desperatehousewife

Just wondered if there was any equivalent in Australia to notes of interest in Scotland, where you can submit a note of interest on a property and then the vendor can't agree a sale until they've notified you of their intentions?

Would submitting an expression of interest give you the same right?

asprilla

No, I don't think there is anything similar here.

However, simply dropping a note in the vendor's letterbox would have exactly the same effect.

Think about it... Lets say you've got your house on the market, and one day you find a note saying that someone is interested in your property, please don't sell it until you've given them an opportunity....what are you gonna do? Of course you will contact them after someone else puts in an offer- to try and play them off against each other and increase the price.

Petals

You could drop a note providing they do not have a selling agent with whom they have signed an agreement to sell their property.

If an agreement is in place does not matter how the property is sold the agent is entitled to his/her commission therefore I would recommend contact the agent not the vendor.

desperatehousewife

thats true

asprilla

Yes, depending on what agreement is in place, the agent should receive some of the proceeds of the sale. But they don't always.

There is no law saying that you shouldn't contact a seller directly. The seller might simply refer you to their agent, or they might not. But at least if you drop a note in directly, you can be 100% certain that the seller will read it.

desperatehousewife

is an expression of interest not the same thing then?

copa

be wary of possible anti-gazumping laws if you're gonna play this game ..

Dorothy

No. If my house were up for sale and I got a handwritten note in my letterbox saying someone was interested I would think "fine, contact my agent". If someone else puts in an offer in the meantime before the person who put the note in my letterbox contacts my agent then I'm not going to go out of my way to contact them. If they were that serious about buying my property they would contact the agent and make an offer.

desperatehousewife

Think maybe theres some misunderstanding here - in Scotland we can submit a Note of Interest in a property, this is done via solicitors and gives an interested party the right to be notified should a closing date for offers be set it also means the vendor would be legally obliged to inform you if they were going to accept an offer.....it isn't simply a handwritten note.....thats why I wondered if expressions of interest gave you the same legal rights?

Dorothy

I don't think we have the same thing here. At least not in WA we don't. Here if a person is interested in a property they are expected to contact the agent to put in an offer on the property. Once the offer is accepted it is binding on both parties.

desperatehousewife

Thanks Dorothy, agent knows we're interested, just stuck in limbo waiting to tie things up in the UK, thats why something like a note of interest would have been good as not in a position to offer yet

Dorothy

We were in a similar situation about 2 years ago. We were really interested in a house here in WA but we didn't have the $$ for a deposit. The house ended up selling before we got a chance to put in an offer, but we looked at it as a case of it wasn't meant to be. In the end we built a house and I'm much happier in the new place than we would have been in the one we were looking to buy. Fingers crossed that it works out for you.

desperatehousewife

Exactly the same situation as us.....i know your right, what will be will be, just have a really good gut feel about this place......

asprilla

Don't worry - there will be better places just around the corner, i'm sure.

How many houses have you looked at so far?

desperatehousewife

I know....have only looked at a few...just I'm very impulsive by nature and instinct told me this house was the one, also its really unusual to find a house with a layout really suited to a large family....just a shame that I doubt the bank manager would agree....