Getting An Offer

The Major Elements of an Offer

1. Price -  Depends on the market and the buyers, 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. I will be able to 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 buyer obtaining financing", or "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.