You’ve spent months (maybe years!) anticipating getting onto the property ladder, buying the family home or even moving into your dream home. You’ve saved for a deposit, identified the areas where you want to live and you’re ready to get buying!

But now you’re facing the next big hurdle. How to secure your home.

Knowing how to create a compelling offer is the key to successfully securing your dream home. But it’s not as simple as getting the price right (though that’s a huge part!). So here are our tips on how to successfully submit an offer on a house and ensure you’re winning the home you want and deserve!

Step 1: Get your funding in place with a pre-approval

Getting a pre-approval in place is an excellent way to secure your home and it’s an important first step. First it ensures you know the amount you are able to spend on a home, which will direct your property search and put you in an excellent position to negotiate.

But pre-approval also boosts the confidence of the seller who sees you as a serious buyer who is in a position to act fast if needed.

Getting your funding sorted with a pre-approval is easy with our team of experts at Lending Loop. With over 40 lenders on our books, we can help you find the right lender for your situation and get your pre-approval in place quickly and easily.

Step 2: Find the right home

Finding the right property is the next step (and possibly most important) step in successfully securing your dream home. But it’s not always a fast and easy process. That’s why it’s always helpful to have someone on your team to help you do the legwork.

Buyer Assist are expert property analysts who can take the stress out of house hunting, by giving you access to a dedicated buyer coach and proprietary tech that can put you ahead of the competition. 

Step 3: Figure out the right offer price

This is the step that most homebuyers will be well aware of, but may find to be the trickiest – figuring out the right offer price. A higher offer will almost always put you in a stronger position to buy the property. But that doesn’t mean that going higher is right. It’s vital that you ensure that the price you offer is reasonable and within your budget.

Determining the right offer price is both art and science. The science is finding the data you need to get a number. This includes researching the house prices in the suburb you’re looking in and the property range you’re considering. Check out property websites and speak to agents.

Buyer Assist also has market analysis tools that help consolidate information about recent sales of similar properties. And their experts can help you utilise this information to make a fair and competitive offer that puts you on the right road to your new home!

The art is in knowing how to narrow the price range down to a reasonable price that will still be high enough to secure you the property. This art element is why it’s always helpful to speak to an expert property analyst who’s on your side and can help you narrow down your price range to the best offer for a particular property.

Step 4: Consider the terms and conditions

The offer price is perhaps the big ticket item in terms of scoring the home of your dreams. But it’s not the only thing you need to consider. The terms and conditions you can offer to the seller can make a huge difference in securing your new home as well.

For example, a shorter finance date period may be appealing to a seller who is keen to move on. Or you can negotiate a settlement date that is helpful for the seller, for example one that limits the amount of time they will have to spend in interim housing between the sale of the home to you and the purchase of their next home.

These kinds of things can help make your offer more attractive to a seller.

Step 5: Submit a fully completed offer

When you’re ready to proceed, submit your fully completed offer in writing through your real estate agent or directly to the seller. Be sure to double check that it contains all the pertinent details, including the offer price, any conditions, your pre-approval information and your preferred settlement period.

It’s also a good idea to request a deadline for the seller’s response, so you’re not left waiting for too long.

Step 6: Navigate counter offers

Often the seller will come back to you with a counter offer. These typically revolve around offer prices and the settlement period. Stay calm and be ready to negotiate to secure the best deal possible.

If you’re at all concerned about this process, the Buyer Assist team has excellent negotiation services and is on hand to help handle negotiations with confidence.

Step 7: Finalise your purchase

Once your offer is accepted, all that’s left to do is finalise the deal. Our Lending Loop team can help you do that by assisting to arrange any necessary inspections and helping to ensure that all your documentation is in order before settlement.

We’re here to help

Making an offer on a house is a significant step but it doesn’t need to be a stressful one! With the help of our team, as well as our integrated services with Listing Loop and Buyer Assist, you can be sure you have everything you need for a smooth and successful home buying journey!

Give us a call today at Lending Loop and let’s get started!