Guide to BUYING Your Home

      The Major Elements of an Offer

1. Price
Depending on the local market conditions, your opinion of value and market information provided by your Real Estate Professional, the price you offer may be different from the seller's asking price.

2. Deposit
The deposit shows your good faith and will be applied against the purchase of the home when the sale closes. Your Real Estate Professional can advise you on an appropriate amount.

3. Terms
Includes the total price offered and the financing details. You may arrange your own financing or ask to assume the seller's mortgage, especially if it has an attractive interest rate.

4. Conditions
These might include "subject to home inspection", "subject to you obtaining financing", or "subject to you selling your property".

5. Inclusions and Exclusions
These might include appliances and certain fixtures or decorative items, such as window coverings or mirrors.

6. Closing or Possession Date
Generally, the day the title of the property is legally transferred and the transaction of funds finalized unless otherwise specified (except in Manitoba and Quebec). Note: In British Columbia the Possession Date is legally 1 to 3 days after closing.

Return to Guide to BUYING Your Home

Please note: when using Modern Living's forms please fill out all REQUIRED FIELDS, or the form will not work. Thank you. Modern Living has answers to your questions and more professional tips to make your real estate transaction more pleasurable. Call or e-mail Modern Living or click on "Ask Your Own Questions." Modern Living can send you information on any Property Listed For Sale on the Multiple Listing Service in the Ottawa area. If you would like us to help you locate a home, please fill out our Information Request Form. Or perhaps you are considering selling your home in the near future, we can also offer you a Complimentary No Obligation Market Evaluation Form

Site Index: Home Page Properties For Sale  |   Profile  |   Resourced Center  |   C.M.H.C. Schooling in the Area  |   Our Privacy Policy  |   Contact us  |   The Ottawa Market Links  |   Email Modern Living

---

© 2009/10 - Modern Living Realty Inc., Brokerage
Designed and maintained by:
John Smillie / Lasting Impressions