Making an offer on a property

 

​When you want to make an offer on a property the agent will draw up a sale and purchase agreement and ask you to sign it. They must give you a copy of the Sale and Purchase Agreement Approved Guide (.pdf 551KB) and ask you to confirm in writing that you have received it. You should read this guide before you sign the sale and purchase agreement.

This guide is also available in a number of languages from the Forms and publications section.

The sale and purchase agreement will contain any conditions you are attaching to the offer

You can make your offer subject to certain conditions. Common examples include making the offer subject to:

You can negotiate when the deposit is paid

You can negotiate when you pay the deposit i.e. when your (conditional) offer is accepted or when the agreement goes unconditional.

The agreement may also contain conditions from the seller or amended clauses

The sale and purchase agreement is legally binding. Read it carefully and if you don’t agree with anything raise it with the agent. Have your lawyer check the agreement before you sign.

The agent will then present the offer to the seller for consideration

The property will remain available for sale to others during this process.

If the price or conditions are not acceptable to the seller

You can negotiate with the seller, through the agent, with the aim of reaching a mutual agreement. The sale and purchase agreement may be amended a number of times during this process. The agent will ask you and the seller to initial any amendments to show you agree with them. Read any changes and make sure they are acceptable to you before initialling them.

Once you have reached agreement with the seller on acceptable price and conditions

Then both you and the seller will be asked to sign the final version of the sale and purchase agreement. Have it checked by your lawyer before you sign.

You cannot change your mind once you have signed a sale and purchase agreement

Sale and purchase agreements are legally binding. Once you and the seller have signed you will have a contract; the process of working through any conditions towards settlement will begin; and, once conditions are satisfied, you will have to go ahead with the purchase.

Read more about what is included in a sale and purchase agreement

Glossary