Sellers

Elements of an Offer

There are six key components to the elements of an offer. They are:

Price

Depending on the local market conditions and information provided by me, your Real Estate Professional, the price you set may be different from the buyer’s offering.

Deposit

The buyer’s deposit shows good faith and will be applied against the purchase of the home when the sale closes. As your Real Estate Professional, I can advise you on an appropriate amount.

Terms

Includes the total price offered and the financing details. The buyer may arrange their own financing or ask to assume your mortgage, especially if it has an attractive interest rate.

Conditions

These might include “subject to home inspection”, “subject to the buyer obtaining financing”, or “subject to you selling your property”.

Inclusions and Exclusions

These might include appliances and certain fixtures or decorative items, such as window coverings or mirrors. These items would remain in the house after you vacate the premises.

Closing and Possession Date

Generally, the day the title of the property is legally transferred and the transaction of funds finalized.