How do I compete in a multi-offer situation?
Highlands Property |October 2026
Set your budget, speak with your lender and have a solicitor or conveyancer check the contract. Then make a written offer that clearly states your price and any conditions. The seller may consider more than the price. These steps can help you make a stronger offer, but the seller may still choose another buyer.
Finding a home you love can be exciting. Hearing that other buyers want it too can make you feel rushed. Being prepared helps you make a clear decision without spending more than you can afford. This guide covers existing homes sold by private treaty in NSW. Private treaty means you make an offer to the seller through the agent, rather than bidding at an auction.
How much should I offer
Set the most you are willing and able to pay before you increase your offer. Look at recent sale prices for similar homes. Think about any repairs the property needs. Also allow for buying costs, such as transfer duty (often called stamp duty), legal fees, inspections and moving.
Ask yourself: would I still be comfortable paying this amount if no one else wanted the home? If not, take a moment before offering more.
What should I ask the selling agent
Ask the agent how the seller will review offers, whether there is a deadline and when the seller would like to settle. Settlement is when the purchase is completed and ownership changes. If the agent asks for your best offer, do not assume you will have another chance to raise it.
The selling agent works for the seller. Ask clear questions, but choose your offer based on your budget, your research and advice from your own professionals.
Can my terms make a difference
Yes. A seller may accept a lower price if other parts of the offer suit them better. For example, their preferred settlement date may also work for you. Ask your solicitor or conveyancer to check any conditions before you agree to them.
How can I be ready without rushing
Ask for the contract early. Have your solicitor or conveyancer review it and explain anything you do not understand. A conveyancer is a licensed professional who helps with the legal steps of buying or selling property. Ask your lender or broker what still needs to happen before your loan is fully approved.
Arrange building and pest inspections. For a home in a strata scheme, such as an apartment, arrange a strata report too. It provides information about the scheme’s finances and records. Being ready should not mean skipping important checks.
Should I give up my cooling off period
Do not give up your cooling-off period just because you feel rushed. For an existing home bought by private treaty in NSW, you usually have five business days after contracts are exchanged to withdraw from the purchase. A section 66W certificate removes this right. Ask your solicitor or conveyancer to explain the risks before you agree to one.
If you use your cooling-off right to withdraw, you usually lose 0.25% of the purchase price. Auction purchases have different rules. There is no cooling-off period if you buy at auction, or on the same day after the property fails to sell at auction. Ask your legal adviser which rules apply to you.
What should my written offer include
Include the property address, your offer price, the deposit you propose to pay, your preferred settlement date and any conditions. For example, a condition might make the purchase depend on loan approval. Include your contact details and those of your solicitor or conveyancer. Be clear about whether your loan is fully approved, and ask the agent to confirm they received your offer.
A written offer helps everyone understand what you are proposing. Ask your solicitor or conveyancer to make sure any agreed conditions are included in the contract.
Is the property mine once my offer is accepted
Not yet. In NSW, the sale becomes legally binding when the buyer and seller exchange signed contracts. Before then, the seller may accept another offer, even if they have already accepted yours. Keep in touch with your solicitor or conveyancer so you know what needs to happen next.
What if the price goes beyond my limit
You can stop making offers. Missing out is disappointing, but the home still needs to suit your budget and your life.
Buying in Bowral, Mittagong, Moss Vale or a nearby village? Call Highlands Property or send us a message. We can explain how to make an offer on a home we are selling and what happens next.