Once you have found a property that you like, we will prepare an offer with terms and conditions recommended by us and approved by you. We will then negotiate on your behalf to get you the best deal possible. The offer typically has the following key elements:
- PRICE: the price at which you wish to begin the negotiations. Together we would determine the appropriate strategy to pursue and we would provide you with information regarding an appropriate offer amount.
- DEPOSIT: typically 5 - 10% of the purchase price, paid upon subject removal to the Buyer's brokerage, and held in trust for the transaction. It forms part of the total purchase price.
- DATES: there are three dates that need to be determined:
- completion date: the date you pay in full, title is transferred from the seller's name to yours, and you are officially registered at the Land Title's Office as the owner.
- possession date: the date you get to move in, this is typically two to three days after completion so as to allow the seller time to vacate the property and clean it.
- adjustment date: the date you start paying the bills! This is generally the same day as the possession date.
- SUBJECTS: conditions on the contract that allow you to do your due diligence on the property. As the buyer, you normally have one to two weeks to satisfy yourself with regard to the subjects. A subject most people are familiar with is the inspection clause. There are other subjects that are also important to include that we will review in detail with you when we prepare your offer.
Should all of the subjects be met to your satisfaction, subjects are formally removed via an addendum to the contract, the deposit is paid, and the deal is considered final and binding.
COMPLETION AND POSSESSION
We will advise you once the sale has completed and is registered at the Land Title's Office. Then, upon the date of possession, we will get all keys to the property and be there to welcome you to your new home!
As experienced REALTORS® , you know that when you work with us, you will have professional guidance throughout the entire process outlined above. Any questions or concerns that may come up along the way, will be dealt with thoroughly and to your satisfaction.