Making an Offer

Making an Offer

When you make an offer to buy a home, there are five main elements to consider:

Price?
The price you offer reflects your opinion of the value of the house and is determined by the condition of the property and local market factors.

Deposit?
The deposit shows your good faith and will be applied against the purchase of the home when the sale closes.

Terms?
Include 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.

Conditions?
Conditions are items that must be completed or fulfilled prior to an offer being concluded. These can include being subject to a home inspection, your ability to obtain financing, or to the selling of your existing property.

Inclusions and exclusions?
Your offer may be contingent on certain items being either included or excluded in the sale. These might include appliances, fixtures, and decorative items, such as window coverings or mirrors.