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• GETTING READY TO PURCAHSE • SCHEDULING YOUR FINANCES • ANALYSING HOMES • MAKING AN OFFER • CLOSING THE PURCHASE • First Time Home Buyers

MAKING AN OFFER

8. Make an offer

At last, you've found a home! Now, if you really want to make it yours, you have to make a successful offer, one that the seller will acknowledge.

Organizing the offer
Royal Lepage Flower City Realty Inc. can arrange the offer for you. Here are some terms you'll see in the offer.

• Buyer:
That's you.

• Seller:
The present owners.

• Purchase Price:
The most significant number. Let's hope the seller goes for it.

• Deposit:
A cheque you write to the seller or the seller's broker. This is your way of saying 'my offer is serious'. The size of the deposit is up to you.

• Property included and fixtures:
Be certain you know what is included with the house—the washer and dryer, the microwave, draperies, light fixtures. Don't leave anything to 'chance'.

• Conclusiveness of the offer:
The length of time you give the seller to consider your offer. Generally less than 48 hours.

• Completion date:
The wonderful day you take ownership! Often 30 or 60 days after signing

• Sections particular to this agreement:
Every deal is exceptional, and you may want to add conditions that are important to you, such as a proper home assessment. Royal Lepage Flower City Realty Inc. can help make sure no details are ignored in your offer.

Presenting the offer
You've signed on the dotted line and Royal Lepage Flower City Realty Inc. has provided your offer to the seller. The seller can accept your offer.
Fantastic, when do you approach?

The seller can reject your offer
It's not common for an offer to be completely rejected. If it was, Royal Lepage Flower City Realty Inc. Will inspect why and see if there was some mistake.

The seller can 'sign back' or oppose your offer. The seller wants to alter some part of your offer – most likely the price. The seller will cross out the price on your offer and write a higher number, or delete or alter some conditions. Now it's your turn to sign back with any additional changes or your approval of the opposed offer.

9. Find a home inspector

When you're purchasing a home, you must inspect every last detail. Home examinations hardly ever cost more than a few hundred dollars, and can save you from horrible surprises. Royal Lepage Flower City Realty Inc. can help suggest several home inspection companies to choose from.

• Make a provisional offer based upon an adequate home inspection
This is an increasingly standard condition on any resale home. If the seller doesn't want you to closely examine the home before you take ownership, you have to question why.

• Go with a competent professional
Make sure your inspector is a member of a renowned professional association. It helps provide some guarantee they have the guidance and skill for the job.

• What will they check during the assessment?
Various things like plumbing and electrical systems, the roof, visible insulation, walls, ceilings, floors, windows and the reliability of the base. They also check for lead paint, asbestos, mould, obsolete and unsafe wiring, and proof of pests like mice or termites.

• Join the assessment
Get up close and recognizable with your new home. If any problems are noticed, you'll see them direct, and learn some preservation tips from a professional.

• You'll get it in writing
Their report will review the state of your home. If there's anything that needs work, the home assessor will provide an projected cost for the repairs.

• Home examination for a new home?
New home does not mean perfection. Construction quality can vary greatly from builder to builder. In some provinces, maintenance and alterations in new homes may be covered by a government or industry-sponsored warranty program. But this doesn't necessarily mean it will have to cost you.