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Starting to cool a little here. Interest rates starting to creep up, fuel and other prices trending up, general uneasiness because of the floods here and the war in Europe.
But you are fortunate to have those cheaper choices over there. That house in outer Sydney would cost around $US1 million and would probably be swarmed with people inspecting it.
If this home is actually that much of a "steal" for the list price, I hope nobody thinks they are actually going to get it at that price.
Exactly. The house will still sell at market rate regardless of the listing price. I'll bet most showed up thinking they were the only ones bidding and were going to get it at a discount.
Like...if I don't like it when I actually get in there and see it, the deal is off? That doesn't seem fair to other buyers; it's like putting a property on "hold."
Like...if I don't like it when I actually get in there and see it, the deal is off? That doesn't seem fair to other buyers; it's like putting a property on "hold."
Not if it's a contingency written into the contract (like pending sale of house or dependent on a favorable home inspection); you get your earnest money back. But you wouldn't think they'd be allowed to do that with an "unless I change my mind when I view it." Not fair to other potential buyers.
Not if it's a contingency written into the contract (like pending sale of house or dependent on a favorable home inspection); you get your earnest money back. But you wouldn't think they'd be allowed to do that with an "unless I change my mind when I view it." Not fair to other potential buyers.
Maybe a realtor can chime in here...
Some markets have a non-refundable due diligence deposit/fee.
Not if it's a contingency written into the contract (like pending sale of house or dependent on a favorable home inspection); you get your earnest money back. But you wouldn't think they'd be allowed to do that with an "unless I change my mind when I view it." Not fair to other potential buyers.
Maybe a realtor can chime in here...
It is in NC. We have non-refundable DD Fees on almost all transactions, and I betcha a nickel this one is no exception.
Quote:
Originally Posted by AnnaGWS
Some markets have non-refundable due diligence fees.
Right. I would expect the successful buyer will have at least $10,000 non-refundable in the deal.
Maybe $20,000.
I have heard of the DD Fee being equal to the contract price on a $300,000 contract.
It is in NC. We have non-refundable DD Fees on almost all transactions, and I betcha a nickel this one is no exception.
Right. I would expect the successful buyer will have at least $10,000 non-refundable in the deal.
Maybe $20,000.
I have heard of the DD Fee being equal to the contract price on a $300,000 contract.
Yikes!
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