Decide what price you want to offer:
If you've found your dream home, you need to decide what price you are prepared to offer.
Before doing this you may like to consider conducting a property sales history search to find out what the property last sold for and when; how large the property is; and the recent sale prices of surrounding properties.
You can get this information from a number of sources including the Department of Natural Resources and Water, RP Data and PDS Live.
Consider get an independent valuation by a professional (remember: real estate agents aren’t valuers). Call the Australian Property Institute on 07 3832 3139 for a list of licensed valuers.
Real estate agents have an obligation under the Property Agents and Motor Dealers Act 2000 to submit all offers that comply with the seller’s instructions to the agent.
Exceptions occur when, for example, the seller instructs their agent not to submit offers under a certain dollar figure.
Buyers should also be aware that sellers will examine all the terms and conditions of each offer before deciding to accept or reject any particular offer.
The conditions can make certain offers more attractive for reasons other than the proposed price alone.
Some sellers may be prepared to accept a lower price if the offer is unconditional rather than take the risk that a higher offer may not proceed to settlement, because of the special conditions required by a buyer.
