How to Make an Offer on a House (And When to Get Finance)

Making an offer on a house of your dreams can be a thrilling experience—even more so when you’re confident that you’re offering a fair price. If you’re like many homebuyers, however, you may be unsure of how to make an offer that’s both strategic and attractive to the seller.

In this blog post, we’ll outline some tips for making an offer on a house in Australia. By following these guidelines, you can put yourself in a strong position while also remaining respectful to the seller. Let’s get started!

1. Have a base number in mind.

If you want to make sure your offer is accepted, it’s important to have a base number in mind. This number should be the absolute maximum you’re willing to pay for the house. Once you have your base number, you can start making offers that are closer to your ideal price. Keep in mind that the seller may not accept your first offer, but if you stay firm on your price, you’re more likely to get the home you’ve always wanted.

2. Consider the current market conditions.

Before you make an offer on a house, it’s important to consider the current property market conditions. If the housing market is booming, you may need to act quickly or risk losing the house to another buyer. On the other hand, if the market is sluggish, you may be able to get a better deal by making a low offer. 

Either way, it’s essential to consult with a real estate agent before making any decisions. They should provide you with the most updated information on the local market. With their help, you can create a strategy that meets your needs. 

3. Look at the property’s comparables.

Before making an offer on a property, review its comparables. You can find this information online or through a real estate agent. Comparables will show you the prices of similar homes in the area. With this data in hand, you can make a more informed decision about how much to offer for a house. 

4. Be prepared to negotiate

When the sellers say no to your offer, it’s important to be prepared and have a backup plan in mind. However, it’s also equally important to be willing to negotiate right after inspection. If you really want the house, there may be room for compromise. For example, you might be willing to offer a higher price if the sellers are willing to include some of the furniture in the sale. By being prepared to walk away but also open to negotiation, you’ll increase your chances of getting the house you’ve always wanted.

5. Get help from a professional mortgage broker

Financing a home loan is a big commitment so it pays to get help from a professional mortgage broker before making an offer on a house. A mortgage broker can save you a lot of time and money by getting the best possible financing options. They can also help you negotiate with lenders on your behalf. With so much at stake, it makes sense to seek out the expertise of a mortgage broker when making an offer on a home.

Getting pre-approval on your finance can also give you peace of mind for just how much a lender will let you borrow for your house purchase. This gives you a “maximum” offer you can go to on a house knowing you will get the finance for it.

If you want to know how much you can borrow, check out our loan calculator here.

Next steps to make an offer on a house in Australia…

If you’re in the market to buy a house, it’s important to know how to make an offer on a house in Australia. You don’t want to overpay for a property or miss out on your dream home because you didn’t submit a strong offer. Contact us today at North Brisbane Home Loans for the right finance advice to ensure you are set to start making real estate offers on your dream home. We’ll help ensure that you get the best home loan deal possible!