{"id":24584,"date":"2020-04-11T09:47:13","date_gmt":"2020-04-10T21:47:13","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=24584"},"modified":"2020-04-11T09:47:19","modified_gmt":"2020-04-10T21:47:19","slug":"received-a-low-ball-covid-19-offer","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/received-a-low-ball-covid-19-offer\/","title":{"rendered":"Received A Low-Ball COVID-19 Offer?"},"content":{"rendered":"\n

PHOTO: COVID-19<\/strong><\/p>\n\n\n\n

Almost all of us have been impacted financially by the COVID-19 pandemic. Personally, I\u2019ve been impacted on a number of fronts \u2013 but perhaps the hardest one has been my property sale.<\/p>\n\n\n\n

This home is listed for sale for $875,000.<\/p>\n\n\n\n

Today, my real estate agent reluctantly forwarded an offer:<\/p>\n\n\n\n

\u201cAs the market is clearly on the way down, we would like to make an offer $675k for this property subject to building inspect. Finance 14 days. $10k deposit cash.\u201d<\/em><\/p>\n\n\n\n

I\u2019ve been a property journalist for almost 15 years, so I\u2019m not surprised by this low-ball tactic. But I am disappointed that there are bottom feeders in the market already, seeking to profit off of our collective pain and misery.<\/p>\n\n\n\n

\"rental<\/a><\/figure>\n\n\n\n

How 17,000 Australians plan to stop paying rent THIS MONTH \u2013 and there\u2019s nothing landlords can do about it<\/a><\/h2>\n\n\n\n

It\u2019s obvious that this buyer has taken the scattergun approach: he\u2019s messaging dozens, perhaps hundreds of property sellers and making skeezy low-ball offers of 25% or more below asking price.<\/p>\n\n\n\n

The thing is, the buyer clearly hasn\u2019t done his research. We\u2019re not quite at \u201cpandemic pricing\u201d yet\u2026<\/p>\n\n\n\n

1. \u201cThe market is clearly on the way down\u201d<\/strong><\/p>\n\n\n\n

Is it? We\u2019re at the very beginning of this pandemic, and the only thing that is clear right now is that everyone has left the market \u2013 buyers and sellers alike. Demand has fallen, but so has supply. Where buyers are forced to sell, they may be inclined to accept a low-ball offer. But overall, the fundamentals for Australian property are solid. As property analyst John Lindeman confirms<\/a>, \u201cleading indicators suggest that property prices will continue to rise in our major capital cities despite the pandemic, and that they could rise strongly once the coronavirus has<\/p>\n\n\n\n

READ MORE VIA YOUR PROPERTY INVESTMENT MAG<\/a><\/p>\n\n\n\n

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