I found a property I love... now what?
When you decide you want to make an offer an a property, the first thing we will do if time permits is advise you to sleep on it and visit a second time. We determine whether there is an “offer day” or if they are accepting offers any time. In the “offer day” scenario, you will have to either wait until the requested day to make an offer, or provide a “motivating” offer to encourage a seller to consider your offer before the offer day.
What should my offer look like?
We will strategize with you on the key components of the offer: Price, closing date, deposit, any conditions or special clauses.
What are conditions?
Conditions are inserted into an offer to allow a buyer to do their due diligence on a certain topic before an agreement of purchase and sale becomes firm. Typical conditions are home inspection, financing, solicitor approval and status certificate review (condes). Due diligence can often be done in advance of the offer date.
What deposit do I need to provide and when?
A suggested minimum deposit is 5% of the asking price of a property depending on competition. The bigger the deposit, the safer the seller feels. This is supplied by bank draft or certified check on acceptance or within one business day of acceptance, depending on what is stipulated in the offer. It improves the strength of an offer to provide a deposit with the offer itself whenever possible.
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