How Do I Make an Offer on a Property in Victoria?

To make an offer on a property in Victoria, you’ll generally communicate with the selling agent, who will present your offer to the vendor. The offer can be made verbally or in writing, but a written offer is best for clarity and should be included in the Contract of Sale.

Before making an offer, get pre-approval for finance, understand the Section 32 (Vendor’s Statement), and ensure all conditions are included in the Contract of Sale.

Whether you’re a first-home buyer or a seasoned investor, this guide will walk you through how to make an offer on a property in Victoria.

1. Get Your Finances in Order

Before making an offer, ensure you have:

• Pre-approval from your lender
• A clear understanding of your borrowing capacity
• Access to a deposit (typically 5–10% of the purchase price)

This strengthens your position and shows sellers you’re serious.

2. Inspect the Property

Attend open homes or private inspections to assess:

• The condition of the property
• Any potential issues or repairs
• How it compares to similar properties in the area

Consider obtaining a building and pest inspection if the property is not being sold at auction.

3. Review the Contract and Section 32 Statement

Ask your conveyancer or solicitor to review:

• The Contract of Sale
• The Section 32 Vendor Statement (which includes details about title, rates, zoning, easements, and more)

This helps uncover any legal risks or hidden costs before you commit.

4. Make a Formal Offer

You can make an offer through:

• A written offer form provided by the real estate agent, or
• An Expression of Interest document

Your offer should include:

• Your proposed purchase price
• Any special conditions (e.g. subject to finance, building inspection, or sale of your own property)
• Your preferred settlement date

Your deposit amount and payment terms

The agent will present your offer to the vendor for consideration.

5. Negotiate the Terms (if needed)

The seller may:

• Accept your offer
• Reject it
• Come back with a counter-offer

You may go through several rounds of negotiation. Stay clear on your budget and conditions.

6. Sign the Contract

Once your offer is accepted:

• Both parties sign the Contract of Sale
• You pay the initial deposit, usually 5–10% of the purchase price

In private sales, a 3-business-day cooling-off period usually applies (note: not available if the property was bought at auction or under certain other conditions).

7. Appoint Your Conveyancer (if you haven’t already)

Your conveyancer will:

• Conduct property searches
• Liaise with the seller’s legal representative
• Arrange settlement and transfer of title

8. Proceed to Settlement

After fulfilling any conditions (e.g. loan approval or inspections), the sale becomes unconditional. You’ll then:

• Finalise your home loan
• Complete a pre-settlement inspection
• Settle the transaction on the agreed date and receive the keys

Key Tips

• Offers are not legally binding until both parties sign the contract.
• You can submit offers before or after an auction, but pre-auction offers must usually be unconditional.
• Make sure you act quickly in a competitive market—properties can sell fast.

Making an offer on a property in Victoria involves more than just naming a price—it’s about doing your due diligence, protecting your legal rights, and negotiating with clarity and confidence. With the help of a good conveyancer and clear financial planning, you’ll be well on your way to securing your next home or investment.

Need help reviewing a contract or understanding the next steps after your offer is accepted? A licensed conveyancer can guide you through the process and help you avoid costly mistakes. Contact Red Door Conveyancing on 03 8456 6797 for more in-depth explanation.