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What to do about a terrible real estate agent


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#26 -Emissary-

Posted 12 August 2019 - 10:09 PM

View PostMollycoddle, on 12 August 2019 - 09:57 PM, said:

Only if you're willing to let it sit on the market for another untold number of months...

They might have been burnt in the past with sales falling through and don’t want to risk it.

The OP isn’t really taking on all the risks until settlement.

#27 MurderBritches

Posted 12 August 2019 - 10:12 PM

Not seeing how they can lose. You eant to definitely buy house subject to usual conditions so they will get their money. Tenant wants to break lease anyway so they can do that as soon as sale goes unconditional and vendor gets their money as you are wanting to buy the house.

What exactly is their issue?

#28 Ivy Ivy

Posted 12 August 2019 - 10:12 PM

I had a similar experience with a lazy real estate 1-man show agent who seemingly didn't ever do anything at all at work.  He didn't even make it into his office until lunchtime.  I'd chase him via his secretary and she'd just laugh when I tries to make a time to reach him - he was just never there at the office, always absent.  I was trying to buy the house, he wouldn't pass on messages or offers, take or return my calls, etc.

After a few months I just gave up on trying to go via him.  I went and knocked on the door of the owners house, told her he was impossible to communicate with or work via, and made my offer verbally to her, and left my written contact details.
She rang me a few months later and I bought the house from her.
I never involved the real estate agent.

He was her 2nd cousin or something.  He was amazingly useless - not just neutral, but negative.  I neither know or care if she paid him a commission.

#29 -Emissary-

Posted 12 August 2019 - 10:21 PM

View PostMurderBritches, on 12 August 2019 - 10:12 PM, said:

Not seeing how they can lose. You eant to definitely buy house subject to usual conditions so they will get their money. Tenant wants to break lease anyway so they can do that as soon as sale goes unconditional and vendor gets their money as you are wanting to buy the house.

What exactly is their issue?

It sounds like they’re very dependent on the rental income and can’t afford to let the tenant off early for fear of forfeiting any rental at all. They don’t know how long they’ll be without a rental income and might feel out of control of the situation.

I know it feels really short sighted as the OP may have offered a decent price but when you’re desperate and under financial pressure you don’t tend to analyse all the scenarios properly.

#30 Holidayromp

Posted 13 August 2019 - 08:01 AM

In this scenario vacant possession would be wise.

Who knows what state that house is in.  If they are so heavily reliant on the income to pay the mortgage then it would be right to assume that maintenance has fallen by the wayside.

The op also has no idea of his rental history and plus she is taking the property based on hearsay that he is willing to move and break lease.

This is one of the properties where it is easier just to walk away and find something else.

The current owners have their heads in the sand and are not being realistic at all and if you bide your time you could well get it as a mortgagee sale or even cheaper.

At the moment you are the only ones that hold all the cards.

#31 can'tstayaway

Posted 13 August 2019 - 08:07 AM

It doesn’t sound like a terrible real estate agent issue. It’s the owners and you who can’t come to an agreement.

You don’t want to budge on vacant possession. They don’t want to carry the risk of losing a tenant and having the deal fall through.

Are you able to offer a larger deposit and adjust the terms to help alleviate their concern?  If you pull out, they get to keep the deposit that is equivalent to the rent. If the deal goes through, the settlement amount is reduced by the deposit.

#32 Chchgirl

Posted 13 August 2019 - 09:07 AM

It sounds to me like partially the agent but mostly the vendors. I don't understand their problem,  vacant on possession and settlement won't affect them, they'll be out of the picture.

In reading the scenario it looks like if they're focused on this situation,  they're probably the reason the house hasn't sold. People have probably walked.

I had a similar situation in 2013 when I sold in sydney and was looking for a house on central coast nsw. I found a house I really liked and it was a similar situation with tenants. I ended up walk ij ng, plenty of houses and I found a better one anyway.

#33 Chchgirl

Posted 13 August 2019 - 09:08 AM

It sounds to me like partially the agent but mostly the vendors. I don't understand their problem,  vacant on possession and settlement won't affect them, they'll be out of the picture.

In reading the scenario it looks like if they're focused on this situation,  they're probably the reason the house hasn't sold. People have probably walked.

I had a similar situation in 2013 when I sold in sydney and was looking for a house on central coast nsw. I found a house I really liked and it was a similar situation with tenants. I ended up walk ij ng, plenty of houses and I found a better one anyway.

