Protect Yourself When Making An Offer
My job as a Realtor is to keep up to date with the changing real estate laws in Fort St. John BC. Sellers must comply with certain disclosures. Another aspect of my job is to ensure that they do as well as answer any questions a buyer client may have when making an offer on a home purchase.
When making an offer on a home the agreement will address all legal requirements and specify all terms and purchase price. For example, if the sellers agree to do any repairs prior to settlement than this should be included when making an offer.
Once an offer is signed and agreed to by all parties it is considered a legal binding contract. Here are some things that you should include when making an offer.
- The legal address of the property.
- Sales price.
- Terms. Is this going to be a cash deal? Or is this subject to the buyers obtaining financing?
- Seller’s promise to clear title.
- Target date for the settlement (the actual sale)
- Amount of earnest money deposit accompanying the offer.
- An agreement about who is going to pay for any utilities or inspections.
- Any contingencies
What is a home contingency?
If your offer says, “This offer is contingent on a certain event,” this means you intent to go through with the sale only if that event occurs.
There are two common contingencies:
- Home Inspections
Get Your Offer In Writing
Whether you are buying or selling be sure to put everything in writing. When working with me I will ensure that your interests are protected. I truly understand that selling and buying a home is one of the biggest decisions you will probably make in your life time. I know a lot of your money on the line and my job is protect your assets. Let’s sit down and review your options when purchasing a home or selling your home in Fort St. John. Give me a call or email me today.