You have found your dream home and you want to make an Offer to Purchase. What information do you need to make this offer?
In Alberta, most offers to purchase real estate are contained in a standard form prepared by the local real estate board. These forms will cover the following information:
- the names of the seller (vendor) and the buyer (purchaser);
- the title of the property (legal and municipal);
- the agreed purchase price and whether or not GST and GST rebate is applicable;
- deposit amount and portion of the purchase price to be financed, if required;
- information on applicable interest in case of delays in closing due to unforeseen circumstances;
- information on terms and conditions of the contract;
- a full list of items that are to be included in the purchase (e.g. garden shed, blinds, appliances, etc.);
- property inspection requirement;
- deadlines for removal of conditions, if any;
- default information (how can either party walk away from a deal/exit strategies);
- all signatures need to be witnessed, usually by the realtors or via docusign.
For a limited time, Kiriak Law will be offering an additional 10 % off our legal fees for real estate transactions. All you need to do is mention this blog when we open your file.
Contact us either via our website or send me an email to set up a consultation.