Before Signing the Mortgage Offer

What Home Buyers Need to Know Before Making an Offer

Congratulations! You’ve finally found your dream home.

Here is where things get very serious. Your real estate agent and/or lawyer will help you prepare your offer to purchase. Before you sign an offer, there are a few things you should know.

What Your Offer Must Include

When your offer to purchase is drawn up, it must include the following:

• Your legal name

• The name of the seller

• The property address

• The purchase price you are willing to pay

• The amount of your deposit

• Any extra items you expect to receive such as appliances or window coverings

• The closing date when you will take possession

• A request for a current land survey

• The date the offer expires

• Any other conditions such as a satisfactory home inspection

Common Conditions for a Purchase to Offer

Your offer to purchase will also add some common conditions, including:

• The seller being confirmed as the legal and registered owner of the property

• Resolving any issues discovered by your lawyers such as liens or defects

• That all complaints and concerns are made by you prior to signing and cannot be brought up once the offer is accepted

• A conditional sale based on you selling your current home if you own one or on your arranging financing

• The seller must provide a survey of the property

• A Status Certificate be provided when purchasing a condo

• The offer is void if problems are discovered during a home inspection

We can help answer any questions you might have regarding your mortgage and pre-approval to make the offer to the purchase process more comfortable.