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So a written proposal in terms of
a contract is needed, containing in addition to offer price all terms
and conditions of purchase.
At a general level the offer should contain these points
- The address and sometimes a legal description of the property.
- Sale price.
- Date for closing of the sale.
- The terms. For example subject to obtaining a satisfactory structural
report, pest report (such as termite infestation), or obtaining a mortgage
for a given amount.
- Sometimes other legal requirements which are specific to each state.
All subsequent counter-offers during the negotiation process are also
best put in writing.
We recommend employing a solicitor or conveyancing officer to assist you with the legals of this process. Conveyancing law is complex and changing and mistakes in this area can cost you the sale.
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