There are many ways to make an offer.  But before actually deciding to make one, there are some things you need to consider first. 

• Are you clear on the maximum price you’re prepared to pay?  To establish your maximum price, you may need specialist help.
• Do you know the market?  What are prices doing in the area you want to buy in?  (Checking the real estate ads and talking to local agents will help)  What have similar homes in the area sold for recently?
• Do you know the rateable value?  The agent or seller should be able to tell you. Do you require a valuation to establish an approximate market value – either for your own peace of mind or as a condition of finance?  (You can include a satisfactory valuation report as a condition in your offer).
• Have you done your own home inspection to establish whether there are any major issues with the property that may affect your offer – or even whether you want to make an offer at all?  Do you require a report from a building consultant or engineer, either for your own peace of mind or as a condition of finance?
• Have you consulted your lawyer before making an offer so they can check out the fine print?
• Have you confirmed your finance?  If you have a pre-approval, are there any conditions that need to be met?
• Do you have a clear negotiating or bidding strategy in mind before making your offer?  The sections on offer and negotiation, Auctions and Tenders contain useful information on strategies for each of these home buying options.
  

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