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Negotiate the Best Terms Possible
After our discussions, I will know the minimum conditions, acceptable
closing dates, and lowest price you'll accept from a potential purchaser.
Make certain we have some leveraging power with chattel you're willing
to agree to in the offer.
By knowing your parameters, I can work with the potential purchaser's
agent to create an offer that will be acceptable to you. After all,
it comes down to bargaining and persuasion.
The
Offer from the Seller's Viewpoint
Interested buyers will submit an offer to Re/max Hometown through their
agent. I will take you through the offer to ensure that you understand
all aspects of it. Before you accept or sign back the offer, you may
wish to take the offer to a lawyer and make certain that every detail
is legally accurate and in your best interest.
Your offer will contain:
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The
names of the potential purchaser |
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Your name |
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A description
of the property |
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The conditions
they wish to attach to the purchase:
- price
- closing date
- chattels
- survey
- home inspection |
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An irrevocable
date (you have until this date to accept, or sign back a counter
offer) |
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It may also
contain mortgage details (for instance, the purchaser may wish to
assume your mortgage or may wish you to discharge it) |
Very often, the first thing vendors look at is the offer's purchase
price. Remember that it is not all yours. You'll have to pay your:
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-
lawyer
- real estate agent
- bank (for the balance of your mortgage and for any prepayment
or discharge penalties)
- taxes (if there are any outstanding) |
On the bright side, you'll probably have pre-paid a number of things
like utilities, and taxes, so you'll be getting additional funds as
well.
Your
Lawyer
Here's what your lawyer will do to assist you in making the sale of
your home hassle-free:
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Do
a complete review of the purchase agreement |
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Provide answers
to the purchaser's lawyer regarding title |
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Prepare transfer
of title documents |
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Review any
mortgage transactions |
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Close the transaction |
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Pay the appropriate
commissions |
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Pay any outstanding
claims against your property |
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Pay off your
mortgage (if necessary) |
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Forward the
balance of the money from the sale to you |
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Provide a complete
statement reporting all transactions |
Evaluating
the Offer
Before the first offer even comes in, you should have in mind, how low
you'll go on price, what conditions you'll accept and what terms would
be agreeable. Then, when an offer comes in, you have a set of criteria
by which to evaluate it.
Scrutinize all of the details, chattels, closing date, conditions, address
and description of your property, provisions and deposit.
You and I will thoroughly go over every detail. If there's anything
you don't understand, ask!
Accepting
the Offer
Once you're satisfied that offer has met your criteria, you'll want
to accept it. To ensure that your purchaser won't get cold feet, you'll
want a deposit. The deposit will be held in trust by Re/max Hometown
Realty Inc. and when the deal is closed it will be applied to the commission
owed.
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