Depending on local market conditions, your opinion of value and the market information we provide you, the price you offer may be different from the seller’s asking price.
The deposit shows your good faith and will be applied against the purchase of the home when the sale closes. Usually it is 5% of the purchase price, but I can also advise you on an appropriate amount. If you do not have access to 5% of the purchase price within 24 hours, it is a good idea to speak with your bank about obtaining an unsecured line of credit from which a certified cheque or bank draft can be issued. Having a certified cheque or draft for at least 5% of the purchase price ready to submit to the seller’s agent’s office within 24 hours of the
offer date, is a requirement of all offers to purchase property.
Please note: If you have a ‘virtual’ bank account such as ING Direct or PC Financial, it may take longer to access your funds than through a traditional bank – please inquire with your bank on how to best arrange this.
These might include ‘subject to home inspection’, ‘subject to the buyer obtaining financing’ or ‘subject to additional deposits’, to name a few examples
5. Inclusions & Exclusions
These might include appliances and certain fixtures or decorative items, such as window coverings or mirrors.
6. Closing or Possession Date
Generally, this is the day the title of the property is legally transferred and the transaction of funds finalized unless otherwise specified.