Price is the most visible part of an offer, so buyers assume it decides the outcome. Sellers weigh up more than the number.
Settlement timing matters. A vendor who has not yet bought their next home may value a longer settlement, or the ability to rent the property back for a period, more than an extra few thousand dollars. Certainty matters too. An offer with finance approval already in place and few conditions attached carries less risk of falling over than a higher offer with several hurdles still to clear.
Which is how a buyer occasionally secures a property while offering less than a competing bid. The terms suited the seller's situation better.
Working out what a vendor actually needs takes a conversation with the selling agent and some judgement about what is driving the sale. Buyers who treat the contract as seriously as the price tend to do better, particularly when several offers arrive on the same property.
Transcript
Think the highest offer always wins? Think again. I've seen buyers secure properties while offering less than competing properties. Why? Better settlement terms, flexible timing, fewer conditions. The contract matters just as much as the price. Want to know how contract terms can give you an edge? Drop me a message.
