?> offer of purchase and sale - Ahmed Amin Real Estate Broker https://ahmedamin.ca Wed, 01 Jun 2011 04:14:36 +0000 en-US hourly 1 https://wordpress.org/?v=7.1 Conditions of purchase and sale offer https://ahmedamin.ca/conditions-of-purchase-and-sale-offer/?utm_source=rss&utm_medium=rss&utm_campaign=conditions-of-purchase-and-sale-offer Wed, 01 Jun 2011 04:14:36 +0000 http://ahmedamin.ca/?p=124 Conditions of purchase and sale offer Before presenting Purchase and sale offer to a seller you must be sure that all inclusions and conditions are reflecting your best interest. Make sure to follow all recommendations of your real estate agent in Toronto. The most important conditions are listed below however more conditions can be added if you wish or if your real estate agent suggests adding in order to avoid any complications at later stage. Each condition states time limit to be waved otherwise the offer will be null & void and the deposit will be returned in full to the buyer. Main conditions are usually related to the financing, home inspection and property title clearance. Some additional important conditions are various based on type of property. For offers to buy houses in Toronto, recent land survey and conforming to zoning by laws conditions are main requirements. As for condominiums in Toronto, a status certificate for the condo corporation checked by your lawyer is a must, especially if you consider one of the condominiums downtown Toronto. A closing date or transaction date is a part of the purchase and sale offer inclusions, but considered as a condition. This is the date when funds are transferred from the buyer financing company to the seller, final contracts are exchanged between lawyers, and buyers’ name is registered to property title as the owner. The closing date can be very important negotiating factor. Sometimes sellers accept offers with lower price because of the fixable closing date, in case seller needs time i.e. to buy a new property and to move in there or for any other reason. However, there are situations when the owner needs to close the deal as soon as possible, and so he or she is willing to accept the offer with matching closing date even if the offered price is much lower than the property asked price. There is a common conditions recently added to an offer of purchase and sale. If the owner wants to buy another property, selling of the subject property will be conditional to buying a new one. Or if the buyer wish to sell his current property before buying a new one, his offer for the new property will be conditional upon selling his old one. This is a legitimate condition and you may see it in your offer.

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Before presenting Purchase and sale offer to a seller you must be sure that all inclusions and conditions are reflecting your best interest. Make sure to follow all recommendations of your real estate agent in Toronto. The most important conditions are listed below however more conditions can be added if you wish or if your real estate agent suggests adding in order to avoid any complications at later stage. Each condition states time limit to be waved otherwise the offer will be null & void and the deposit will be returned in full to the buyer.

Main conditions are usually related to the financing, home inspection and property title clearance. Some additional important conditions are various based on type of property. For offers to buy houses in Toronto, recent land survey and conforming to zoning by laws conditions are main requirements. As for condominiums in Toronto, a status certificate for the condo corporation checked by your lawyer is a must, especially if you consider one of the condominiums downtown Toronto.

A closing date or transaction date is a part of the purchase and sale offer inclusions, but considered as a condition. This is the date when funds are transferred from the buyer financing company to the seller, final contracts are exchanged between lawyers, and buyers’ name is registered to property title as the owner. The closing date can be very important negotiating factor. Sometimes sellers accept offers with lower price because of the fixable closing date, in case seller needs time i.e. to buy a new property and to move in there or for any other reason. However, there are situations when the owner needs to close the deal as soon as possible, and so he or she is willing to accept the offer with matching closing date even if the offered price is much lower than the property asked price.

There is a common conditions recently added to an offer of purchase and sale. If the owner wants to buy another property, selling of the subject property will be conditional to buying a new one. Or if the buyer wish to sell his current property before buying a new one, his offer for the new property will be conditional upon selling his old one. This is a legitimate condition and you may see it in your offer.

The post Conditions of purchase and sale offer first appeared on Ahmed Amin Real Estate Broker.

]]> Buying condominiums in Toronto part “3” https://ahmedamin.ca/buying-condominiums-in-toronto-part-3/?utm_source=rss&utm_medium=rss&utm_campaign=buying-condominiums-in-toronto-part-3 https://ahmedamin.ca/buying-condominiums-in-toronto-part-3/#comments Wed, 11 May 2011 04:34:50 +0000 http://ahmedamin.ca/?p=90 Buying condominiums in Toronto You did your research, exhausted your resources, chose a very good Toronto real Estate agent & studied all factors required to be considered before buying condominium in Toronto mentioned ( in part 1 & 2 of this article) under basic & details factors; it is time for the most important step in the entire process of buying your new home. Drafting offer of Purchase and sale. Your Toronto Real Estate agent will help you putting that offer, filling the details and setting the price and proper conditions to protect your rights, it is very important to understand every detail; condition and obligation set in that contract, if the offer was accepted by the seller and all conditions were waved. The offer will become binding contract and lawfully both buyer and seller are committed to that contract. The inclusions of purchase and sale offer must be clear with absolutely no space for confusion or misunderstanding. Set of conditions must be included in that offer to protect the buyer rights; you don’t have to worry about those conditions as this is the work of your Toronto Real Estate agent. Any Real estate agent in Toronto knows that setting the price in purchase and sale agreement is their top duties at this stage. They don’t want to upset their clients after they found the perfect home. There are many methods that realtors in Toronto are trained by which they can get accurate results in regard to the market price of the property. many buyers believes that they can set the price without any help of their real estate agent, they will be considering listing prices for similar condos specially condominiums downtown Toronto. However real estate agent in Toronto has access to actual selling prices not the listing ones.

The post Buying condominiums in Toronto part “3” first appeared on Ahmed Amin Real Estate Broker.

]]> Buying condominiums in Toronto

You did your research, exhausted your resources, chose a very good Toronto real Estate agent & studied all factors required to be considered before buying condominium in Toronto mentioned ( in part 1 & 2 of this article) under basic & details factors; it is time for the most important step in the entire process of buying your new home. Drafting offer of Purchase and sale.

Your Toronto Real Estate agent will help you putting that offer, filling the details and setting the price and proper conditions to protect your rights, it is very important to understand every detail; condition and obligation set in that contract, if the offer was accepted by the seller and all conditions were waved. The offer will become binding contract and lawfully both buyer and seller are committed to that contract.

The inclusions of purchase and sale offer must be clear with absolutely no space for confusion or misunderstanding. Set of conditions must be included in that offer to protect the buyer rights; you don’t have to worry about those conditions as this is the work of your Toronto Real Estate agent.

Any Real estate agent in Toronto knows that setting the price in purchase and sale agreement is their top duties at this stage. They don’t want to upset their clients after they found the perfect home. There are many methods that realtors in Toronto are trained by which they can get accurate results in regard to the market price of the property.

many buyers believes that they can set the price without any help of their real estate agent, they will be considering listing prices for similar condos specially condominiums downtown Toronto. However real estate agent in Toronto has access to actual selling prices not the listing ones.

The post Buying condominiums in Toronto part “3” first appeared on Ahmed Amin Real Estate Broker.

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