Sale and purchase offer

[ermat]

Hi. I have seen a house I would like to purchase, (unconditional offer) the price has been dropped recently and there is now good interest in the property.
My question is, can I put a deadline condition time wise on my offer, my reason being I would like to minimise the competition I could be faced with when the agent tells other interested purchasers there is an offer on the table. I want only say a couple of days max for the vendor to accept or decline my offer.

[Anthonyacat]

Yes you can.

[ermat]

So it would read, condional subject to vendor accepting/ decling offer within 3 working days (for example)

[Anthonyacat]

"This offer expires / is retracted in full unless confirmation of acceptance is received prior to 5pm on (insert date)"

The real estate agent wont like it, but entirely within your right.

I've made offers with same-day deadlines before. That's a little unfair, but the market was hot and I had other offers to make.

[ladyagent]

Good Luck!!

[donna]

Would you not recommend the purchaser has to 'sign' as proof of acceptance? I know we're a trusting lot but gazumping is real.

cheers,

Donna

[ermat]

Would you not recommend the purchaser has to 'sign' as proof of acceptance? I know we're a trusting lot but gazumping is real.

cheers,

Donna

Sorry, what do you mean, me ( the purchaser ) signed the offer, my question was regards the vendor response time.

[donna]

Both should sign - the vendor can take a higher offer even if you have verbal acceptance. And the vendor can still pull out even with signatures but it's a deterrent and I'm not absolutely sure but if the contract has gone unconditional then it's harder still to break it but not impossible.

cheers,

Donna

[jack2016]

"This offer expires / is retracted in full unless confirmation of acceptance is received prior to 5pm on (insert date)"

The real estate agent wont like it, but entirely within your right.

I've made offers with same-day deadlines before. That's a little unfair, but the market was hot and I had other offers to make.

use this clause. if the vendor signs the ball is in your court.