Making an Offer

You’ve found a home? Congratulations! Now, if you actually want to make it yours, you have to make a successful offer, one that the seller will accept.

Preparing the offer

REALTORS® are expertly trained and will prepare the offer for you. Here are some terms you’ll see in the offer.

Buyer or Purchaser
That’s you.

Seller or Vendor
The present owners.

Purchase Price
The most important number. Let’s hope the seller goes for it!

Deposit
A cheque you write to the seller’s broker, who deposits in a trust account. This is your way saying ‘my offer is serious’. The size of the deposit is up to you.

Chattels included and fixtures excluded
Be sure you know what is included with the house! The washer and dryer, the microwave, draperies, light fixtures. Don’t leave anything to ‘chance’ because chances are it won’t be there when you move in.

Irrevocability of the offer
The length of time you give the seller to consider your offer. Usually less than 48 hours.

Completion date
The glorious day you take possession! Often 30 or 60 days after signing.
Clauses particular to this agreement
Every transaction is unique, and your REALTOR® may add conditions important to you. Making your offer conditional upon a proper Home Inspection is a good idea.

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Find a home inspector

When walking through a home you’d love to buy, it’s hard to put aside your emotions and really ‘see’ what kind of shape it’s in. Now that you are buying, it’s time to see everything. Home inspections rarely cost more than a few hundred dollars, and their service can save you from unpleasant surprises when you move in.
Your offer to buy may be conditional upon a satisfactory home inspection
This is an increasingly standard condition on any resale home. If the seller doesn’t want you closely examining the home before you take possession, you have to wonder why.
Go with a qualified professional
Make sure your inspector is a member of The Ontario Association of Home Inspectors (OAHI). It’s your guarantee they have the training and experience for the job. Your REALTOR® can recommend several home inspection companies to choose from.
What will they check during the inspection?
Lots of stuff. Plumbing and electrical systems, the roof, visible insulation, walls, ceilings, floors, windows and the integrity of the foundation. They check for nasty stuff like lead paint, asbestos, mould, outdated and dangerous wiring, and they’ll look for evidence of pests like mice or termites. A good inspector should make you feel like you’re watching a CSI detective.
Join the inspection
There’s no better way to get familiar with your new home than this three-hour checkup. If any problems are detected, you’ll see them firsthand, and you’ll also learn some maintenance tips from a genuine pro.
You’ll get it in writing
Their report will summarize the condition of your home. If there’s anything that needs work, the home inspector will provide an estimated cost for the repairs.
Home inspection for a new home?
New does not equal perfect, and construction quality can vary greatly from builder to builder. In some provinces repairs and corrections in new homes will probably be covered by a government or industry sponsored warranty program, so bad news doesn’t necessarily mean it will cost you.

House hunting with your REALTOR® – hunting smarter

If you’ve been very good, you’ve armed your REALTOR® with your Dream Home Checklist Even if you’ve just talked about it, your REALTOR® knows what you’re looking for.
Welcome to the wonders of Real Estate
REALTORS® have access to an incredible house-hunting tool called the Multiple Listing Service® (MLS® for short). You can view information about MLS® listings at www.REALTOR.ca, the public advertising portal. Your REALTOR® will start sending you listings of potential homes right away. Most listings will have multiple photos, and some even have moving 360-degree views! You’ll be amazed how fast and easy it is to zero in on your favourite few homes.
Work from a short list
If you and your REALTOR® have done your homework, and used MLS® listings to scout ahead, you only need to visit a handful of homes to make an informed and wise selection.
Stay objective when visiting potential homes
Walking through a potential home is a thrill, but try not to lose your head. Don’t let a giant kitchen island or swanky hot tub distract you from your real goal, finding a home that meets all your needs and fits your budget.
That’s why we’re arming you with this comprehensive House Hunting Checklist. Print it out and be sure to take it with you to homes you’re serious about buying. Good luck and happy hunting!

Prepare your home for sale

Break out the mop and the paintbrush. It’s time to give your home a mini-makeover. Here are all the little things you can do to attract the big offers.
Time to see your home through a buyer’s eyes
Over the years, you’ve grown quite comfortable with your home’s little imperfections; the hole in the screen door, the chipped paint on the baseboards, the mess in the basement. Grab a clipboard, print out a copy of our Home Preparations Checklist and take a tour of your home.
Get rid of the clutter
Your house will feel a lot bigger and more inviting when you get rid of all the non-essential stuff lying around your house. Clear out those closets, remove bulky, unused furniture and rearrange the remaining pieces to make the best use of space. Fight your inner-pack rat at every turn. If you haven’t used something in the past year, toss it, donate it to charity or sell it in a yard sale.
Clean everything
Cleaning is the single most cost effective way to make your home more attractive to buyers. Floors, windows, walls, doors, baseboards… everything! Give extra care and attention to the two most important rooms in a buyer’s mind: bathrooms and kitchens. Once it’s clean, keep it clean! You never know what time or what day your ideal buyer will visit.
Repair as much as you can, within reason