Selling a house in Canada can be a complex process, and receiving an offer can be a significant milestone for a seller. However, many people are unsure about what to expect when they receive an offer for their house. In this blog post, we will discuss what happens when you receive an offer for your home.

When a buyer is interested in purchasing a home, they will submit an offer to us (the selling agent). An offer will typically include the purchase price, the proposed closing date, and any conditions that the buyer has requested. These conditions may include a home inspection or financing approval. You (the seller) can accept the offer, reject it, or counter the offer with changes to the proposed purchase price or closing date.

If the offer is accepted, the buyer will typically have a period of time to satisfy any conditions that were included in the offer. For example, if the buyer requested a home inspection, they will have a certain number of days to complete the inspection and decide whether or not to proceed with the purchase. If the buyer is unable to satisfy the conditions within the specified time frame, the offer may be terminated.

Assuming that the buyer satisfies all of the conditions, the sale will proceed to closing. The closing date is the date on which ownership of the property is transferred from the seller to the buyer. On the closing date, the buyer will provide the agreed-upon purchase price, and the seller will transfer ownership of the property to the buyer. The buyer will also be responsible for paying any closing costs, such as legal fees and land transfer taxes.

Summary

• It’s important to carefully review the offer and understand the conditions that are included.
• Our qualified and experienced real estate advisors can help guide you through the process and ensure that you understand all of the terms of the offer.
• By knowing what to expect, you can make informed decisions and ensure a smooth transaction.