Things To Consider When Making An Offer On A Property For Sale By Private Treaty
Legislation has made it easier for purchasers to submit offers because the vendor’s minimum price is usually advertised.
Ask the agent to submit your offer on a contract form as that obliges the agent to present the offer to the vendor and it shows that you are genuinely interested in purchasing the property.
You should be realistic when making an offer because if it is too low the vendor may not take the offer seriously and may not bother to counter-offer. Always offer fair market value if you want to purchase the property. A good agent will give you a list of recent sales of homes in the area to assist you with making a fair offer.
Be fully prepared with finance organised and, if possible, be in a position to where you do not have to buy subject to the sale of another property. The less conditions you have on a contract the more favourably your offer will be considered.