hi have a person interested in my house but has not put in an offer but has asked for a contract of sale to be sent to him then he will make an offer after his solicitor has gone through it im very confused ? i thought you had an offer first then if you accept that offer contracts are then drawn if i do contract first what cost is involved ? and at what risk
If you are planning to sell your house then you need to prepare contract of sale.
Make a soft copy of the contract and supply to the buyers through an email, if they request.
Any one can request the contract with out putting an offer on the property. I think cost will be around 700-1500 but not sure.Please DYOR
mcgrandles wrote:hi have a person interested in my house but has not put in an offer but has asked for a contract of sale to be sent to him then he will make an offer after his solicitor has gone through it im very confused ? i thought you had an offer first then if you accept that offer contracts are then drawn if i do contract first what cost is involved ? and at what riskHow can the potential buyer accept your offer to sell the house when they don't know the terms.
Also, in NSW at least, a property cannot be marketed by an agent unless a contract of sale has already been prepared.
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Yes, Terry is right- you have to prepare a contract of sale. Essentially in Victoria at least, what you are buying is the title to the property, the contract is what sets this out.
Think if you are buying say a jar of vegemite in the supermarket- you know the size, what is inside and what you are getting- what do you get when you buy property? You have to know what it is you are making an offer for. If you dont have a vendors statement and a contract of sale- then an offer means nothing- your prospective buyer could make an “offer” but then sees the terms and he is not interested. He could say, well my offer also included all your furniture – now its not included – My “offer” is withdrawn.
You have to get a statement drawn up some time- the sooner the better – dont give prospective buyers move on to the next proeprty and buy it. As long as I look at properties- the vendor is not serious about selling if he doesn’t have the vendors statement drawn up.Terryw wrote:How can the potential buyer accept your offer to sell the house when they don't know the terms.Also, in NSW at least, a property cannot be marketed by an agent unless a contract of sale has already been prepared.
Yep; i alwasy ask for the sale contract before making any offer.
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Are you doing this as a private sale? or via a agent?
Mick C | Shape Home Loans
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does it make a difference about the contract of sale and offer whether or not it is a private sale or via agent?
You are selling with an agent or you are selling yourself (privately) so you are still selling- it makes no difference- you still need a statement of what you are selling and contracts.
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