Our process for handling offers
At Ray White Mildura, we strive to provide the most consistent and reliable process for purchasing real estate in our region. Unless otherwise instructed by the Vendor, we will follow the below processes.
Making an offer
When making an offer with Ray White Mildura you will be required to present your offer in writing using our Multiple Offer Form. Once your offer is complete, we will present this written offer to the seller for their consideration.
Providing a fair buying environment
Upon receiving an offer on a property, we will notify any outstanding parties that have expressed an interest in the property and provide them with a fair opportunity to also make an offer.
One interested party
If there are no other current offers on the property, then you will be negotiating exclusively with the seller and the seller may choose to either accept your offer, decline your offer, or provide a counteroffer for you to consider. Should a second offer be placed on the property by another buyer we will notify you as soon as possible and the negotiation would enter into a multiple offer situation.
Multiple interested parties
If there are other interested parties the agent will make all parties aware that there are now at least two parties interested in pursuing the subject property. To ensure a fair process for all concerned a closing deadline for offers to be submitted will be set and all parties will be given 24 hours for the best and final offer.
The agent will advise all parties that each individual offer will be kept confidential and not be disclosed to any other party. This includes price, deposit, and any special conditions.
Where there are multiple interested parties, the agent will make each party aware that they will only have one opportunity to put their best foot forward. Should the Seller accept another Buyer’s offer it will be too late for any party to increase their offer or change their conditions.
The seller’s options
The seller will have the following options:
Offers will be presented to the seller as soon as possible post-closing deadline and each party will be advised of the sellers decision within 24 hours. Should the seller choose to reject all offers, then each party will be given a second opportunity.
Prior to making an offer on any property
We suggest that you:
* Conduct thorough market research to identify the values in the area.
* Consult your finance broker to ensure your finances are in order.
* Where available, send a copy of the Section 32 and Contract of Sale to your conveyancer for review.
* Thoroughly understand the fixtures and fittings included with the sale.
* Consider the Sellers preferred terms to strengthen your offer.
If a seller accepts your offer verbally please be aware that your purchase is not assured until contracts are signed by both the buyer and the seller. Once contracts are exchanged by both parties the sale is legally binding and your purchase is assured.
Our commitment to you
At Ray White Mildura we pride ourselves on delivering a fair process for all parties concerned. Should you have any queries, complaints or suggestions at any time please contact our team on 03 5021 9500.