When you find the house you want, you’ll need to make an offer in writing. The real estate agent or your lawyer will prepare the sale and purchase agreement. If it has not been prepared by your lawyer, make sure they check it before you sign. The offer will outline what chattels go with the sale. You may be able to negotiate other chattels. It’s helpful to make a list of any chattels you want to include in your offer to buy. Most first offers are ‘conditional’. This means you are making your offer subject to one or more conditions being met. Conditions may include
- finance being approved
- a satisfactory independent valuation
- a satisfactory title search
- a satisfactory building inspection
- a satisfactory Land Information Memorandum.
The seller may not accept your offer and could come back with a counter offer. This means they might want to raise the amount you’ve offered, or change some of the other things you’ve asked for. This may happen many times before you agree on the final price and terms, but make sure you stay within your budget. Once you’ve agreed the sale price, settlement date and conditions, you’ll have an agreed period of time to get the reports.