Real Estate
17 September, 2025
Making an offer in a Sellers’ Market
Making an offer on a property to buy is always an exciting time and whether it’s your new dream home or an investment property it’s important to know what you are doing to put you in the best position to win.
Firstly, start by speaking with your bank or finance broker to find out how much you can borrow, and it’s a good idea to arrange pre finance approval. You should speak with a few conveyancers or property lawyers so you have someone arranged who can review a contract before you sign it. Then it’s time to do your research, knowing what comparable and similar properties have sold for in the area is very important. Looking online and visiting properties that fall within your budget and meet your search criteria will also help you decide on whether you’re willing to compromise on certain “must haves” like what suburb you want to live in.
Next, it’s time to “stress test” your number by finding out how much the property would rent for, and what your return is for both permanent rental and possibly holiday let. You may also want to calculate the replacement cost as building your own place might be an option, but it’s important to factor in how long it will take. Now you should feel really prepared, and when you see a property that you like, be confident and transparent with the agent that you would like to make an offer, ask the agent what the Seller’s preferred conditions are, and what price will take the property off the market. Best practice is to present all offers in writing on a REIQ Contract of Sale, and don’t be rushed into signing anything before your conveyancer has had time to review it.
- Sean Thorpe Sales Director, Auctioneer & Founder of Paradise Property Group
