Private treaty sales, where properties are listed with a price guide and buyers make offers at their convenience, are the standard way to sell a home. If you're interested in buying through private treaty, here are some tips to help make a successful offer:
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Understand the Market
Know the market conditions before making an offer. In a strong market, consider offering the asking price or slightly above. In a slower market, you might start lower but be prepared to negotiate up. -
Research the Property
Do your due diligence on the property. Check the title, boundaries, and easements, and assess the condition of the building, electrics, and appliances. Building and pest inspections can highlight issues you might want to factor into your offer. -
Research the Seller
Knowing the seller's motivation can guide your strategy. If the property has been on the market for a while, the seller may be more open to lower offers. Recent listings often mean sellers are willing to wait for a higher price. -
Have Your Finance Ready
Ensure your offer is backed by finance approval and communicate this to the agent. Confirm with your insurance provider that the property can be insured without issues. -
Present a Thoughtful Offer
Be respectful when making your offer and present a well-reasoned price, including any reports or repair quotes. Consider adding incentives, like a shorter settlement, to make your offer more appealing to the seller.
By following these steps, you can improve your chances of securing the property you want at the best possible terms.
Next step: Want the full picture before you make an offer? Our free Buyers Course covers offers, contracts and negotiation.
