How to Confidently Make an Offer on a Home

Finding the perfect property in your price range is an exciting achievement. But once you’ve found the one, what’s the next move? Let’s clarify how to make an offer on a home, from first enquiry to settlement day.

Buying property isn’t something most of us do every year. Many people will only go through the process a few times in their lifetime. It’s no wonder that even experienced buyers often feel unsure about what steps come next.

If you want to put in an offer and secure your new home, here’s a clear step-by-step guide from browsing to owning.

1. Start with a Conversation

Before making any offer, it’s essential to know you’re in a position to complete the purchase.

That’s why your first step should be to talk to your broker.

A good broker will explain your borrowing capacity and deposit so you know your true buying budget.

While many buyers seek home loan pre-approval before they even begin house-hunting (and it can be a smart move), it’s not mandatory.

But once you’ve found a property you love, you’ll want to get the ball rolling on finance as quickly as possible to ensure your loan is ready in time for settlement.

2. Request the Contract of Sale

When you’re serious about a property, ask the selling agent for a copy of the contract of sale.

Reviewing this contract with your solicitor or conveyancer is crucial. This step is usually quick, but it can uncover any unusual conditions that might favour the seller.

Even conditions like a shorter settlement period aren’t necessarily deal-breakers. They can sometimes become valuable bargaining points in your negotiations.

3. Research the Local Market

By this stage, you’ve likely attended multiple inspections and gathered a feel for local pricing.

This is the moment to leverage that research. Look at comparable sales in the area to understand what similar properties are selling for, not just what they’re advertised at.

This market knowledge will provide a solid foundation for determining a realistic, competitive offer.

4. Consider Negotiating a Discount

Even if the asking price seems fair, there’s often room for negotiation.

According to CoreLogic, sellers have recently been accepting median discounts of around 3.4%. For a $600,000 home, that could mean saving over $20,000.

Of course, discounting potential varies by location. Some markets are more competitive than others.

The key is to stay within your budget and negotiate confidently without overstretching yourself financially.

5. Put Your Offer in Writing

Once you’ve settled on the price you want to offer, put it in writing. This demonstrates to the seller that you’re a serious buyer.

At this point, expect some back-and-forth on price. Negotiations are part of the process.

When both parties agree, you may be asked to pay a small holding deposit, often around 2.5% of the agreed purchase price.

This isn’t the same as the 10% contract deposit you’ll typically pay when signing the formal contract of sale.

Remember to contact your broker as soon as your offer is accepted. They check the property details with your lender and progress your home loan application.

6. Sign and Exchange Contracts

It usually takes a few days to finalise the contract.

Use this time to confirm with the selling agent how the 10% deposit will be paid.

When everything’s ready, both you and the seller will sign the contracts and exchange them. At this point, you’ll pay your contract deposit to the agent.

A good broker will stay in touch with you during this stage to make sure everything runs smoothly.

7. Prepare for Settlement

Settlement typically happens 30–90 days after exchanging contracts. This is when legal ownership transfers to you.

During this waiting period, your broker works behind the scenes with your lender to ensure your home loan is finalised and ready for settlement day.

When the big day arrives and you receive the keys to your new home, your broker will be there to celebrate your success!



Make Your Move with Osinski Finance

Buying a property can seem complicated, even intimidating, but you don’t have to figure it out alone.

At Osinski Finance, we specialise in simplifying the home-buying journey for our clients. We’ll help you with home loans, investing in property, and refinancing, letting you focus on the excitement of your new home.

Call us today to see how we can help you buy your new property.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to your circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.