Lake Properties
Lake Properties
You don’t have to take the highest number — take the best deal for you
Selling a house is more than a number on a page. The “best” offer is the one that gives you the most certainty, convenience and aligns with your goals — not always the one with the biggest price. Below I’ll walk you through everything to look for, with real-world examples and practical advice so you can choose confidently.
What “best overall terms” means
When you look at offers, compare all the moving parts, not just the purchase price. Important elements include:
- Financing type & strength — Cash offers or buyers with bond pre-approval are much less likely to fall through than buyers who still need financing.
- Deposit amount — A bigger deposit shows commitment and gives you extra security if the sale collapses.
- Conditions (suspensive conditions) — Fewer conditions (like “subject to sale of buyer’s property” or many inspections) mean a cleaner, faster sale.
- Transfer timeline — If a buyer wants transfer in 2 weeks but you need 8, the “best” timeline for them may be useless to you.
- Occupation/possession arrangements — Who moves in when? Will you need to vacate earlier or later?
- Flexibility & cooperation — A buyer who is easy to communicate with and flexible about minor matters is worth a lot.
- Special clauses — Items like “subject to seller providing certain repairs” or “furniture included” change the value of the offer.
Example: two offers, which is better?
Offer A
- Price: R1,000,000
- Buyer needs to sell their house first (subject-to-sale)
- Deposit: 5%
- Transfer in 12–16 weeks
Offer B
- Price: R990,000
- Cash buyer (no bond)
- Deposit: 10%
- Transfer in 4 weeks
Which is better? In many cases Offer B is stronger despite being R10k lower: it’s faster, more certain, and uses cash. Offer A could collapse if their sale falls through, costing you time, stress and possibly a lower final price later.
Step-by-step: how to evaluate offers like a pro
- Line-by-line comparison. Put offers in a table and compare price, deposit, conditions, timeline, occupation and any repairs requested.
- Check financing proof. Ask for bond pre-approval letters or proof of funds for cash buyers.
- Assess the deposit. Larger deposits reduce risk and usually speed up transfer.
- Weigh conditions. A single minor condition is different from multiple critical conditions (buyer subject to selling first, subject to major repairs, etc.).
- Think about timing. Does the buyer’s desired transfer date match your moving/purchase plans?
- Consider convenience and certainty. A lower-risk offer that closes cleanly might be worth more in practice.
- Talk to your conveyancer & agent. Confirm how any unusual clauses will affect transfer and costs.
- Negotiate. You can counteroffer on price or terms (shorten timeline, increase deposit, remove conditions).
- Get it in writing. Once you accept, ensure the accepted offer is properly recorded and the deposit paid by the buyer.
Negotiation tactics that work
- Counter on terms, not only price. If an offer is low but the buyer is flexible, ask for a higher deposit or a quicker transfer instead of rejecting outright.
- Invite best-and-final offers when you have multiple interested buyers — but do this carefully and fairly.
- Use timelines as bargaining chips. If a buyer wants you to wait, ask for a larger deposit or a break fee.
- Keep communication polite and firm. Clear, timely replies reduce misunderstandings that can derail a sale.
Common pitfalls to avoid
- Chasing the top number without reading the fine print. A large price can disappear under difficult conditions.
- Accepting a low deposit. Small deposits give buyers easy outs.
- Ignoring timing constraints. A mismatch in moving dates can cost you extra storage, rent or missed opportunities.
- Overlooking finance contingency risks. Buyers who haven’t started bond application are risky.
Practical checklist to use when offers arrive
- [ ] Purchase price (yes/no)
- [ ] Deposit amount & proof (yes/no)
- [ ] Cash or bond (proof attached)
- [ ] All conditions listed (yes/no) — what are they?
- [ ] Proposed transfer date(s) — acceptable?
- [ ] Occupation/possession terms — acceptable?
- [ ] Any repairs or inclusions requested — cost/impact?
- [ ] Buyer’s communication: responsive & clear?
- [ ] Conveyancer checked? (yes/no)
If you get multiple offers
- Compare them side-by-side with the checklist above.
- Consider asking each buyer to improve key terms (deposit, remove condition, faster transfer).
- Be transparent only as required by law and your agent’s process — don’t make promises you can’t keep.
Legal & practical note
In South Africa (and many other places) once you accept an offer and both parties sign, the agreement becomes legally binding subject to the terms in the contract. That’s why you should:
- Get your agent and conveyancer to review offers before signing anything.
- Confirm deposit payment procedures and timelines.
- Make sure any special conditions are clear and manageable.
Lake Properties Pro-Tip:
Before you commit, value certainty over pennies. A slightly lower but clean, cash-or-preapproved-bond offer that matches your timing and needs will usually save you time, stress and unexpected costs. Run every offer through a simple side-by-side checklist (price, deposit, conditions, timeline, occupation) — you’ll be surprised how often the “best” offer isn’t the highest number, it’s the one that actually gets you to the finish line.
If you know of anyone who is thinking of selling or buying property, please call me
Russell
Lake Properties
www.lakeproperties.co.za info@lakeproperties.co.za
083 624 7129
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