Making an Offer

When you find your dream home, you and I will need to determine what price to offer and fill out the standard form called the Contract of Purchase and Sale.  I will present your offer to the seller, who will accept, reject, or make a counter-offer.

Negotiating and Acceptance

If your offer is accepted, you will still need to remove the subject clauses before the sale is finalized.  If your offer is rejected, there is no deal.  If the seller presents a counter-offer in which some of the terms are changed, you are then free to accept the counter-offer, reject it or make a counter-offer.

Completion

Once your offer is accepted you will need to carry out a number of steps and fulfill certain legal requirements before the completion of the transaction.

• Pay the deposit amount you agreed to in the contract.  This will be kept in trust and will become part of your down payment.
• Have the home inspected.  If you need, I can recommend a few qualified certified home inspectors. 
• Satisfy the conditions and subject clauses set out in the contract. 
• Finalize your mortgage
• Purchase Homeowners' Insurance.
• Hire a lawyer or notary public.  If you don't have a lawyer or notary, I will recommend a few. Your lawyer/notary will:
  • Search the title to make sure it is free of complications.
  • Make sure the property taxes are up to date.
  • Prepare all the documents to transfer ownership to you.
  • Ensure that the seller's mortgage is discharged.
  • Prepare a Statement of Adjustments showing the money you owe.
  • Arrange for the transfer of money from your lender to the seller.
  • Ensure you are registered as the owner in the Land Titles Office.

Completion

Your lawyer/notary will pay the seller and register the home in your name with the Land Title Office and you will get the keys to your new home.

Congratulations! You are now, the owner of your dream home!