When it comes time to make an offer, your Royal LePage Gale Realty Real Estate Professional will guide you every step of the way. They will provide you with current market information so that you can make an informed decision as to what price to initially offer and will consult with you throughout the negotiating process.
Your Gale Realty Professional will also draft an offer that will address all your concerns and questions. They will ensure that the terms and conditions included in your Agreement has been tailored to the facts and your circumstances.
Your Royal LePage Real Estate Professional will communicate the offer, (Agreement of Purchase and Sale*), to the seller, or the seller's representative, on your behalf. Sometimes there may be more than one offer on a property coming in at the same time. Your Royal LePage Real Estate Professional can guide you through this process and explain all the options that are available to you.
* The Agreement of Purchase and Sale is a legal and binding document that specifies the terms and conditions under which you wish to purchase the home.
The Offer Can Be Firm or Conditional
Firm Offer to Purchase: usually preferable to the seller, because it means that you will be purchasing the home, and the seller can make their own personal moving plans based on your binding unconditional offer. If your firm offer is accepted, break out the champagne ... the home is yours!
Conditional Offer to Purchase: means that you have placed one or more conditions on the purchase, such as "conditional upon an acceptable home inspection", or conditional upon obtaining satisfactory financing" or "conditional on the sale of your existing home". This means that the home is not sold until all the conditions have been met. With some conditions the seller may still be able to offer the property to another buyer, however you still have first right and need to advise the seller if served notice if you will be proceeding with the purchase or allowing the seller to sell to the other buyer.
Acceptance of the Offer
Your Offer to Purchase will be presented as soon as possible. The seller may accept the offer, decline it, or submit a counter-offer to you. The counter-offer may be in reference to the price, the closing date, conditions or any number of variables. The offers can go back and forth a number of times until both parties have agreed on price, terms and conditions or if one party ends the negotiations.