First thing, do u have pre-approval for finance
ie: have you already been to the bank and been given pre-approval of a loan amount?
if not then u MUST make the offer subject to finance approval.
Now, knowing the banks are quite slow at the moment, I would ask for at least 30 day finance approval, not the usual 14 days real estate agents may insist on.
Also I would make it subject to a building and pest inspection....you may have 7 days or so to get this report, so get moving, will cost you about $500 but will be money well spent and may help you to knovck down the purchase price should the reports find any issues.
I ALWAYS have the clause "subject to my partners approval" this always gives you an out if need be.
If the agent has prepared the contract, I personally would take it away and have my own solicitor look over it and make amendements if he/she needs to.
Just be very careful signing anything without professional help.
Whatever price the vendor wants, expalin that so far you have only been verbally approved from the banck for 10% less.
ie....if the purchase price or price the vendor wants is $330,000 say u only have verbal approval for $300k and get a response.
This will mean the vendor needs to show their hand as to how low they will go and gives you room to move up in price if you feel you should.
Then again im a prick to deal wit when buying, so maybe my advice should be taken with a grain of salt......lol
Good luck, wish you all the best.
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