Questions Sellers Can Ask About an Offer's Readiness

Start with the offer's written status

Buyers may use 'approved' to describe very different positions. They might have estimated borrowing capacity, lender pre-approval subject to further checks, a complete application under assessment or approval linked to the actual property and contract. Lender criteria and property valuation can still affect the outcome. The agent should report the buyer's stated stage accurately and avoid converting it into a guarantee.

Ask when the information was confirmed, by whom and what remains outstanding. A mortgage broker or lender can explain finance stages to the buyer; the agent's role is to gather relevant transaction information with consent and communicate risk to the seller. The seller does not need every private financial detail and should not receive documents that are unnecessary for making the offer decision.

First establish whether the proposal is an enquiry, verbal offer, written summary or signed contract. Consumer Affairs Victoria distinguishes informal negotiation from the contract process. Use precise labels in the seller report and send the actual document to the conveyancer; do not describe an interested buyer as secured or the property as sold prematurely.

Read the finance condition in the actual offer

Where a private-sale offer is subject to finance, the contract may identify a lender, amount and deadline. Those details affect the transaction more than a verbal statement that finance 'should be fine'. Consumer Affairs Victoria notes that a buyer subject to a loan should nominate a lender in the relevant contract section. The seller's conveyancer should review the exact wording and any proposed change.

Compare condition periods and notice requirements, but do not assume shorter is always better if it is unrealistic. An unworkable deadline can produce renegotiation or dispute. The useful question is whether the buyer has a credible path to satisfy the condition within the proposed time, while recognising that neither the agent nor seller controls the lender's final decision.

Repeat the exercise for building inspection, sale-of-property or other stated conditions. Ask what event must occur, by when and what information remains outstanding, while leaving interpretation to the seller's legal adviser. An offer with several manageable conditions may be more ready than a vague proposal whose apparent simplicity has not been documented.

Check the deposit and other property dependencies

Finance is only one part of readiness. Clarify the proposed deposit amount, payment timing and whether the buyer needs funds from another property. A subject-to-sale offer introduces a separate dependency and should identify the buyer's sale position for legal review. A purchaser who has already sold unconditionally may present a different timetable from someone whose property is not yet listed.

Do not infer reliability from occupation, age, postcode or apparent wealth. Use information directly relevant to the transaction and obtained appropriately. Privacy laws may regulate collection, use and security of personal information. Sensitive documents should stay within the agency's approved systems, and the seller should receive a concise risk summary rather than an unnecessary copy of the buyer's financial life.

Ask whether the proposed settlement connects to the buyer's sale, finance approval or another fixed event. Compare that timetable with the seller's move and any linked purchase. A date written in an offer is a proposed term, not proof that every dependency has been coordinated or that settlement is guaranteed.

Compare finance risk with price and settlement

A higher conditional offer may be worthwhile, but its price should be considered alongside the probability and timing of satisfying conditions. A lower offer may provide cleaner terms, yet still carry settlement or default risk. Put each proposal into the same comparison: price, finance clause, building or sale conditions, deposit, settlement, expiry and evidence of preparation.

Ask the conveyancer what each condition permits and what happens if it is not satisfied. The agent can seek clarification or invite a revised offer, but should not draft legal language. If the seller counters, record every change in a new or clearly amended written proposal so there is no ambiguity about which terms are under consideration.

Treat pre-approval as useful but limited evidence

Pre-approval can indicate that a lender has made an initial assessment, but it may be conditional, time limited and not tied to the property. Changes in income, liabilities, lender policy, interest rates or property valuation may matter. Ask whether the buyer has shared current evidence with their broker or lender and whether the contract price sits within the assessed position, without offering financial advice.

The agent should avoid telling the seller that finance is 'guaranteed' or 'as good as cash'. If a buyer offers without a finance condition, that is a contractual choice, not proof that external finance is irrelevant. The buyer needs their own advice about that risk, and the seller needs legal advice on the offer they may accept.

Use a disciplined offer-verification note

For each buyer, record the finance representation, source and date; whether a condition is proposed; lender, amount and deadline if stated in the contract; deposit; settlement; and any sale dependency. Mark unverified statements plainly. This gives the seller a fair comparison and prevents confident conversation from becoming an unsupported claim in the file.

Finance information can change between offer and signing, so reconfirm material points when negotiations move. This guide cannot assess an actual buyer or replace advice from the buyer's finance professional and the seller's conveyancer. The final decision should be made from the written contract, lawfully obtained information and the seller's own advice, not a generic score or agent assurance.