Making an Offer to Purchase

Once you have found the Mississauga Homes for sale you would like to purchase, you need to present the vendor with an Offer to Purchase or an Agreement of Purchase and Sale.  As you home is probably you biggest investment, it would be wise to work with your real estate agent and/or a lawyer/notary in preparing your offer.  Remember that the Offer to Purchase or Agreement of Purchase and Sale is and legal document and should be carefully prepared.

Any offer or agreement will typically include:

- Your legal name, the name of the vendor and the legal civic address of the property
- The purchase price offered
- The chattels that will be included in the purchase price (e.g. window coverings, appliances etc.) Whatever items in or around the home that you think are included in the sale should be specifically stated in your offer
- The amount of deposit
- The closing day (date you take possession of home) – usually 30-60 days from the date of the agreement.  It can also be 90 days or longer
- Request for a current land survey of the property
- Date when the offer becomes null and void
- Any other conditions that go with the offer, including property inspection and approval of mortgage financing.

The process of making an offer, receiving a counteroffer an then revising it again is not uncommon.  The whole process can seem like a roller coaster ride – exciting, but stressful.  It’s all a part of making the deal work best for you and the vendor. The best defense is to know your Home Values Mississauga or to have a home evaluation done on your home.

Offer to Purchase – A written contract setting out the terms under which the buyer agrees to buy the home.  If the Offer to Purchase is accepted by the seller, it forms a legally binding contract that binds those who have signed it to certain terms and conditions.