Don’t hesitate for the right home

In the current market, where there are favourable financial conditions and limited choice of property for sale, buyers who hesitate excessively are missing out. Whilst we would never suggest you let yourself be pushed into making a hasty buying decision, if you find the right home, don’t hesitate to buy.

The right time to buy a home is when you find the right home at the price you can afford. This can happen on the first day you start looking, or it can take weeks or months of painstaking effort.

A common occurrence at the moment is that one buyer makes an offer, then another buyer offers more. No matter what you have been told, here’s the legal position for agreements related to property:

a. An Agreement is not binding until it’s signed

Until all signatures are applied to the paperwork AND it becomes a valid contract the parties ARE NOT BOUND by the agreement.

This is the case even if you receive a VERBAL AGREEMENT to sign.

b. All parties must sign the Agreement

ALL PARTIES to the agreement must sign the paperwork for it to become a contract.

If the signature of one party is missing, the agreement is not binding.

c. The situation may change

Until ALL signatures are applied to the paperwork and the agreement becomes a valid contract the SITUATION OF ANY PARTY MAY CHANGE. Either or any party may CHANGE or REFUSE TO SIGN the agreement.

d. Don’t get your hopes up

We recommend you DON’T GET YOUR HOPES UP until it has been CONFIRMED that all parties have signed the agreement and a contract is in place. Ensure your agent lets you know if another buyer makes an offer on the property, and insist that you be given the chance to review your initial proposal BEFORE it is sold to someone else.

If you decide to make an offer for a home you like, be aware that the lower your offer, the less chance you will have of buying the home. Often it is best to make one offer - your BEST offer. Decide which is more important - the home you love or the price you will pay.

You don’t have to pay more than you can afford, just don’t be too clever or else you may miss the chance to buy the home you love. If you require our help we invite you to call, anytime.