Making an Offer

/Making an Offer
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What do I need to know about building, pest and pool inspections?

We cover everything you need to know about that in 13 FAQs About Building, Pest and Pool Inspections.  

What are the hidden costs of buying property?

Get the details in our costs of buying property blog post.

How do I know what conditions to include in the contract?

When making an offer on a property the conditions or clauses need to be based on both your personal circumstances, such as finance, and property-specific circumstances like location. Find out more in our video and blog post The Two Major Contract Clause Considerations for Making an Offer on a Property.

What happens if I make an offer on a property and then change my mind?

Once you’ve made an offer on a property it can be revoked if the seller hasn’t signed the contract yet. Find out more in our video and blog post 3 Ways to Revoke an Offer on a Property.

What are the key stages when making an offer?

There are four key stages when making an offer on a property: deciding on your conditions, putting your offer in writing, considering counter offers and, if everything goes well, having your offer accepted. Find out more in our video and blog post 4 Key Stages to Making an Offer on a Property.

How do I make an offer to purchase?

To make an offer you need to sign a contract and write onto that contract the price you want to pay and the terms and conditions (finance clause, deposit amount, date of settlement etc). A verbal offer is not legally binding with an agent or seller and may only be useful in negotiating a price [...]

I need to get finance. Can I cancel my agreement to purchase without losing my deposit if I don’t get finance and how long should I ask for to get finance?

If you haven't already read it see our Buying Property Subject to Finance? Your Rights and Obligations blog post. If you need to obtain a loan to buy the house then you must place a finance clause on the contract. REIQ and ADL contracts both have special areas to write in a finance clause and each [...]

I want a building and pest inspector to check the house. Can I cancel my agreement to purchase if there are problems?

This is a great idea on any property purchase with a house or unit (as opposed to vacant land). Like the finance clause you will need to ensure the contract has a clause that allows you to terminate should the inspection report be unsatisfactory. If the report finds structural defects or active termites or extensive [...]

Do I need other clauses to protect me?

This will depend on your situation. The best practice is to contact us to discuss your situation so we can ensure the contract has all the necessary clauses to protect your interest. Possible clauses you may need can include making the contract to buy conditional on your current home selling, being satisfied with the search [...]

How much deposit do I have to pay and who to?

Technically speaking you can make an offer without any deposit. However, in a number of cases the seller will not accept the offer as another buyer may provide a large deposit giving the seller comfort they are more serious. Generally an agent will request a certain amount around 5% of the purchase price, sometimes higher [...]