Letter of Offer
It is to be understood that:
The Vendor(s) will make the final decision as to which offer is accepted.
The Vendor(s) may elect to accept an offer prior to the advertised Expressions of Interest date or Auction date.
When making an offer you should submit your best and highest, as you may not get an opportunity to alter it once presented to our vendor. Remember that price is a major factor with any offer so we encourage you to submit the highest price you can. However, price is not the sole determining factor that the Vendor(s) will consider. Terms can be equally important to the Vendor(s). Terms include settlement period and conditions. Obviously, an unconditional offer is seen as being stronger than an offer with conditions such as subject to finance for example.
Should multiple offers be received on the same or very similar terms the Vendor may elect to continue negotiations with two or more buyers. This will ensure a transparent negotiation until one offer is accepted by the vendor.
Only the best few offers will be formalised into contract format. Only offers in contract form will be presented to the vendor. Failure to comply with this requirement will allow the opportunity to negotiate and sell to other buyers. For this reason, we recommend your legal representative checks over the Contract and/or Section 32 prior to offers being presented or the closing/auction date.