When it comes time to make an offer, your Real Estate Professional can provide current market information and will assist you in drafting your offer.
Your agent will communicate the offer, sometimes known as an Offer to Purchase, to the seller, or the seller’s representative, on your behalf. Sometimes there may be more than one offer on a property coming in at the same time.
FIRM OFFER TO PURCHASE
Usually preferable to the seller, because it means that you are prepared to purchase the home without any conditions. If the offer is accepted, the home is yours.
CONDITIONAL OFFER TO PURCHASE
Usually means that you have placed one or more conditions on the purchase, such as “subject to home inspection”, “subject to financing” or “subject to sale of buyer’s existing home”. The home is not sold until all the conditions have been met.
ACCEPTANCE OF OFFER
Your Offer to Purchase will be presented as soon as possible. The seller may accept the offer, reject it, or submit a counter-offer. The counter-offer may be in reference to the price, the closing date, or any number of variables. The offers can go back and forth until both parties have agreed or one of you ends the negotiations.
There are six key components to the elements of an offer. They are:
Depending on the local market conditions and information provided by your agent, the price you offer may be different from the seller’s price.
Your deposit shows good faith and will be applied against the purchase of the home when the sale closes. Your Real Estate Professional can advise you on an appropriate amount.
Includes the total price offered and the financing details. You arrange your own financing or ask to assume the seller’s mortgage, especially if it has an attractive interest rate.
These might include “subject to home inspection”, “subject to you obtaining financing”, or “subject to you selling your property”.
INCLUSIONS AND EXCLUSIONS
These might include appliances and certain fixtures or decorative items, such as window coverings or mirrors. These items would remain in the house.
CLOSING OR POSSESSION DATE
Generally, the day the title of the property is legally transferred and the transaction of funds finalized.
This entry was posted on May 21, 2016 by Jim and Iris
It is with great pleasure and appreciation for me to recommend the services of Jim Gardiner and the entire Gardiner Team. Jim’s awareness of community by-laws and market related activities extracted incremental value for us when we were finalizing the purchasing agreement.JB – Mirror Lake
Just want to tell you that you did a fine job for me on the cottage sale on Lake Muskoka. The sale has removed a huge load from my shoulders. Iris, just a note to thank you again. Money is in the bank!!!!!!BJ – Lake Muskoka
Just a short note to thank you for all of your time, and sharing of your extensive knowledge and expertise of “cottage country” in Muskoka. We’d strongly recommend you to anyone else considering the purchase of a property in Muskoka!J & T
The Gardiner Team was attentive to the things that I responded to during the first few showings and promised that they would find exactly what I was looking for. You know what? They were right. It worked out perfect. I just love it, I love the location, the cottage; I love everything.AT – Lake Muskoka (Quoted from Muskoka Showcase)
The vacation time is always too short. It is so nice here! Thank you for finding this great cottage for us!FW – Lake Muskoka