreLogic RP Data (http://www.corelogic.com.au/research/monthly-indices.html)

a verbal offer for 415 was rejected this afternoon. they were told 420 and above thanks.

People play poker, I have had loads of offers refused that when I dug my heels in and walked away the offer was suddenly accepted..
Chris

[cafe latte]

i dont see renting as costing me.
renting or owning, all your doing is paying for a roof over your head.

property value is different in adelaide. its not going up. Monthly Indices | CoreLogic RP Data (http://www.corelogic.com.au/research/monthly-indices.html)

a verbal offer for 415 was rejected this afternoon. they were told 420 and above thanks.

People play poker, I have had loads of offers refused that when I dug my heels in and walked away the offer was suddenly accepted..Nobody who is serious is going to loose a house sale for 5 grand I would call their bluff if it was me..
Chris

[VladTepes]

No doubt coloured by the recent expenses I've incurred for underpinning following subsidence, when you said "the house had moved" my immediate reaction was....


run away ! run away !




Did any of the previous people who pulled out of the sale get a building inspection done? If possible see if you can get their details or have them contact you and get a copy off them. They might be happy to recoup some of the $ they spent on it that is no useless to them. I wouldn't be at all surprised if the result of such an inspection highlighted big $ required to fix.

[Eevo]

Did any of the previous people who pulled out of the sale get a building inspection done? If possible see if you can get their details or have them contact you and get a copy off them. They might be happy to recoup some of the $ they spent on it that is no useless to them. I wouldn't be at all surprised if the result of such an inspection highlighted big $ required to fix.

according to the agent (who you cant trust) it's been done twice and passed. agent said the contact failed to finance both times. i dont know if this is true or not.
they wont give me the people details due to privacy, which i understand.
i asked for the company who did the inspection, but they wouldn't give me that either.

im confident in my uncles assessment of 30k to fix. i'd prob get one of his sons to do the job.

[cafe latte]

No house is worth all this..
Chris

[DiscoMick]

I recommend you decide what you really want to pay for this house, after cutting $30k off for repairs, and offer that. Tell them it's your final offer and you'll walk away if its rejected.
If they say yes, you've done well.
If they say no, you've lost nothing.
There are many houses for sale. It's just a roof over your head. Don't get emotional about it.

[Eevo]

I caved and offered 420k subject to finance.
Not sure who will knock me back, the owner or the bank

[digger]

It's very common in SA.
Otherwise if the offer isn't accepted, you have wasted money on an inspection.
My parents when selling got one done and offered it during the open. House sold with one open.

I might ring up and ask for the inspection company name.

In none of the houses we have bought have they refused an inspection by lic builder etc.. That is very questionable. And if not brick or stone check out heavily for termites, the little bastards can only become visable because there's nothing left hidden to eat!

Bide your time, its likely fate will deal a better hand over time anyway whether it be with this house or another. Its exciting buts its the biggest spend you will ever make... do you want to think you naffed it because of a slight error.


... but also sounds like the agent may be a dick, we dealt with one guy who was dead set straight as a dye, he didn't bull and if he didn't know he said so... nothing better... sadly we couldn't get an agreement on that particular place but put some friends onto it and they bought it! They're very happy!


Hang in there mate

[Eevo]

still havent heard back from the agent.
almost a week and no communication.
house is now listed as under contract.

very disappointed with the agents conduct

[DiscoMick]

I caved and offered 420k subject to finance.
Not sure who will knock me back, the owner or the bank
Good luck with it.
I recommend, as I've said before, you go see a mortgage broker. You might be surprised at what is available and how much better a deal you can get than that offered by the big four banks.
For example, we are currently in the process of refinancing and expect to save about 1% or $7000 a year, which is not peanuts.
You can get pre-approved and then go shopping, knowing the finance is available.

[Eevo]

Good luck with it.
I recommend, as I've said before, you go see a mortgage broker. You might be surprised at what is available and how much better a deal you can get than that offered by the big four banks.
For example, we are currently in the process of refinancing and expect to save about 1% or $7000 a year, which is not peanuts.
You can get pre-approved and then go shopping, knowing the finance is available.
i saw a broker and was disappointed, just recommended the main 4
bank im going with isnt one of the main 4 and doesnt deal with brokers
ive got pre-approval for a lower amount

[DiscoMick]

Fair enough. Sounds like your broker didn't shop around much.
Our broker deals with about 20 banks, only one of them one of the big four.
For your information, he reckons the Bank of Queensland is doing the best deals at the moment. Macquarie Bank also generally good.
All the best with it. Don't rush - existing properties are overpriced compared with new house/land packages and it's a buyer's market.
Have you investigated the incentives from the state and federal governments for buying a newly-built property in your area as a first home buyer? - they can be surprising.

[Eevo]

so i followed up today with the agent.
someone else made a better offer with better conditions. i can accept that.

here's the part where my BS meter went off the scale.
the agent says her colleague called me last week and informed me of the above info.

i just said he didnt call, thats unprofessional and i left it at that.

[DiscoMick]

Never mind, plenty of houses for sale, a better one is waiting for you to find it.