Making an offer on a Port Douglas house is how you express your interest in going through with the purchase of that property. Once you have made an offer, the wheels may be in motion for you to sign the contract of sale that will eventually lead to you owning that house. It’s an exciting and important step of the buying process, but one you may need some clarification on exactly how it works.
Property Shop Port Douglas & Mossman is an experienced Port Douglas real estate agency that has helped countless buyers over the years secure a new home in this beautiful part of the country. In this guide, we will walk you through everything you need to know about making an offer on a Port Douglas house, and what happens afterwards.
Making an Offer on a Port Douglas House
Whether you are buying your first home, expanding your investment portfolio, or simply wanting to buy into the Port Douglas market, making an offer can always be done the same two ways. You can either:
- Make a verbal offer directly to the sales agent, or
- Fill out a form with a written offer
Either of these approaches is acceptable, although you should speak to the sales agent first to see which one they would prefer. Whether you make a verbal or written offer, this expression of interest will include how much you are willing to pay for the property. After the sales agent has received your offer, they will speak to the current owner of that house to determine whether to accept or reject your offer.
If your offer is accepted, a contract of sale will be drawn up. This contract will formalise your offer, outlining how much you are willing to pay for the Port Douglas house for sale, details of when the deposit will be paid, and the date of the settlement.
The contract of sale only becomes legally binding after it has been signed by both yourself and the seller. It is recommended you discuss the contract with your solicitor before you sign. After you have signed the contract, there is a cooling-off period of five business days when either party can change their mind. However, there is no cooling-off period if you buy the property at an auction.
Paying the Deposit
Once the contract of sale has become binding, you will need to pay a deposit on the house for sale in Port Douglas. The price of this deposit and when it needs to be paid will be outlined in the contract, but it typically needs to be paid within 2-3 days after the signing.
You may also have to pay a partial deposit when first making your offer. It’s important to note that this does not guarantee that your offer will be accepted. If your offer is rejected, the seller will refund your partial deposit in full.
Conditions of the Sale
There may be some important conditions outlined in your contract that could affect the sale of the property if not met. These conditions could be:
- Dependant on whether or not you secure finance
- The outcome of a building and pest inspection
- If you are currently selling your existing property
It is your responsibility to ensure any conditions relating to you are in the contract before you sign it.
Contact Property Shop Port Douglas & Mossman
The team at Property Shop Port Douglas & Mossman are committed to helping people buy and sell property right throughout the Douglas Shire. If you are looking to buy from the range of houses for sale in Port Douglas or its surrounding areas, contact our friendly team today.