#34 born.a.girl

Posted 13 August 2019 - 09:12 AM

I'm a bit confused, some comments seem to imply vacant on sale/sale becoming unconditional.  Others talk about vacant on settlement.

If it's vacant on sale becoming unconditional, and the settlement is x weeks, then x weeks of rental income is foregone by the current owners, surely?

#35 Mollycoddle

Posted 13 August 2019 - 09:36 AM

View Post-Emissary-, on 12 August 2019 - 10:21 PM, said:

It sounds like they’re very dependent on the rental income and can’t afford to let the tenant off early for fear of forfeiting any rental at all. They don’t know how long they’ll be without a rental income and might feel out of control of the situation.


The OP has said that the rent they are getting is unlikely to even cover a mortgage so it seems they're running at a loss anyway.  I would have thought they would want a quick settlement if the place has been on the market a few times already without success.  If both parties agree on a quick settlement how much rent can they really lose anyway?

Edited by Mollycoddle, 13 August 2019 - 09:37 AM.


#36 born.a.girl

Posted 13 August 2019 - 09:39 AM

View PostMollycoddle, on 13 August 2019 - 09:36 AM, said:

The OP has said that the rent they are getting is unlikely to even cover a mortgage so it seems they're running at a loss anyway.  I would have thought they would want a quick settlement if the place has been on the market a few times already without success.  If both parties agree on a quick settlement how much rent can they really lose anyway?


It would certainly be useful to know those details, but I can understand why we don't have them.

Running at a loss is better than no income from it at all.  It might not cover the mortgage but if it covers half/most of it, then they only have to find the rest, not the whole lot.

It's probably one of those cases where the devil's in the detail, and if we knew the other side of the story, it might all make sense.

#37 Holidayromp

Posted 13 August 2019 - 10:46 AM

View Postborn.a.girl, on 13 August 2019 - 09:39 AM, said:




It would certainly be useful to know those details, but I can understand why we don't have them.

Running at a loss is better than no income from it at all.  It might not cover the mortgage but if it covers half/most of it, then they only have to find the rest, not the whole lot.

It's probably one of those cases where the devil's in the detail, and if we knew the other side of the story, it might all make sense.

And one I would firmly assign to the too hard basket.

There are plenty of other houses out there.

#38 Chchgirl

Posted 13 August 2019 - 11:10 AM

View PostHolidayromp, on 13 August 2019 - 10:46 AM, said:



And one I would firmly assign to the too hard basket.

There are plenty of other houses out there.

Yep, that's why I walked that time. Too much hassle!

#39 born.a.girl

Posted 13 August 2019 - 11:12 AM

View PostHolidayromp, on 13 August 2019 - 10:46 AM, said:

And one I would firmly assign to the too hard basket.

There are plenty of other houses out there.

Are there?  It's a high end house in a small town.


Chances are it's unique, and perfectly suited to their purposes.


The types of small towns I've lived in often only have a couple of high end houses.

#40 overlytired

Posted 13 August 2019 - 11:16 AM

It sounds like everyone wants the same goal, but none of the parties trust the others (understandable).

Would it be possible to draw up a contract that ties the vendor to the sale, ensures OP doesn't back out, and guarantees the tenant will be out on X date (signed by all three parties of course)?

#41 Chchgirl

Posted 13 August 2019 - 11:18 AM

View Postborn.a.girl, on 13 August 2019 - 11:12 AM, said:



Are there?  It's a high end house in a small town.


Chances are it's unique, and perfectly suited to their purposes.


The types of small towns I've lived in often only have a couple of high end houses.

True, I never thought about it that way :)

#42 AmazonBabe

Posted 13 August 2019 - 12:05 PM

I would have thought something like this might work:

1. Contract of sale signed by 1 September, conditional upon building inspection, pest inspection, any other inspection, finance approval all being done by 1 October, and conditional upon following conditions of vacant possession and Notice to Vacate.
2. If all that done by 1 October, vendor is required to give tenants Notice to Vacate on 120 days notice (Vendor is required under Contract of Sale to negotiate with tenants if required to terminate lease earlier than end of lease term).
3. Vendor is required to provide, under Contract of Sale, copy of the Notice to Vacate to the Purchaser upon provision of such Notice (including Terms) to the Tenant;
4. Settlement date is to be 135 days from 1 October; or such earlier date as agreed in writing between the Vendor and the Purchaser; subject to vacant possession (and such other conditions as agreed between Vendor and Purchaser).
5. In the event that the Vendor and the Tenant are unable to negotiate commercially acceptable terms of termination of lease, and such terms are communicated to the Purchaser who agrees they are not commercially acceptable, the Vendor and the Purchaser may agree to extend the settlement date until the end of the tenancy; however the Purchaser retains the right to terminate the Contract of Sale in these circumstances.

