Offer To Purchase A Home, What You May Not Know

SELLING YOUR HOME, TIME TO GET TO WORK!

Here are four important things to look at in an offer you receive:

The closing date. This is the big day to plan around. It is helpful if you can move into your new home a day or two before your closing date to minimize your stress and also avoid conflicts with the Buyer’s schedule.
The contract requisition date (also known as the Title Search date). This is the last day where the Buyer’s lawyer has to search the title of the property to ensure that everything is in order. If there are concerns they will need to be addressed prior to this date.
Access visits – the Buyer (accompanied by their agent) may be entitled to see the house again before closing at mutually agreeable times – the specifics will be on a Schedule forming part of the offer. You will have to agree to these dates and times and you can reject them within reason if they conflict with your schedule – we aim to get as much advance notice as possible.
Appraisal – An appointment may be made by the Buyer’s bank or mortgage broker to appraise the home. This is usually a very quick 15-minute interior/exterior walk-through of your home. Usually, very little notice is given for these appointments, but the appointment desk will inform you of the Appraiser’s intent to inspect as soon as the request is received.

There are several options to facilitate the continuing appointments after an offer is accepted. We can discuss leaving a lockbox on your property for easy entry of approved parties, or I can retain a set of keys, or you can arrange to be home for these visits.