Congratulations on accepting an offer on your home! While the journey to settlement may seem straightforward, it’s essential to be aware of potential hurdles and navigate the process with care.

Understanding Offer Conditions

Offer conditions can significantly impact the transaction timeline. Common conditions include:

• Cash unconditional: The buyer has the funds ready for settlement.
• Subject to sale: The buyer must sell their current property first.
• Subject to finance: The buyer needs to secure a mortgage.

Consider adding a “48-hour clause” to subject-to-sale offers to provide flexibility if another offer arises.

Dealing with Offer Fall-Throughs

If a sale falls through, your agent will work diligently to find a new buyer, leveraging their network and marketing strategies.

Inspections and Negotiations

Building and pest inspections are typically the buyer’s responsibility. If issues are discovered, negotiations may ensue, potentially involving price adjustments or repairs.

Settlement Conditions and Timeline

Settlement conditions, such as the timeline, can be negotiated. Factor in your moving plans and market conditions when setting a settlement date.

Settlement Day

On settlement day, key activities include:

• Transfer of funds: Secure electronic transfers are preferred.
• Legal documentation: Finalizing paperwork and transferring title.
• Final walkthrough: Ensuring the property is in agreed-upon condition.
• Vacating the property: Ensure you’re out by the agreed time.
• Utilities and services: Disconnect or transfer utilities.

With careful planning and guidance from your REIWA agent, you can successfully navigate the selling process and celebrate a successful transaction.