Representing Offers When Buying.
Here’s the policy on how OBrien Real Estate Judith Wright treats the process of receiving offers from prospective buyers on our properties
At OBrien Real Estate Judith Wright in Cowes and Wonthaggi, our aim is to provide a consistent and reliable process for purchasing real estate and this is why we have a policy on representing offers when buying.
Making an offer
When you make an offer with one of our agents you will be required to place your offer in writing using one of our “Multiple Offer” forms. Once your offer is complete we will then proceed to present this written offer to the seller for their consideration.
Providing a fair buying environment
After receiving your written offer, your OBrien agent will contact all other parties that have expressed an interest in the property and provide them with the same opportunity to also make a written offer on the property.
Only one interested party
If there is no other interest from the other parties on the property, then your OBrien agent will negotiate exclusively with yourself and the seller. The Seller may choose to either accept your offer, decline your offer or counter offer for you a different that they are prepared to sell for.
Multiple offers
If another interested party that wishes to make an offer also. We will notify both the interested parties aware that there is more than one interest party wanting to buy the property. To ensure a transparent process for all, OBrien will set a deadline for offers to be submitted, usually within 24-48 hours, however this can depend on the availability of the seller and the interested parties.
Privacy
The agent will advise all parties that each individual offer will be kept private and not be disclosed to any other party. This includes price, deposit and any special conditions.
Make It Your Best Offer
The OBrien agent will make each party aware that they will only have one opportunity to put their best offer forward. Should the Seller accept another interested parties’ offer that decision will be final and no further offers can be made to secure the property, meaning it is too late to increase an offer or change the terms and conditions of the offer.
The Seller’s Options
The Seller will have the following options:
-Accept the offer that best meets there expectations
-Choose to negotiate exclusively with the most attractive offer
-Reject the offers and continue with the sale campaign
-The Sellers decision will be made usually within 24 hours from the deadline date set by the OBrien agent. -Should the Seller choose to reject the offers, each interested party will again be given another opportunity to make a further offer.
Prior to making an offer on any property
We suggest that buyers should:
- Ensure you have sort legal advice on the Vendors Section 32 Statement
- Have finance approved by your bank or finance broker.
- Have a clear understanding of what remains with the property as part of the permanent fixtures and fittings.
- Consider engaging a professional to conduct a building and/or pest report.
Seller’s acceptance
If the seller accepts your written offer please be aware that property is not yet sold to you until the formal contracts are signed by both yourself and the seller and the required deposit has been paid.
Any questions or feedback please contact us via the office details below.
OBrien Real Estate Judith Wright, locations in Cowes and Wonthaggi.
Cowes
52-54 Thompson Ave Cowes VIC 3922
03 5952 5100
sales.cowes@obre.com.au
Office webpage: Click to View
Wonthaggi
32 McBride Avenue Wonthaggi VIC 3995
03 5672 5558
wonthaggi@obre.com.au
Office webpage: Click to View
