The Major Elements of an Offer
1. PRICE
Depends on the market and the buyer, but generally, the price offered is different
from the asking price.
2. DEPOSIT
The deposit shows the buyer's good faith and will be applied against the purchase
price of the home when the sale closes. Your Sutton Group Premier Realty Real
Estate Professional can advise you on the suitability of the amount of the deposit
being offered.
3. TERMS
Includes the total price the buyer is offering as well as the financing details.
The buyer may be arranging his/her own financing or may ask to assume your existing
mortgage if you have an attractive rate.
4. CONDITIONS
These might include "subject to home inspection", "subject to
the sale of the purchaser's property".
5. INCLUSIONS and EXCLUSIONS
These might include appliances and certain fixtures or decorative items, such
as window coverings or mirrors.
6. CLOSING or POSSESSION DATE
Generally, the day the title of the property is transferred to the buyer and
funds are received by the seller, unless otherwise specified (except in Manitoba
and Quebec).
NOTE: In B.C. the possession Date is usually 1 to 3 days after the closing.
Return to Sellers Guide
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