Maybe this might work.  Get a good lawyer.

DISCLAIMER: THIS IS NOT A SUBSTITUTE FOR INDEPENDENT LEGAL ADVICE. GET YOUR OWN INDEPENDENT LEGAL ADVICE PERTAINING TO YOUR OWN SITUATION.

#43 Holidayromp

Posted 13 August 2019 - 02:04 PM

View Postborn.a.girl, on 13 August 2019 - 11:12 AM, said:



Are there?  It's a high end house in a small town.


Chances are it's unique, and perfectly suited to their purposes.


The types of small towns I've lived in often only have a couple of high end houses.

It’s really only a phrase.

At end of the day it comes down to how invested the op in this house.

But it could be risky as it has been on the market for awhile,  a tenant currently in place you only are going off what you have been told, the owners could potentially be in financial distress which means they are holding out for better offers or trapped because they need the tenant.

Either which way it sounds complicated and something not to get involved in.

#44 Romeo Void

Posted 13 August 2019 - 02:54 PM

Perhaps the agent is putting in little effort because the sellers are dicking him around so much he can't be bothered?

#45 Gonzy

Posted 13 August 2019 - 03:12 PM

It's also worth adding that no one knows if the rent covers the current OWNERS mortgage - it may not cover the mortgage the OP is going to end up with but no one can make assumptions about the owners mortgage.  For all we know the rent they receive is entirely play money.

#46 born.a.girl

Posted 13 August 2019 - 03:34 PM

View PostGonzy, on 13 August 2019 - 03:12 PM, said:

It's also worth adding that no one knows if the rent covers the current OWNERS mortgage - it may not cover the mortgage the OP is going to end up with but no one can make assumptions about the owners mortgage.  For all we know the rent they receive is entirely play money.

You could be right.  I read that as the rent would not cover a  typical mortgage on a house like that.  Or, as they 'know someone who knows someone' may have heard that the owners are oop each month.

Having re-read it I can see that it might mean the OP would not have their own mortgage covered by the rent if the tenant stayed till the end of the lease.

#47 PrincessPeach

Posted 13 August 2019 - 03:54 PM

Amazonbabes suggestions is awesome.

I know when we bought our first house we had a 7 day condition on pest & building, then a 14 day condition on finance as the bank told us it was impossible to do everything in 7 days - im in qld as well.

#48 maryanneK

Posted 13 August 2019 - 05:37 PM

If you think it will be easy to get finance, why don't you do it? As the vendor I would be nervous that the you are asking the tenant to leave, but sale is still conditional on building and finance so you could easily pull out?
Why don't you get the building report done, get your finance approved, then make an unconditional offer with 30 day settlement? That way the vendor can give the tenants 30 days notice and be confident they won't be left with no tenants and no sale.

#49 IamtheMumma

Posted 13 August 2019 - 06:01 PM

I'm wondering if this is a house I rented in the middle of whoop whoop. House is priced at 250K and has been on the market for 5 years I think.

#50 iwanttosleepin

Posted 13 August 2019 - 06:52 PM

I wish there was plenty of houses out there.  there is nothing available in the area that suits our needs at all.  We need a big house and this is one of only 2 houses in the suburb with more than 3 bedrooms.  the other house is a maintenance nightmare.

We've decided to do the building inspection this week and the building approvals/inspection search as well.  then we can at least give the owners a firm offer and they can feel more confident that it will proceed.  We do want it to proceed but we need that vacant tenancy at settlement.

At the moment they want us to offer a firm price, before any inspections (so we take that huge risk) and they won't even make any commitment to letting the tenant leave.  There could be some issues around building approvals.

Yes - they are in a bad financial situation.  the rent won't cover the mortgage and sadly for them neither will the sale price. I know what other people have offered for the house and our offer is generous given all the circumstances.   Our area has been hit hard with declining house prices over an extended period of time.  There is only 1 other house that has sold in this price bracket in the last 12 months.  and only about 3 in over 2 years.




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