Making an offer

Making an offer for ‘the’ property is nerve-wracking stuff, but it pays to play it cool. See our tips below to securing your ideal home at your ideal price!

Tips on making an offer

1

Don't appear overly enthusiastic

If the property ticks all the boxes, play down how much you like it for extra bargaining power.

2

Arrange a pre-purchase pest and building inspection

This will cost upwards of around $500, but it is an essential investment. It could save you thousands of dollars in unexpected repair costs. Only use the defects as a negotiating tool if you can genuinely afford to rectify the problems.

3

Obtain a copy of the contract of sale

Arrange for your solicitor/conveyancer to check the contract carefully. You are bound by the contract once you sign it.

4

Ready to make an offer?

Pitch your first offer below the price you're actually prepared to pay. Submit your offer in writing, specifying how much you are willing to pay and include any conditions you would like to be noted such as a timeframe for moving in.

5

Secure your purchase

Once you and the vendor have agreed on a price, you need to pay a deposit and sign the contract. Until this happens the vendor can accept a higher offer from someone else.

6

Congratulations - your offer's been accepted!

Now it's time to exchange contracts, get unconditional approval on your home loan and settle the property purchase.

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Sample property offer letter

This letter is a general guide only and the actual wording should be determined by your individual circumstances.

 

Dear {Real Estate Agent}

Further to our inspection yesterday and review of the contract we would like to place a formal offer of AUD $$$$ for the vendor's consideration on {property address}.

This offer is subject to:

1. legal review of the contract and strata report; and

2. property valuation.

As we are in a position to move quickly, we are also happy to discuss earlier settlement timelines with the vendor.

Should you have any queries or feedback please contact me on ph {xxxxx} or email {xxxxxx}.

 

Regards,

{Name}

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