Making an Offer That Stands Out

You've found the one. Now the offer has to be strong enough to win and sensible enough to live with.

Tips for a strong offer

• · Do your research — set fair market value from recent comparable Guelph sales, not the list price
• · Understand the market — a buyer's market and a seller's market call for different tactics
• · Make it attractive to the seller — closing date and flexibility often matter as much as price
• · Offer something you feel good about — competitive, but inside your budget and long-term plan
• · Prepare for multiple offers — deposit ready, conditions considered carefully, decisions made in advance

The parts of an offer

• · Price — what you'll pay
• · Deposit — good faith, usually 1%–5% of the purchase price, delivered on acceptance
• · Conditions — financing, inspection, status certificate review, lawyer review
• · Closing date — coordinated with your financing, your lease or your own sale
• · Inclusions and exclusions — appliances, fixtures, anything leased such as a water heater

After your offer is accepted

• · Submit your deposit to the listing brokerage, typically within 24 hours
• · Book the home inspection immediately so it fits inside the condition window
• · Send your lender everything it needs to finalize the mortgage
• · Retain a real-estate lawyer for the title search and document review
• · Arrange home insurance — most lenders require proof before closing
• · Review the closing-cost estimate your lawyer prepares
• · Complete a final walkthrough before closing day

While your financing is being processed, avoid job changes, large purchases and new credit — any of these can change your qualification.