Buy

Advice For Buyers

Making an Offer

So you have found the property that includes the must haves of your “wish list”, what do you do next? Answer, your make an offer! In doing so it is important to understand the terms of a contract before signing and below is a brief discussion of the main points you will need to know.At Ray White Cairns Central your real estate agent will mediate the negotiation process between yourself and the vendor until terms can be agreed.

Contract Price and Deposit – The main terms of the contract are the price you agree to pay, the deposit amount and when it is payable. Under Queensland legislation the deposit amount is up to 10% of the purchase price.

Settlement Date – This is the day the seller hands over transfer documents and the buyer pays the Contract Price. The date is normally set 30, 60 or 90 day after the contract date. At Ray White Cairns Central confirmation of settlement from both parties is required to release keys to the buyer and any deposit monies held in trust to the seller.