|
MAKING AN OFFER
When you have chosen a property you
wish to own, it's time to make a formal "Offer
to Purchase". Even
if you have had discussions with the seller
and think you have arrived at an agreement, you
will need to sign an offer to purchase.
Writing everything down in the beginning helps
to avoid misunderstandings.
-
, it is important to have a schedule.
-
, needs to be specific.
-
, be sure he is the owner.
-
, the name that you want on the title.
-
, make provisions for a counter offer.
-
, this validates an offer.
-
t, very important for a contract purchase.
-
, usually upon closing but is flexable.
Dont be afraid to make an offer. Prices may vary substantialy between similar properties. Offer an amount that you feel is a price that both you and the buyer can be happy with. That is what determines the actual value, not the asking price.
If the Seller wants to change
some provisions of your offer, he may counter-offer,
which should also be in writing. If you both agree, you sign that counter-offer
and proceed to satisfy the terms on the contract.
Review property taxes
as well as stamp duties and legal fees. You
will want to include a provision for a title search.
When "Buying with Credit" it
is advisable to register your sale agreement with the Lands Department as
an "Agreement
for Sale", on the
title, until the mortgage is satisfied you can
take pocession of the deed.
Set forth ALL the details
and sign the offer.
Make the offer good for a specific
period of time.
Previous Page |
