Making an Offer
In the offer, we will specify what you, the buyer, are willing to pay for said property, state when the offer expires, and suggest a closing date for the property. Some conditions you may consider to place in the offer are as follows:
- Obtaining adequate financing.
- selling your current home (the seller may continue to market the property, but will give you the right of first refusal);
- the seller providing a current survey, or a “real property report,” showing the location of the house on the property owned by the seller and that there are no encroachments;
- the seller having title to the property (your lawyer will check this out when he or she conducts a title search to see if there are any liens on the property, easements, or rights of way).
- if there is a septic system, the seller should have the system inspected and provide the proper documentation that such an inspection has taken place and everything is in proper working order.
- Every home should be inspected by a professional home inspector.
- Any inclusions – basically, what stays and what goes (ie the Fridge, Stove, Dishwasher, Pool Table, etc).
In addition, you will need to present a deposit to the Seller, which demonstrates your good faith as a buyer to move forward with the purchase on the closing date agreed upon in the purchase agreement. The value of your deposit is usually ~5-10% of the value of the home.
From here, it’s all about negotiating. I will meet with the Co-operating Brokerage’s Representative, and do everything in my power to take you one step closer to you owning your dream home.
