SELLER’S OPTIONS AFTER RECEIVING YOUR OFFER

Once your offer to purchase has been presented to the seller, they have four seller’s options:

  1. Accept your offer outright: If the seller accepts your offer exactly as it was written it becomes a legally binding contract.
  2. Reject your offer: The seller can just say no; they’re under no obligation to accept your offer or to even propose a counter offer.
  3. Ignore your offer: The listing agent must present your offer, but the seller doesn’t have to acknowledge it or respond.
  4. Make a counteroffer: The seller could return your offer to you with some proposed revisions. This is considered a counteroffer and returns the ball to your court to make another acceptable offer to the seller.

OFFER ACCEPTED

CONGRATULATIONS, YOUR OFFER HAS BEEN ACCEPTED!

Wondering what’s next? Here are the steps from accepted offer to subject removal:

  • Financing. Obtain financing approval from your lender. Send the Contract of Purchase and Sale, Property Disclosure Statement (PDS), and property feature sheet to your mortgage specialist. For Strata properties they may request strata documents and a Form B.
  • Review all documents. You will need to review the Property Disclosure Statement, which informs you of any known issues with the property and the Title Search for items attached to the title to the property. For Detached houses (non-strata) review the permit history, and oil tank scan certificate (if any), confirm zoning and whether there are any unauthorized/authorized suites. For Condos & Townhouses (strata) review all strata documents, and if there are any renovations confirm that they were done with strata approval.
  • Deposit. Ensure that funds are available, and provide a bank draft made out to your Realtor’s Brokerage in trust.
  • Insurance. We recommend obtaining an insurance quote for the property. For detached homes, lenders insist on property insurance because your property is their security for your mortgage. Property insurance covers the replacement cost of your home, so premiums may vary depending on its value. An insurance broker can help you with your insurance needs.
  • Utility bills. We recommend requesting utility bills (electric, gas, water & sewer). This will give you an idea of what it will cost to run your new home.
  • Home inspection. The home inspector’s role is to inform you of the property’s condition. He/she will tell you if something is not functioning properly, needs to be changed or is unsafe. You will also be informed of repairs that need to be done and he/she may even be able to tell you where there may have been problems in the past. If work is required, we will help with recommendations.
  • Contract changes. If you are requesting changes to the contract, prepare and sign an addendum. *Note that this could open up the contract and provide an out for the seller.
  • Remove subjects. Once you have fulfilled the conditions, written notification should be given to the seller that you are removing the subject clauses.

YOU’VE BOUGHT A HOME!

You have bought a home!

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WHAT OUR CLIENTS ARE SAYING

“Thank you so very much for helping us purchase our first home! We truly appreciate your hard work and honesty. Looking forward to finding our next home with you next time”
John & Taneem
“Thank you so very much for helping us purchase our first home! We truly appreciate your hard work and honesty. Looking forward to finding our next home with you next time”
Jinsil & Zubin
“Thanks for all your hard work James. You’ve been very patient with us, and we had a much better experience with you than our previous realtor. Keep doing what you’re doing…”
Jen
“Wow! What an amazing Realtor you are. Phenomenal in both selling and purchasing of homes this year for our family. You are laid back and efficient at your job and with your clients. It has been a great experience to have worked with you. I will recommend you to all our friends and you will be our Realtor for life!”
Nadine & Princeton
“We want to send you a heartfelt thanks for everything you did for us during the whole process of selling our home. It was a stressful time for us but you made the process so much easier. We very much appreciate the extra time you put into easing our concerns.”
Brett & Paige
“Thank you so much for your excellent job in selling my Dad’s property in Renaissance Square. The sale was quick, efficient and well communicated to all involved and we were happy with the selling price. Additionally, your thoughtfulness helped immensely to ease any concerns of my Dad, myself and my brother. Your additional help in identifying service and tradespeople to help with the process was also greatly appreciated. I would have no hesitation in referring you to friends and family.”
Claudia
“We always felt we were in great hands and that you always maintained all of our interests as a top priority. It was a pleasure to see your professionalism and thoughtfulness combined. It was really appreciated.”
Stephen Loyd
“We absolutely love our place!. Often, we can’t believe we live here… We recommend you every time a friend is looking for a Realtor and will continue to do so. We really appreciated everything you did for us and for making the whole affair rather painless.”
Shawna & Scot
“…you’ve been so informative and made us all feel as if you really wanted to help us acheive our goal. Thanks again, you’re very good at what you do. Keep in touch…”
Sherin
“… thank you for talking with me about all the questions I raised. We appreciate your professional, dedicated as well as personable service…”
Francis
“We would like to let you know how much we appreciated the great job you did for us in selling our condo. You’re a very nice guy. Hope to do business with you in the future…”
Evelyn & Roger