Making an Offer

Making an offer on a house that has ticked all your boxes is an exciting and daunting step at the same time. We can help you with how to make a successful offer that will get you your dream home. This is where our experience of the market and property comes in handy and we prepare an offer that the seller cannot refuse. Generally speaking the following are some of the components of an offer document:

  • Name of the buyer – your name.
  • Name of the seller.
  • The price you are offering for the property.
  • The amount of Deposit money you are willing to write a cheque to say that you mean business. The cheque is deposited in a trust account.
  • Specific condition/clauses unique to the agreement such as waiving the inspection or subject to mortgage approval. Whatever the case, we will help you put in the right clauses to protect you and make the offer successful.
  • Time frame for validity of the offer that usually is less than 48 hours. If decision is not made within that period, you can have your deposit back.
  • Closing or Completion date – That is also an important aspect of the offer and refers to the date when you would actually like possession of the property and is usually a couple of weeks to 2 months.

Types of Offers

A Firm Offer
A firm offer means you are making an offer without any conditions and is preferred by the seller.

A Conditional Offer
A conditional offer means you are making an offer subject to certain conditions being met such as having a successful home inspection report or approved mortgage.

Offer Acceptance
The offer made can be accepted, rejected or the seller may present a counter offer and suggest changes to the price, or the date of possession. Offer is successful when both parties reach an agreement. If not the process will start afresh.

Submitting the offer
Well together with your realtor you have crafted a great offer and signed the paper and sent to the seller’s realtor.

If accepted
Congratulations! Start packing!

If Rejected
Well! You assess what went wrong and start afresh!

If counter offer is made
The seller may send a counter offer to negotiate a higher price or a different closing date. You can see if you are fine with the counter offer and if your budget allows you to accept a slightly higher price. You can try to negotiate the price down or be more flexible with the closing date. The process is emotionally draining but persistence can get you your house. If the property ticks most of your boxes and you have some flexibility, then go ahead and accept the counter offer. Starting afresh is always a choice also