The Major Elements of an Offer

Terms and conditions for any Agreement of Purchase and Sale /Offer MUST be tailored to the facts and circumstances of the Parties in any transaction.

It is extremely important at time of offer preparation that you express all your concerns, needs and wants to me so that I can address your concerns, needs and interests when preparing the offer. Remember I am there to taylor make the offer to suit your needs.

1. Price
Your price will be your opinion of value based on current market conditions and information. The price you offer may be different from the seller’s asking price.

2. Deposit
The deposit shows your good faith and will be applied against the purchase of the home when the sale closes.

3. Terms
Includes the total price offered, the financing details, chattels in good working order, right to revisit prior to closing, survey etc. You may arrange your own financing or ask to assume the seller’s mortgage, especially if it has an attractive interest rate.

4. Conditions
These might include “subject to home inspection”, “subject to you obtaining financing”, “subject to you selling your property” “subject to obtaining home insurance”, “subject to Seller property Information Statement” etc.

5. Inclusions and Exclusions
These might include appliances and certain fixtures or decorative items, such as window coverings or mirrors.

6. Irrevocable
Time the Seller has to accept your offer and in which time you (the Buyer) cannot retract your offer. Note: If Seller is countering your offer, it is the same as a new offer from the Seller to you and can be done after the expiration of the irrevocable time.

7. Closing or Possession Date
Generally, the day the title of the property is legally transferred and the transaction of funds finalized unless otherwise specified

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