THE SELLER’S VIEWPOINT
Discuss with your RE/MAX agent your minimum conditions, acceptable closing dates, and the lowest price you’ll accept from a potential buyer. Let your agent know of any additional items that you are willing to offer as leveraging power. With this information your agent can work with the potential buyers’s agent to create an offer that will be acceptable to you.
Buyers interested in your home will submit an offer to your RE/MAX agent through their agent. Your agent will review the offer with you to ensure that you understand all the conditions. Before you accept or sign back the offer, you may wish to clarify the offer with your RE/MAX agent and if you have any further concerns you can have the agreement reviewed by a lawyer.
WHAT YOUR OFFER WILL CONTAIN
Names of the potential purchaser
The conditions they wish to attach to the purchase :
price, closing date, survey, home inspection
An irrevocable date
A description of the property
Possible mortgage details
Remember that the offer you receive will also include funds that you are to pay for such as your lawyer, real estate agent commission, the balance of your mortgage and outstanding taxes. Some utilities and taxes will have been prepaid, meaning you’ll have some additional funds.
EVALUATING AND ACCEPTING OFFERS
Evaluating the Offer
Decide on the lowest acceptable price before you receive the first offer. When you receive the offer you will be able to take into consideration the price, as well as the other terms that the purchaser is requesting. Carefully look over all terms and conditions with your agent to ensure that the offer is understood. Any questions about the proposed offer can be clarified through your agent.
Accepting the Offer
Once you’re satisfied with the terms and conditions of the offer, you can accept it. The purchaser will pay a deposit to solidify the agreement. The deposit will be held and when the deal is closed it will be applied to the commission owed.
YOUR LAWYER’S PART
Your lawyer will assist you in making the sale of your home hassle free by :
- Reviewing the purchase agreement
- Preparing the transfer of title documents and inform the purchaser’s lawyer
- Reviewing mortgage transactions
- Closing the transaction
- Paying the appropriate commissions
- Paying outstanding claims against the property
- Arranging for the mortgage to be paid (if necessary)
- Forwarding the balance of the money from the sale to you
- Providing a complete statement reporting all transactions