Where to Start Making an Offer on a Property

Thought you might be interested in an article Where to Start Making an Offer on a Property and thought I’d share a few points with you here. I’ve found some relevant information here so if I find more, I’ll be sure to pass it on.

Making an offer on a property is similar to playing a game of chess – each party waiting to see what move the other party is going to make.

What is the process? - The process of making an offer on a property can vary from state to state. For some areas, the first offer can be verbal, for others it is written. Make sure you’re across the rules and how the process works before you start. It’s often best to make the offer in writing – this eliminates any confusion concerning what the offer and conditions were.

Should I get a valuation? - It can be a good idea to get a registered valuation on the property. Although this is generally done as part of the loan process, your negotiations would have already taken place. If you want to get your offer on the table, you can always add a condition that it is subject to a valuation. However, the vendor might not accept this condition and you might miss out on the property.

Do your research - One of the biggest mistakes buyers often make is not researching the property fully before making an offer. Speak to the agent to get an idea of the vendor’s asking price. Study other comparable properties that have sold in the area recently, which will help you determine how much you think the property is worth and make an informed offer.

If you want to keep reading with any of that content, by all means, click the link https://www.realestate.com.au/advice/making-an-offer-where-to-start/ to keep reading. Please feel free to contact me on (0295) 686 266 or email at [email protected] for any thoughts and perspectives.

Thanks,

Alex