Tips on making an offer on a property

May 20, 2014
Jenika Clifford

You are ready to jump into the property market and eager to put an offer on a house but don’t know where to start.


Before making an offer

Research – Know the area you are want to buy in, lookup recent sold properties in the area to get an understanding of the market you are buying in.

Limit – Know your purchase limit, best to discuss this with your broker prior to offer.

Rules – You should always put your offer in writing, this will eliminate any confusion and ensure you it actually gets to the seller. This avoids Agent pre-qualifying your offer.

Advice – You are encouraged to have your written contractual offer perused by a solicitor before signing. This will assist in understanding YOUR obligations under the contract.

Relationship – You will be dealing closely with the agent; build a good relationship with the agent, be honest and let them know you are genuine

Valuation – You can pay for a valuation prior to making an offer if you are unsure how much the property is actually worth. This is very common for Private Treaty purchases (ie Family / Relative)

Deposit – If your offer is accepted you will need to provide a deposit within 48hrs. You can use this deposit to your advantage in negotiating a better price. Vendors are generally more enthusiastic about offers with significant deposit, and shorter Finance Terms.


Be ahead of the game and arrange for a pre-approval, this will give you a better advantage to secure the property you want quicker. Pre-approvals usually last 90days and gives you confidence of knowing how much you can spend.


Give Mortgage Choice in Bundall a call today on (07) 5504 5569 or email at . Like our facebook or google+ pages for daily information:  

Watch for our blog later this week on tips for purchasing at Auction.

Posted in: First home buyers

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