Types of Offers
 

After reviewing the homes with the Agent to identify the home of your choice, you will discuss the options available to you. You are now ready to make an Offer. Below is a short synopsis of the type of offers and what an offer can entail.


Firm Offer to Purchase


More often than not, a firm offer to purchase is most preferable to the seller because it means the buyers are prepared to purchase the home without any conditions. The buyers understand what they are buying; they understand that they are not making it conditional on Financing arrangements and/or Home Inspection and they are basically buying the house as-is.


Conditional Offer to Purchase

This usually means that the offer has been accepted, the terms of the offer are acceptable to both the Seller and the Buyer and that there are one or more conditions on the purchase, such as "subject to home inspection", "subject to financing" or "subject to sale of buyer's existing home".  When this offer is accepted, the home is now conditionally sold – as there are conditions to be met.


Presentation and options of Acceptance of an Offer

The process is as follows:
An Offer from the Buyer  is presented to a seller who review the contents of the offer with his Agent. The Agents explain to the Sellers what’s being offered, the term and timelines and closing date as well as the price being offered.


 

The Seller options are:

Seller may accept the offer, reject it, or submit a counter-offer (sign-back). The counter-offer may be in reference to the price, closing date, or terms within the offer. Offers can go back and forth until both parties have agreed to terms or either side ends the negotiations.

Buying

Making an Offer

Types of Offers

Closing Costs

Land Transfer Tax

How Much Can I Afford?

Title Insurance Explained

Renting vs. Home Ownership

Elements of an Offer Explained

Greater Savings

What to Expect from Your REALTOR®

 

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Green Home Works Realty Inc., Brokerage
Independently owned and operated


51 Teddington Avenue
Markham, ON L3R 6T6

 

38 Mumberson Court
Markham, ON L6C 1Y4

 

Phone: 416-289-2890
Fax: 647-725-2147
E-mail Us

 

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