Six Important Steps for Making an Offer

Elements of an Offer Explained

1. Pricing Details

If you choose to work with me, Reza Afshar, you can expect to make informed decisions based on industry data. With 15 years of experience, I will work with you to make the most appropriate bids/offers on the property of choice.

2. Upfront Deposit

Providing a deposit upfront demonstrates your interest and commitment to move forward with the home you’ve selected. This deposit will be applied to the purchase amount of your home once the transaction is finalized. I will work with you to determine the deposit amount that is best for your budget but still positioned well enough to lower your principal as quickly as possible.

3. Terms

Terms incorporate the overall transaction details and finance arrangements of your offer. You may organize your own financing or ask to take over the seller's current mortgage, particularly if it comes with a good interest rate. I will work with you to determine which solution is best for you.

4. Conditions

Conditions are a very important step in the buying process. The proposed agreement may incorporate "subject to home investigation", "subject to OAC (on approved credit)", or "subject to sale of your property". I will guide you through the contract conditions to ensure you fully understand before moving ahead.

5. Incorporations and Exclusions

Items such as appliances and certain installations or renovations, for example windows, upgrades, or mirrors can be negotiated into the offer.

6. Closing

This is the day the title of the property is transferred over and the transaction is finalized.


Making an Offer

 

When you’re ready to make an offer, being educated and informed about the offer process and the housing market is key to making a confident decision. That’s why I work closely with all my clients to ensure the offer is just right for you, so you can move into the home of your dreams right away.

Firm Purchase Offer

Is when the buyer is ready to purchase the home without any conditions. This is an ideal situation for any seller.

Conditional Purchase Offer

A conditional purchase offer is placed into contracts where there are certain criteria that need to be met before a sale is made. For example, “subject to home inspection”, “subject to approved financing”, or “subject to sale of the seller’s current home” are commonly used.

Accepting the Offer

The offer to purchase is presented to the seller who can approve the offer, reject it, or counter-offer. The counter-offer can reflect a number of offer details including the purchase price, closing date, or any of the aforementioned variables. Offers can be negotiated until both parties (buyer and seller) have approved all terms of the sale.