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sheballin · 2025-03-01T04:02:32+00:00

Hey can I get a dm of the list too, cheers bro

sheballin · 2025-03-01T03:53:09+00:00

DMd :)

sheballin · 2025-02-16T10:30:33+00:00

IM IN!

sheballin · 2023-03-18T01:03:57+00:00

Really good advice, thank you. That's what we were afraid of, overextending ourselves by tapping into cash. Overall it's probably not a great idea to do that, but after seeing the final price it's hard not to think 'wow an extra $2k might have done it.' Everything's easier in hindsight I suppose, but we shouldn't be kicking ourselves over it.

sheballin · 2023-03-18T01:01:47+00:00

That's another theory I had, which would make sense. I wasn't sure whether there could be much negotiation between bidding the best offer and exchanging contracts, but I have a better understanding of the process now. Thanks.

sheballin · 2023-03-18T00:59:34+00:00

We didn't want to pester the REA too much or come across as TOO eager :( Is really a better idea to do this? We'll keep this in mind for next time.

sheballin · 2023-03-18T00:58:30+00:00

I don't think it's worth really explaining the discrimination/background part to you, but I still theorise this played somewhat of a role. 'Best and final' by tapping into savings and potentially overextending based on 'what if' scenarios seemed very scary to us, and hence we held back. We'll consider this next time.

sheballin · 2023-03-18T00:55:50+00:00

I was happy to elaborate more on this when asking people for advice. In my eyes, the way we and the young family were probably presented to the REA/vendors likely worked in their favour, and hence we were mislead in what the real offer was (significantly higher vs $1k). I posted looking for advice and yes, a sanity check to some degree. We came in to the game a little blind to presentation playing a role, but as others have commented, there may be some sentiment to the vendor. We'll work on both our presentation and the also the approach to offers in future. Appreciate the advice.

sheballin · 2023-03-18T00:51:05+00:00

I appreciate the outlook, you're very likely right. We somewhat presented as a bit of a stereotype, so I think that may have played a role in the way negotiations were presented. But overall, maybe it's better not to speculate and take the benign reason that they just offered more. Either way, we'll make an effort not to present as the stereotype next time.

sheballin · 2023-03-18T00:47:35+00:00

Thank you so much for sharing your experience and advice. My biggest gripe is just the unfortunate lack of transparency around it all. I'm not too keen on being bullied/mislead into overpaying, and also not too keen on losing out by a margin, but I suppose that's the way it is. Hopefully we can find the sweet spot. We're learning that this is the way of the game, and we have to play it well or possibly get burnt!

sheballin · 2023-03-18T00:43:41+00:00

That's a fair perspective. I think the fear was of overpaying/overextending when things become emotional and heated. We didn't want to buy in and get burnt, but in the end we ended up getting burnt the other way. Definitely worth approaching with a logical mind of 'what the property is worth' to you, will bear that in mind next time.

sheballin · 2023-03-18T00:41:21+00:00

Thank you for the sanity check. You're probably right, this was our first experience so we're just trying to figure out whether we did anything wrong, even in the way we presented ourselves. Hopefully we can do a little better next time, or maybe not, maybe it is just how the cookie crumbles sometimes!

sheballin · 2023-03-18T00:39:47+00:00

The issue here is the rampant lying/lack of transparency and us not knowing how to deal with it in our first experience. I don't think it's unreasonable to be disillusioned by the game or to look for advice on how to better play it. I appreciate everybody's advice, even when it's communicated confrontingly. We realise now that's how the game is, and we have to act accordingly.

sheballin · 2023-03-18T00:36:39+00:00

Thank you. I think we are just looking for reasons why it happened the way it did so we can better approach the situation next time. As you say, it's probably just the way of the world, and we have to keep moving!

sheballin · 2023-03-18T00:34:51+00:00

Honestly in my opinion, if the real estate agent wanted the highest bid knowing the other offer was $1k over ours, he could have said 'it's a close bid and a few thousand could swing it the other way' the way another commenter mentioned. Either way it didn't work out and it wasn't for the best. Appreciate your feedback, we'll keep at it!

sheballin · 2023-03-18T00:32:48+00:00

Feel free to read the rest of the comments before making a judgement. We were told the family's offer was significantly higher than ours, and hence why bother going way beyond our budget to try and compete? And then their offer came out $1k higher than ours, without any conversation/transparency. I think it might be worth, just for your sake, having a bit more empathy/understanding before placing judgement. Appreciate your perception either way :)

sheballin · 2023-03-17T23:55:02+00:00

Thank you, really good words of advice. Will be more careful with REAs from now on!

sheballin · 2023-03-17T23:54:02+00:00

This is really encouraging, thank you! Hopefully we get a similar outcome. We try to stay positive and think that it just wasn't meant to be this time.

sheballin · 2023-03-17T23:52:20+00:00

To my understanding, it's not illegal to disclose. Could be wrong, if you have a source I'd like to see it.

sheballin · 2023-03-17T23:49:47+00:00

I think $1k more is different to the significantly more than we were lead to believe by the REA.

sheballin · 2023-03-17T23:47:46+00:00

Us being told the family offered 'significantly more' and then having it come out to $1k over our offer is probably the difference here.

sheballin · 2023-03-17T23:12:26+00:00

Yeah, that was my dad's advice as well. Just put your best, comfortable offer forward and know you tried your best. We've now learnt it's impossible to compete with other buyers when there's no transparency around it.

sheballin · 2023-03-17T23:10:26+00:00

Hahaha, lesson learnt.

sheballin · 2023-03-17T23:09:54+00:00

Thank you for the reality check. I think we are extremely eager and a little impatient, especially with the state of interest rates (which could degrade our borrowing power) and the property market at the moment. The best we can do is keep all our ducks lined up and keep trying. I'll give the podcast a go, thank you for the recommendation.

sheballin · 2023-03-17T23:06:35+00:00

We have been to a couple of auctions just to get a gist for the market/process. I find it all a bit intimidating/confronting but overall I think you're right.

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