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It is prudent to obtain the assistance of your real estate agent, a lawyer or a
notary to ensure that the offer is as it should be. Read the document and ask
questions if you require clarification before signing. The offer should outline
all terms and conditions of the sale such as:
- The proposed purchase price
- Your name, the name of the vendor and the legal and civic address of the
property you are offering to purchase
- A list of all items included in the purchase price, for example fixtures,
appliances. The offer should also contain any additions or exclusions
- Specific details of all financial arrangements, for example, the amount of your
deposit, any mortgage arrangements should you be assuming the mortgage etc.
- The closing date for the sale of the property
- Any conditions attached to the sale for example a home inspection, financing
approval, the sale of an existing home as well as any obligations to be met by
the vendor such as repairs
- The length of time the offer is in effect which can be hours or even weeks
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