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1. Price
2. Deposit
3. Terms
4. Conditions
5. Inclusions and
Exclusions
6. Closing or Possession
Date
Offer to Purchase
is a legal document which specifies the terms and conditions
of your offer to purchase the home.
The offer can
be Firm or Conditional.
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: means that you have placed one or more
conditions on the purchase, such as "subject to home
inspection" or "subject to sale of buyer's existing home". the
home is not sold until all the conditions have been met.
Acceptance of the 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.
HIRE A LEGAL PROFESSIONAL
A legal professional is there to represent your interests and
to process the legal documentation required.
Nina Deeb can
provide you with the names of legal professionals who
specialize in real estate.
The legal
process differs from province to province. or your legal
professional will advise you on the steps to be taken before
the keys to your new home are presented to you.
HAVE THE HOME INSPECTED (OPTIONAL)
Having the
property inspected by a qualified home inspector may give you
the added confidence that you've made the right decision.
When the
procedure is complete, you will likely receive a full written
report plus estimated costs for any necessary repairs. |
