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The Offer and Acceptance Contract

 

The details of your offer are expressed in the Contract for Sale of Land/Strata Title by Offer and Acceptance. This is a legally binding contract that sets down the terms and conditions under which the purchase and sale will be completed.

After you have signed the offer the agent then forwards the offer to the seller. The seller may not agree to your price and/or your conditions. The seller may make a counter offer or may totally reject your offer.

A copy of the Contract for Sale of Land/Strata Title by Offer and Acceptance and the Joint Form of General Conditions for the Sale of Land is given to all people who are a party to the offer and those people who may accept the offer. The Joint Form of General Conditions for the Sale of Land is a legal part of the Contract and details the rights and obligations of the buyer and seller during the pre - settlement period.

The contract is not legally binding until the Contract for Sale of Land/Strata Title by Offer and Acceptance is signed by all parties who are signatories to the contract, and communication of its acceptance is conveyed to all parties who are signatories to the contract.

our offer.

A copy of the Contract for Sale of Land/Strata Title by Offer and Acceptance and the Joint Form of General Conditions for the Sale of Land is given to all people who are a party to the offer and those people who may accept the offer. The Joint Form of General Conditions for the Sale of Land is a legal part of the Contract and details the rights and obligations of the buyer and seller during the pre - settlement period.

The contract is not legally binding until the Contract for Sale of Land/Strata Title by Offer and Acceptance is signed by all parties who are signatories to the contract, and communication of its acceptance is conveyed to all parties who are signatories to the contract.

 

 

The Process of Offer and Acceptance

Finally, the moment you have been waiting for it is time to put an offer to the vendor. If you consider the price to be too high, then discuss with the agent the option of presenting an offer at a lower price. The listing agent can then negotiate in an attempt to reach a price acceptable to both parties.

Agents are normally paid by the seller to obtain a fair and reasonable price and are required to act in the interests of the seller. The agent is under no obligation to advise you if another buyer offers a higher price nor the value of that offer. The agent must simply present your offer when it is received.

If you are genuinely keen on the property you have selected, then it is in your interest to make the offer your best offer.

Carefully consider the comments from the REIWA agent. For example, if the agent informs you that the seller is not willing to consider offers below a certain price, then by making a low offer, you may lose the ?perfect? property. However, it is your right to make an offer at whatever level you choose.