Please kindly download the Letter of Offer and submit a hardcopy to the agent, or scan and email the offer to firstname.lastname@example.org
Note: Submitting a completed and signed Letter of Offer is not a binding contract. It is only a means to assist the Agent to collate and handle offers.
To become a binding contract there are a number of steps that must be taken:
1. You must sign a ‘Contract for the Sale of Land Residential Property’.
2. This contract must be accepted and signed by the Vendor
3. You then need to be served a ‘Form 1 – Vendor’s Statement’ by the Agent either personally or by email depending on the terms of the contract. This Form 1, (also called the ‘Cooling-off papers) contains the Vendors statements about the property and all the searches relating to the property from dozens of government departments, local council and possibly also Strata/Community Corporation managers.
4. After being served you then have 2 clear business days (does not include weekends and public holidays) in which you can arrange building and pest inspections or you may decide to ‘Cool-off’ and therefore get out of the contract completely.
5. Only after this 2 day ‘Cooling-off’ period has expired will you then be committed to purchase the property.
The next morning, after the 2 days, you will need to pay your deposit to the Agent.
If your Contract is subject to some conditions such as finance it’s still essential that those conditions be fulfilled. If, according to the conditions’ you fail to get finance approved you will still be able to void the contract and get your deposit returned. If however, you fail to use best endeavours to obtain the loan you may still be committed to the contract.
If you are not certain of what is involved or if it’s possible to void a contract for any reason we recommend that before committing yourself to a contract you consult a Conveyancer or a Solicitor.