How do we make an offer?
How do we make an offer?
There are many ways to make an offer on a property but the below steps are my recommendations for a quick & smooth process.
1.
Provide a copy of the contract of sale to your solicitor/ conveyancer of choose foe them to review and provide feedback on the contract.
2.
3.
Email the agent with your offer price & any conditions of your offer. Conditions might include a cooling off period to secure your finance, Strata Reports, Building & Pest Reports or any other due diligence.
The agent will then start the negotiation process with you until there has been an agreeance between you as the buyer & the vendor.
4. See the next page for some things to consider/ know prior to making you offer....
The offer will then be accepted and passed on the conveyancers to faciliate exchange.
WHAT TO KNOW BEFORE AUCTION:
Bidder Registration at Auction
Be mindful that if you wish to participate in bidding at an auction for residential property, you have to register.
This maybe possible prior to or on Auction day Just check with the agent
Auction Sales
Be mindful no cooling off periods apply when a property is sold under auction conditions If the hammer goes down, it is an unconditional sale Therefore, be sure you do your due diligence prior.
Will the owner sell before Auction day?
The owner has all intention to sell at auction, but you will have to convince them to sell prior. Be mindful that you will have to provide a contract to execute with no cooling off period, as per auction conditions should a sale prior to auction is agreed.
WHAT TO KNOW ABOUT PRIVATE TREATY:
What does Private Treaty mean?
“Private Treaty” is the legal term used when describing the traditional ‘For Sale’ method.
Have you got your finances organised?
It is advisable to have your finances looked into at the early stages of your buying searching. Perhaps speak to your current bank, shop around with others or speak to a good finance broker.
Have you obtained a copy of the contract of sale?
This document will have all the proposed terms and conditions of the sale and will also give you details of the property like the title search, sewer diagram, lot diagram/strata plan & the zoning certificate Besides reading through it yourself, you could get your solicitor or conveyancer to review it for you as well
Have you selected a Conveyancer or Solicitor?
It is wise to have one selected prior to your purchase, so you can hit the ground running once you find the property you want Perhaps ask people who have recently bought/sold for their recommendations. Also, the agent will no doubt have some suggested companies to consider
