Buyer's Advocate: your experiences

badwolfpart2 on 21/01/2016 - 15:16

Hey everyone,

My partner and I are in the property market to purchase a family home for us, and we've recently brought in a Buyer's Advocate as we wanted to take some pressure off negotiations (he can be very confrontative and I'm the opposite, I point out all the issues which can come across as not very polite…)

I was hoping people can share their experience of using a Buyer's Advocate as well as real estate negotiation with a REA. What's worked for you? Is there something I should definitely not do, or definitely do?

I'm a bit suspicious of our Buyer's Advocate as they recently advised us to get a "wholly unconditional" mortgage approval so she didn't have to add a "subject to finance" clause on our offer, which I disagree with completely (if a bank doesn't value a property high, why should I?)

Opinions?

Home & Garden

Comments

  • godofpizza on 21/01/2016 - 16:02

    how much do they charge?

    • badwolfpart2 on 21/01/2016 - 16:03

      $1100 to retain them and $2200 after purchase.

  • RandomNinja on 21/01/2016 - 18:13

    Does a wholly unconditional mortgage approval mean to make sure you are pre-approved for a certain $ amount? I can see how she wouldn't want to go through all the negotiating only for the deal to fall apart if you don't have sufficient funds.

    • badwolfpart2 on 22/01/2016 - 09:37

      I'm not sure what it means in her mind exactly. I always assumed you can get pre-approved for a certain amount (we're asking for less than the max amount the bank would give us so we're safe) but I always thought the bank needs to do final approval based on a property and their own valuation?

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