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Whether you’re making an offer on real estate in the Blue Mountain area, or receiving one, it’s helpful to understand the most important pieces of the puzzle. Here’s a quick overview.

1. Price
Depending on the market and the local market conditions, the price offered may be different from the asking price.

2. Deposit
The deposit shows the buyer’s good faith and will be applied against the purchase price of the home when the sale closes. Your REALTOR’ can advise you on the suitability of the amount of the deposit being offered.

3. Terms
Includes the total price the buyer is offering as well as the financing details. The buyer may be arranging their own financing or may ask to assume your existing mortgage if you have an attractive rate.

4.  Conditions
These might include “subject to home inspection”, “subject to buyer obtaining financing” or “subject to the sale of the purchaser’s property”.

5. Inclusions and Exclusions
These might include appliances and certain fixtures or decorative items, such as window coverings or mirrors.

6. Closing or Possession Date
Generally, the day the title of the property is legally transferred and the transaction of funds finalized unless otherwise stated (except in Manitoba and Quebec). Note: In B.C. the Possession Date is legally 1 to 3 days after the closing.

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