Understanding the Process of Making an Offer…
When you buy a home, you are buying much more than four (4) walls and a roof over your head. You’re buying a lifestyle for you/your family. This process can be exhausting & exciting all at the same time. We want to share our insights, having helped many of people buy properties.
- Understand how much you can borrow
It’s a good idea to find out how much you can afford to borrow before you even start looking around at properties to buy. Even better, an important step is by getting a formal pre-approval in place. Having a chat with your preferred bank is encouraged and we also recommend having a chat to a Mortgage Broker too to ensure you’ve gained a wider perspective on the various loans and packages out there to best suit your needs.
This handy list of tips and hints will give you a rundown of home loans and how to prepare for…
https://www.moneysmart.gov.au/tools-and-resources/publications/factsheet-home-loans
- Start Searching
Now that you have your pre-approval and understand how much you can borrow, jump onto realestate.com.au to find your dream home. With some many things to consideration, it is said the most important consideration is location for most buyers. A home can always be renovated or improved, but you can’t change its location. A great location allows you to live the lifestyle you want for you and your family. Remember; finding a great home at the right price in the right location, takes time.
- Thoroughly Inspect the Home
Conducting a thorough inspection of the property is important. Using a checklist can help you as they prompt you to assess each and every aspect of the home.
- Making an Offer
Offer – Under this process there is a second chance for a buyer and further negotiations are permitted. Once the offer is presented to the owner, they may choose to accept the offer, negotiate or decline the offer.
Multi Offer – If a property receives 2 offers this will result in a multi offer process. Each buyer involved in this offer process has been made aware of the multiple offer situation and instructed they must make their best and final offer ahead of the submissions deadline. As under the multiple offers process there is no second change for the buyers, nor further negotiation permitted for the seller. This ensures each buyer has a fair and independent opportunity to secure the home. Once all offers are presented to the owner, they may choose to accept an offer, or decline all offers and continuing with the sales campaign. At all times your offer will remain confidential.
Looking to make an offer? Check out our next blog for how to make an offer through our Agency
