When offers arrive, price is the first thing everyone looks at. It matters, of course, but it's only part of the picture. Two offers with the same price can be very different.
Look at the conditions
An offer with few conditions is generally more certain than one with several. A slightly lower offer that is unconditional may be a stronger position than a higher offer with conditions that could fall over.
Check the buyer's finance
Has the buyer got pre-approval, or do they still need to arrange finance? The more secure the funding, the more confident you can be that the sale will go through.
Compare the dates
Settlement and possession dates matter, especially if you're buying another home. An offer with dates that suit your plans can be worth more than an extra few thousand dollars.
Other things to weigh up
- The deposit amount
- What chattels the buyer expects to be included
- Whether the buyer needs to sell another property first
- How flexible and straightforward the buyer seems to be
Talk it through
When offers come in, I'll go through each one with you side by side, so you can see how they compare on price, conditions and timing before you decide. Your lawyer can then advise on the legal detail.
Quick tip
Your agent is there to help you weigh this up. If you're unsure about anything in an offer, just ask.
This is general information only, not legal, financial or building advice. Rules and market conditions change, so check the details with your lawyer, lender or the relevant authority before making decisions.
