In Victoria, it's standard to fill out a Contract of Sale form when making the first offer. However, if the agent comes back with a higher figure, are you suppose to fill out the Contract of Sale form again (with new offer) and resubmit, or do you usually now just counteroffer by email/verbal?
VIC Sale by Private Treaty Procedure
- Thread starter P'cisT
- Start date
Up to you - but why not cross it out and write the new figure?
You can do either until you agree on a price (if you do). But your offer is likely to be stronger written on the contract so best to add in the new figure and initial it.
In the past I have given my best offer on a completed contract together with a cheque for 10% of the offer figure made out the the RE's sales trust. This way 'the cat is in the bag' for the vendor and agent and they may give the offer a good consideration, or at least give it more thought than if it was verbal / via email. Many volume based agents will try to convince the vendor that 'this is a good offer etc' just so they can wrap it all up and move on to the next listing. Naturally for this to have an effect your offer needs to be reasonable in relation to the asking price and not ridiculously under.
In the past I have given my best offer on a completed contract together with a cheque for 10% of the offer figure made out the the RE's sales trust. This way 'the cat is in the bag' for the vendor and agent and they may give the offer a good consideration, or at least give it more thought than if it was verbal / via email. Many volume based agents will try to convince the vendor that 'this is a good offer etc' just so they can wrap it all up and move on to the next listing. Naturally for this to have an effect your offer needs to be reasonable in relation to the asking price and not ridiculously under.
Yes if X is your name. Or your usual signature. Sometimes you "mark" is enough
Done this many a time in WA.
Their standard REIWA Offer & Acceptance contracts are a lot more stream line as well in comparison to other states - One A'4 page front & back.
