Making an Offer
DECIDING ON WHETHER TO MAKE AN OFFER Once you are happy with your shortlist, the next stage is inspect the properties. Whilst looking at the property, it is also a good idea to check out the neighbourhood and the neighbours. Don't be afraid to ask questions. Here are some questions you may want to ask: * Why are you selling? * How long have you lived here? * What improvements have been carried out to the property? * What are the rates? * Where is the nearest transport? * What are the neighbours like? * Have there been any price reductions? * How long has the property been on the market? * Which direction does the property face? * Which rooms get the Western sun in the afternoon? * What fixtures and fittings are included or excluded in the sale? * Are there any current issues with the property that they are aware of? * Where are the nearest schools? Some of the things to be mindful of when looking at a property are: * Do the windows and doors open and close easily * Are there cracks in the plaster, brickwork * Does the ceiling sag, * Are the floors level and firm, * Do all the taps, toilet, etc. work, * Is all the guttering and roofing in tact, * Are there stains or watermarks in wet areas such as the laundry, bathroom or kitchen. If you are happy with your research so far and are ready to make an offer, we strongly advise that you get a professional inspection carried out and make any offer subject to the findings of the inspection. If you go ahead with a professional inspection, you will receive an inspection report that should identify visible problems with things like foundations, doors, windows, roof, vents, fans, gutters, plumbing, electrical systems, heating, cooling, ceilings, walls, floors, insulation, ventilation, exterior, etc. The inspection report should also estimate the cost to repair and maintain. If there are any issues you will be informed and can ask questions of the Vendor and use the information when you negotiate the price. It is also wise to get a pest inspection done which will determine whether there are any current or past infestations. Remember if you are ready to make an offer, make sure you have a copy of the Vendor Statement and your legal advisor has reviewed it. MAKING AN OFFER Once you are satisfied the property meets your requirements and the price range is affordable you should make an offer in writing to the seller. The written offer should contain any questions you still may have and and any conditions relating to the inspection report, vendor statement and/or agreed details such as repair and maintenance or the inclusion of any extras agreed to. Your written offer should also reference the Vendor Statement and have any conditions relating to the availability of finance stated clearly. For instance, if you are dependent upon receiving finance with specified criteria such as interest rates, this should be explicitly stated in the written offer.
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