... 🏠, include an 'offer expiration' clause in your offer.

Published: Sat, 03/18/23

Hi ,

Also known as a sunset clause, it is wise to include an "offer expiration" clause in any offer that you make to purchase property.

Such a clause states a date and time when your offer will expire and will encourage a Vendor to make a decision or risk losing a sale. It will also encourage an agent to act quickly to ensure your offer is presented to the Vendor promptly.

Ideally, a sunset clause should expire 24-48 hours after you submit your offer. Also make the time the offer is to expire by 4pm or 5pm on any given day and never allow a sunset clause to run over a weekend.

Making a clause expire by 5pm on Friday encourages a Vendor to make a decision regarding your offer PRIOR to the weekend, which is the time when most property purchasers are out looking in the market. It is far better to have the Vendor look at your offer without the distraction of other competing offers.

By including an expiration clause, you can also better manage any offers you have made and limit your exposure to having an offer accepted after you have moved onto another deal.

Like to know more about the services we offer as a Buyers Advocate? Talk to us about how we can help you achieve the best outcome when you purchasing your next home.

To book a free 20 minute connection call, simply click here and choose a time convenient to you. Alternatively, give me a call on 03 9686 2288 to discuss how I can help.

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Wouldn't you?

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What our happy clients have to say...

We love hearing what our happy clients have to say about their experiences with Chamberlain Property Advocates. We helped Stephen and Connie negotiate a property purchase.

Here is what they had to say about his experience of working with a Buyers Advocate:

At Chamberlain Property Advocates, we find it immensely satisfying working with buying and selling clients alike. We helped Stephen and Connie purchase their home, to make it easy and stress-free. Let us help you too!

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Wendy's Tips

"If the home you are looking to purchase and move into is currently tenanted with a renter in place, under Victorian law you need to provide 65 days notice to a renter for them to vacate the property. Keep this in mind when looking at your settlement period. It is standard and common in Victoria to purchase with a 60 day settlement. If you have a 60 day settlement, but need to give 65 days notice to a renter, you will be inheriting a renter. If you ask for a 70 day settlement when purchasing the property, this will allow for the required 65 days notice for the renter to vacate, plus an extra 5 days for the property manager to do their final inspection and the house to be ready prior to settlement."

Wendy Chamberlain, Buyer's Advocate

Wendy in the media

In May 2022, Wendy featured on the ABC Report, sharing her insights and knowledge on the RBA latest interest rate rise announcement and the affect it could have on the Australian Property market.

Read article here

Where is Wendy speaking next?

Wendy Chamberlain has been invited to speak at BNI Action Referral on Wednesday, 29th March.

With Easter just around the corner, the real estate market in Melbourne is a very different landscape to what it was this time last year. What your plans for real estate? Whatever they may be, we are here to help.

Reach out on 03 9686 2288, book a time to chat here or send an email to [email protected] and we can make a time for a connection call to explore your plans.

I'd love to help and make things easy for you too.

With gratitude,

GPO Box 2000
Melbourne VIC 3001
AUSTRALIA

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