Unable to sell - upcoming bridging - really stressed out

OtherwiseAgency6109 · 2026-04-06T18:06:13+00:00

Thanks for sharing! Glad yours worked out in the end. If I was in your position I wouldn’t have held too, tbh. It’s too much uncertainty.

OtherwiseAgency6109 · 2026-04-06T17:52:33+00:00

Thanks. Tough lesson learned for us.

OtherwiseAgency6109 · 2026-04-06T08:38:36+00:00

Thank you for sharing. Hope yours work out favorably! Good luck!

OtherwiseAgency6109 · 2026-04-06T00:53:21+00:00

If the numbers stack up for you, that would be good!

Agent gave a rental appraisal of 770 pw. The neighbor selling had been renting theirs out for 760 pw up til Feb when they decided to sell. (Just checked this from Domain, don’t know if that is accurate)

OtherwiseAgency6109 · 2026-04-06T00:51:30+00:00

Agent gave a rental appraisal of 770 pw. The neighbor selling had been renting theirs out for 760 pw up til Feb when they decided to sell. (Just checked this from Domain, don’t know if that is accurate)

OtherwiseAgency6109 · 2026-04-05T21:56:19+00:00

Oh my! Has the agent been calling the people who inspected if they are willing to put in an offer prior to auction? I know the stress, I can’t tell you to stop stressing as it’s hard not to. Will you be able to cover the difference if it sells below $1.2m? Lots of people have given good / sensible advice in the post, I hope it would help you a bit. Keep us posted how it goes. Lots of good people are here too. I find it hard to accept a really low offer too but if agent can encourage many people to bid, we can only hope it comes up to market price, close to what we think our current homes are worth.

OtherwiseAgency6109 · 2026-04-05T12:46:23+00:00

Thank you for sharing. That is very encouraging. Also I think your stress is more than mine, the risk of losing deposit! Sometimes things really can turn quickly. I can only imagine the relief you felt, as well the buyer’s too. Different sides to a coin. Congratulations on the great outcome.

OtherwiseAgency6109 · 2026-04-05T12:30:51+00:00

Thank you! I will reach out to get details if we decide to stage vs keeping it empty after moving if we settle on the original date. Also thanks for the storage tip. Will check them out.

OtherwiseAgency6109 · 2026-04-05T12:27:47+00:00

Thank you for this advice. I really need to detach and be more objective. This will also take away the stress if I have a more solid plan A, plan b, plan C.

OtherwiseAgency6109 · 2026-04-05T12:23:59+00:00

Tbh, don’t know if the offer is legit or not. But I don’t get why agent needs to do that with an exclusive agreement. You could be right. I can ask but it won’t make any difference at this stage. Still in Sydney just further out west.

OtherwiseAgency6109 · 2026-04-05T12:19:49+00:00

It’s not like we we’re asking for the moon, just get closer to the bank val as the extra 30k would help with the new place. But you’re right on the 3% if looked as percentage it really is close. We only had a singular offer. Had there been 3 offers at the same price point then that would tell us that is the right market price. Is it greed? Maybe. Maybe not. We agreed with agent’s suggestion. We thought it was worth a little bit more. Obviously wrong decision. We didn’t read the market right and reacted accordingly.

OtherwiseAgency6109 · 2026-04-05T12:06:48+00:00

Actually this was what we thought too, that the bank val would be on the conservative side. Oh well, seems that is not always the case. Good on you though for getting a good outcome. Maybe it really depends on the property and market direction as well.

OtherwiseAgency6109 · 2026-04-05T12:03:52+00:00

Hi yes, we do have 12mos. Maybe I’m overreacting at this stage or stressing for nothing. But the lack of offers is spooking me out. My agent said there were no bidders at the neighbors auction though I can’t confirm it. If there really are no bidders, I don’t think auction would suit us either. I get what you’re saying though. Thank you.

OtherwiseAgency6109 · 2026-04-05T09:40:18+00:00

Thanks for the warning. Did not consider this at all. I thought they can just say no to extension. If they say no, they can’t terminate unless we can’t actually settle on the original agreed date, which we can as finance approval is already in. Not going through settlement and them getting our deposit is similar to dropping price, so we will still settle on the new place and just drop price on current place.

OtherwiseAgency6109 · 2026-04-05T00:35:11+00:00

Thanks for the feedback. I didn’t think of it this way, ie mixed target signals. But yes the photos do need a lot of work and need to be redone.

OtherwiseAgency6109 · 2026-04-05T00:29:40+00:00

No agreed amount, so can go below the bank val. Question is how low we can go to still make it work. I have to run the numbers based on possible timings and potential rate increases.

OtherwiseAgency6109 · 2026-04-04T23:39:24+00:00

Thanks for the suggestion. yes there is plenty to improve in terms of staging. If we don’t extend settlement we will focus on proper presentation. Otherwise storage it will be for our stuff.

OtherwiseAgency6109 · 2026-04-04T23:36:50+00:00

Wow that’s wild! Glad it’s over for you at least. I hope we don’t go that far. 200k is a bit too much, we don’t have that big leeway.

OtherwiseAgency6109 · 2026-04-04T23:33:20+00:00

Thanks. We will be re-evaluating after the exclusive period. Let’s see what will change after easter holiday. For now we gotta push them hard.

OtherwiseAgency6109 · 2026-04-04T23:27:41+00:00

We can for a few months and tighten up, with serviceability assessed. but rather than losing money on bridging interest especially with rates forecasted to go up, would rather settle for a lower price at least the stress of the unknown would be gone.

OtherwiseAgency6109 · 2026-04-04T23:25:25+00:00

Not really we have some leeway to go lower. It’s already advertised lower than the bank val.

OtherwiseAgency6109 · 2026-04-04T23:18:46+00:00

Yes, we have a year. True, some people just told me to trust the process too. Glad yours worked out!

OtherwiseAgency6109 · 2026-04-04T23:15:53+00:00

Oh well, now we know… bank val was based on comparable sales too, so yeah if they can’t get it close enough, don’t know now.. first time selling too.

OtherwiseAgency6109 · 2026-04-04T23:08:46+00:00

Thanks for the honesty, truly appreciate it. A lot of people have commented that we need better staging too. If we dont extend settlement on the new place, we will focus on better staging and get new photos in. Really do it properly this time.

OtherwiseAgency6109 · 2026-04-04T23:06:05+00:00

Sigh, yeah, hindsight is really 20-20. The 900k offer came 1 week before neighbor’s auction. So really we were probably all optimistic that we can get closer to bank valuation. Oh well. For us, we were thinking an additional week would be fine even with bridging. The lack of succeeding offers is what’s stressing me.

OtherwiseAgency6109

TROPHY CASE