How to Make an Offer on a Property
So, you’ve found the one and you’re ready to make an offer. Here’s everything you need to know to navigate the process like a pro and make sure your offer stands out.
Signed Contract vs. Expression of Interest
You can make an offer by signing a Contract of Sale with your offer and conditions. Some agents might ask you to fill in an Expression of Interest form instead. While both are valid, in my experience, a signed Contract of Sale holds a bit more weight.
Once the sellers agree to the conditions and sign the Contract of Sale, you’ve officially entered into a contract to purchase the property. Make sure to run the contract past your solicitor/conveyancer before signing. They’ll usually do a complimentary review of the contract to ensure all listed conditions are in your favour.
If you don’t already have a great solicitor or conveyancer on your team, we’d be happy to recommend some trusted local businesses that our clients love.
Back Yourself and Negotiate
This is your time to shine! Back yourself and don’t shy away from negotiating. Just a heads-up: avoid relying on advice from real estate agents regarding finance conditions. While they’re great at selling properties, their advice might lean more toward the seller’s interests. Always speak to your broker (That’s us!) to ensure your interests are protected.
What to Include in Your Offer
Your offer should clearly outline these key details:
The price you’re happy to pay
Deposit amount: Typically, you’ll pay a small initial deposit (a few thousand dollars) when you sign the contract. Once the contract becomes unconditional (all conditions are met), the remaining deposit (usually 5–10%) will need to be paid. This is negotiable, so make sure you’ve got the funds ready. If your deposit involves government grants or gifts, these will usually be paid at settlement so you may need to negotiate a smaller deposit payable upfront. Unsure? Talk to your broker to help you work this out.
Finance condition: No matter what the agent says, do not skip this if you’re seeking finance (even if pre-approved). This standard clause protects you and allows you to end the contract if your loan is declined or if the bank valuation is lower than the purchase price. A 14–21 day finance period is typical—chat with your broker for guidance.
Building & pest inspection: If your inspector finds major issues, you can opt to walk away from the sale or renegotiate the purchase price. (Hot tip: Get quotes for repairs to help strengthen your negotiation.) It’s standard to negotiate a 7-10 day period from the date you sign the contract to arrange this inspection.
Settlement date: This is the day the property officially becomes YOURS! Being flexible with the settlement date to suit the seller’s circumstances can make your offer more attractive. Generally, allow at least 30 days in QLD and 60 days in other states, but you can negotiate longer if needed.
Additional conditions: Want to get creative? Consider requesting the property be professionally bond cleaned before settlement. You’d be surprised how much difference this can make! Also, list any appliances or furniture (e.g., dishwasher, curtains) you’d like included in the contract price. Discuss any conditions of the sale with your conveyancer/solicitor, they’ll be able to guide you.
Final Tips
Making an offer on a property can be nerve-wracking, but with the right guidance, it doesn’t have to be. Lean on your solicitor, broker, and the tips above to make sure you’re fully prepared.
Happy negotiating—you’ve got this!
Your Broker,
Tara
>>> Still Got Questions? Get in touch and we’d be happy to talk through them with you!
