Buying > Making An Offer

You have found your new home!

Now is the time to prepare an offer. This document is standardized by the Ontario Real Estate Association. Take some time to read through it and familiarize yourself with the elements of it. You may ask your lawyer you go through it with you if you like.

One thing that become increasing important when you are preparing and submitting an offer is that you always are reachable by phone, fax or in person. As offers are susceptible to time frames, you must be able to respond sometimes within only a few hours. All parties  that will have their name on the property title must sign ALL documents EVERY time.

The Perhar Team

Get A Full Guide on Making An Offer

The first step in preparing the Agreement of Purchase and Sale is to determine the price that you are willing to offer the seller

The Price

The first step in preparing the Agreement of Purchase and Sale is to determine the price that you are willing to offer the seller. This price may or may not be the same as the seller’s asking price. You must also indicate the deposit you will be submitting upon acceptance of the offer. The cheque will be cashed immediately and if the deal falls through, it will be 10+ days to get the cheque returned

Completion Date

The completion date is also known as the closing date. This is the date that you would like to take possession of your new home. Again, the seller may include stipulated their referred completion date, typically the buyer has last say on the closing date.

Inclusion / Exclusions

The second step involves stating a list of exclusions and inclusions. Usually this seller will have suggested what they would like to include in this section, however, it is up to you what gets included in the offer.

Title Search

This is the time that you will allow you, in conjunction with your lawyer to examine the title to the property. Your lawyer, or agent will be able to avise you on an acceptable time frame.

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