Preparing an Offer
When you have viewed a home on the market that you really want, you may wish to submit an offer. Normally, this process is reserved for established clients who have already completed the preliminary paperwork.
Preparing the Offer can take up to 2 hours and is a formal process. The other agent under provincial regulation must provide the seller with a disclosure form prior to presenting the offer. Due to the new requirements, this process can be slower and each party can make an non pressure informed decision.
This is the document that is presented to the seller that basically states:
the price you’re offering, the dates, and the conditions.
The price we go in with is critical. You want it to reflect a respectable market value of the property, this is also coupled with a deposit so the seller will take your offer seriously. The offer is expected to have some changes brought back for our consideration. This may take hours or days. It’s rare to have a flat out rejection, but it may not always be based on price.
How the Process Works
When you decide to make an offer on a home, here’s what typically happens:
- Give plenty of notice, most will consider during business hours, we do not produce or submit offers outside of our client schedule of services unless specifically requested.
- We have to have copies of all of your identification on file
- You should be available in person for signatures be ready for several communications by phone.
- Be competent and familiar with electronic document signing by use of computer or smart device.
- Know with confidence a price range that has the best chance of being accepted by the seller.
- Provide a copy of your pre-approval or be able to show proof of capacity
- Be aware of the obligations and costs in order to complete the stated conditions.
- Have a minimum of $1000 on hand for deposits to accompany the offer.
- Prepared to adjust or absorb requests or statements inserted into the contract.
- Willingness to sign and initial multiple sets of the necessary documents
- Submit your offer to the agent of the seller within reasonable time frame.
- Negotiate skillfully with the seller’s agent, towards a goal of acceptance.
- I’ll communicate with you by phone throughout the entire process.
Making an offer may seem simple, but we want to do it right and in a professional manner. Depending on the type of property and due to the requirement of several documents to be processed, offers take time to prepare. These are submitted in accordance to the industry procedures and standards. We then keep you informed of the progress of the transaction during the negotiation process, which is normally done by several phone calls and using a electronic signature service for corresponding documents.
Following the above gives us s the advantage of being chosen for acceptance. This is why our success rate is high and the reason for many satisfied past buyer clients.
Have questions about making an offer or if there are any fees involved? Please submit the form below or call or email me.