How to Make an Offer?

Once you have determined what your offer will consist of, it will need to be presented to the seller in a form that is easy to understand; legal and qualified (you are pre-approved for a loan).

Your Condosource agent will put together your purchase offer and present it to the seller. Following are some of the details involved in making a purchase offer.

Parties: The name of the seller and the buyer

Address Description: This includes the address, title reference, and description of the property.

Consideration: Often called earnest money, this is the amount you are willing to put up in cash to show the seller you are committed to the deal. This money is forfeited if you do not meet the conditions set out in the purchase offer.

Purchase price: The amount you will pay to acquire the property

Date of Closing: This is the date the closing will take place if the offer to purchase is accepted.

Contingencies: This is an event that must be satisfied in order for the sale to go through. They often involve financing, i.e., loan approval, property inspection and disclosures.

Other Requests: There are clauses you add to the contact to give you flexibility in the negotiation process and protect you in the sale.