What’s the process when there are multiple offers on a property for sale?
There is not any right or wrong procedure.
It is important to remember that it is always a seller’s right to assume that any offer received from a buyer is their best offer.
If the seller has several offers to consider then the seller may ask the agent to inform the buyers that there are multiple offers and that the buyers have until a specified time to present their best offer.
The seller could also decide to only negotiate with one of the offers.
What happens if finance is not approved by the date on the contract?
On the assumption that you have used the L&P Real Estate standard contract, the contract continues on until either the seller terminates the contract or the buyer satisfies the finance condition and notifies the seller.
What do I look for when doing the final inspection prior to settlement of the property I am buying?
The purpose of the final inspection is to ensure that the property is in the same state and condition that it was in immediately prior to signing the contract.
The seller has made a representation to the buyer that the property at settlement will be in the same condition as it was in immediately before the Contract Date.
The buyer would also be looking to ensure that the seller has complied with any special conditions on the contract. For example the seller may have agreed to repair a cracked wall.
Fees vary depending on the type of property as well as what is negotiated in the sale. L&P Real Estate can provide an estimated closing statement to give you an estimate of what is to be paid as part of the sale. Some costs include:
What factors can influence the price of the property?
Here are some factors that influence the price of the estate:
I believe I have been unfairly discriminated against. Where can I complain?
If you believe that you have been denied a lease or had a lease terminated on unreasonable grounds, including but not limited to your gender, race, age, disability, sexuality, political or religious beliefs, ethnicity or marital status, then you can lodge a complaint with the Equal Opportunity Commission.
author: Aleksandr Kulikov