Elements of an offer explained
There are six key components to the elements of an offer:
Depending on the local market conditions and information provided by your real estate professional, the price you offer may be different from the seller’s price.
Your deposit shows good faith and will be applied against the purchase of the home when the sale closes. As real estate professionals, we can advise you on an appropriate amount.
Includes the total price offered and the financing details. You arrange your own financing or ask to assume the seller’s mortgage, especially if it has an attractive interest rate.
These might include “subject to home inspection,” “subject to you 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.
Closing or Possession Date
Generally, the day the title of the property is legally transferred and the transaction of funds finalized.