How To Make A Confident Offer As A First Home Buyer
Making an Offer on Your First Home: A Clear, Confident Guide
Buying your first home is exciting, but when it’s time to make an offer, the process can feel confusing and fast-moving. That’s why this guide exists.
Whether you're bidding at auction or negotiating a private sale, this guide will walk you through how to make an offer that protects you, supports your goals, and gives you the best chance of securing the right home.
In this guide, we’ll cover:
The role of a conveyancer (and when to engage them)
The difference between auctions and private sales
How to assess price and value
What to include in your offer
Key conditions that protect first home buyers
What happens after your offer is accepted
Let’s take the pressure out of this step and help you make a clear, calm, confident offer.
Get a Conveyancer on Board Early
Before you put in an offer, have a conveyancer ready to go.
A conveyancer handles the legal side of buying a property. They review contracts, help structure your offer, and flag any hidden risks. Don’t wait until after your offer is accepted, you’ll have limited time and more pressure.
What a good conveyancer does:
Reviews the contract in plain English
Spots red flags (like unfavourable clauses or hidden fees)
Adds protective conditions (e.g. subject to building and pest inspection or a finance clause)
Makes sure your offer is legally sound
Tip: Ask your broker for a recommendation. Avoid big-name platforms that don’t offer personal service. You want someone responsive and proactive, especially when time is tight.
Understand How the Property is Being Sold
Before making an offer, clarify whether it’s a private sale or auction. Each has different rules and risks to be aware of.
Private Sale
This is where you submit an offer (usually in writing) and negotiate with the agent and vendor.
Pros:
You can include conditions (finance, building & pest, longer settlement)
You can walk away during the cooling-off period (in most states)
Things to ask the agent:
Is there a deadline for offers?
Will I be notified if someone else offers more?
Will my offer be shared with other buyers?
Tip: Let the agent know you're serious, it could get you a second shot if offers escalate.
Auction
At auction, the highest bidder wins and it’s unconditional. There’s no cooling-off, no conditions, and no backing out once the hammer falls.
Before auction day:
Get your pre-approval sorted
Have the contract reviewed
Do your building and pest inspection beforehand
Set a clear walkaway price before going to the auction
Key Definitions:
Reserve price: The minimum the seller will accept
On the market: Bidding has passed reserve, the home will sell
Passed in: Didn’t meet reserve, highest bidder may negotiate privately
Understand Property Value (Not Just the Price Guide)
Price guides are just that, a guide. They’re based on recent sales, vendor expectations, and market conditions. But they’re not a ceiling.
To build your own estimate:
Check recent comparable sales (same suburb, similar size, land, layout)
Attend local auctions to see real-time buyer behaviour
Know your walkaway number, what the property is worth to you
Structuring a Strong Offer
Making an offer isn’t just about picking a number and crossing your fingers. A great offer is both strategic and protective, it shows the seller you’re serious while ensuring you’re not agreeing to terms that could backfire later.
This is the moment where everything you’ve worked towards, inspections, research, conversations starts coming together into an offer. And here’s the golden rule:
If it’s not in writing, it doesn’t exist.
Even if the agent or seller gives you a verbal agreement, it means nothing unless it’s written into the contract and signed by both parties.
A clear, well-structured offer should include:
Purchase price
Deposit amount and timing
Settlement period
Conditions (finance, building & pest, strata etc.)
Inclusions (e.g. appliances, furniture, curtains)
Special terms (e.g. rent-back, early access, agreed repairs)
Real example: One client was told the fridge and furniture were included, but it wasn’t in the contract, so the vendor took everything. Always get inclusions in writing.
Conditions That Protect You
When you make an offer on a home, the right conditions can give you peace of mind and protect you from costly surprises. They’re especially important in private sales (not available at auction), and they’re a key part of making a smart, strategic offer.
Here are the big ones to know:
Cooling-Off Period
The cooling-off period gives you a short window after signing the contract where you can change your mind usually just a few days, and withdraw from the purchase with no penalty.
Important: Cooling-off periods only apply to private sales, and the length and rules vary by state. There’s no cooling-off at auction. Here is the state by state breakdown.
Finance Clause
This clause protects you if your lender doesn’t approve your loan after your offer is accepted.
Including a finance clause means that if your loan is declined, you’re not legally locked into the purchase.
Timeframe: Most finance clauses run for 10–14 days after signing the contract.
Just be aware: this clause can make your offer less attractive to the seller, especially in a competitive market. That’s where speaking with your broker is important, they can help you decide whether to include it based on your specific situation.
Building & Pest Inspection Clause
A building and pest inspection gives you the right to have the home professionally checked before finalising the sale.
Why it matters:
It can uncover major issues like termites, mould, structural movement or roof damage.
If significant problems are found, you can either walk away or renegotiate the price
Even if the home looks great on the surface, a thorough inspection gives you peace of mind that there’s no hidden trouble underneath. It might cost a few hundred dollars, but skipping it could cost you thousands down the track.
Strata Report (for Apartments, Townhouses & Villas)
If you’re buying into a strata property, like a unit or townhouse, you’re not just buying the four walls of your apartment. You’re buying into a shared building, with shared responsibilities and shared costs.
That’s where the strata report comes in. This document outlines the financial and physical health of the building and can tell you:
How much money is in the sinking fund (used for future repairs)
Whether there are major works planned (e.g. lifts, roofing, waterproofing)
If there have been recent disputes between owners
Any signs of issues like water damage, leaks or fire safety breaches
Without this report, you could be walking into years of special levies and unexpected repairs.
Strata can be complex, but the right report, reviewed by your conveyancer, can save you serious headaches down the line.
At First Home Unlocked, we’re big on helping first home buyers feel empowered, not pressured. Including smart conditions in your offer gives you flexibility, clarity, and peace of mind as you move toward settlement.
They might not sound exciting, but they’re one of the biggest differences between a calm buying experience and a stressful one.
How to Present a Strategic Offer
When it comes to making an offer, price matters, but it’s not the only thing that counts.
Before you put pen to paper, take the time to understand what the vendor actually wants. Ask the agent:
Do they need a longer or shorter settlement?
Are they looking for a quick sale?
This insight can help you shape an offer that’s more attractive even if it’s not the highest price.
Sometimes, a slightly lower offer with better terms (like flexibility or certainty) can win over a higher offer with too many conditions or delays.
Final Contract Checks
Before signing anything, get your conveyancer to review the final contract.
They’ll check that everything you’ve agreed on is captured in writing, including:
The correct purchase price and deposit amount
Any conditions (finance, inspections, strata etc.)
Inclusions (like furniture or appliances)
Settlement date and payment terms
If it’s not in the signed contract, it doesn’t exist, even if the agent said it would be included. Always get it in writing.
What Happens After Your Offer Is Accepted
Once the seller accepts your offer and both parties sign the contract:
You’ll pay the initial deposit
The contract becomes legally binding
Timelines for any conditions (finance, inspections) officially begin
Your broker will submit the signed contract to your lender to start the formal approval process
This is where your loan moves from pre-approval to full assessment, which we cover in detail in Episode 8 of the podcast.
Final Thoughts
Making an offer isn’t just about negotiating — it’s about protecting yourself and positioning your offer wisely. When you take the time to get the details right, you:
Reduce your risk
Increase your chances of success
Avoid stress later in the process
So surround yourself with a good team, ask the right questions, and don’t rush. You’ve got this.
Want more support?
Listen to Episode 7 of First Home Unlocked for a full breakdown of how to make a confident offer. Or if you're planning to buy your first home, book a Chat With Jack to talk through your options and take the next step with confidence.
