With the Bank of Canada appearing to to be done with rate increases and the incoming stability that results of the rate holds, buyers in the Windsor real estate market will begin the buying process once again. After searching and viewing homes for sale in Windsor and finding one, it is time to make an offer. This can be a high stress and nerve-racking time as a buyer, you'll have questions about just what exactly you are doing and if you are making the best decision. We've put together a list of our most common questions and answered them here for you.
There are many options, and every house is different. Your REALTOR® can provide guidance as to which conditions may be necessary in your situation. For example, the offer could be conditional on a home inspection, financing, the buyer obtaining insurance, etc.
A conditional offer includes one or more conditions that need to be fulfilled before the offer is firm. A firm offer is one with conditions that have been fulfilled or one without any conditions at all.
A deposit lets the seller know you are serious about the offer. The amount given depends on the price of the house, but is typically $5,000 or more. The standard wording in the offer requires the deposit to be delivered to the listing brokerage within 24 hours of offer acceptance. If more time is needed, this should be clearly stated in the offer.
Every offer has an irrevocable date and time. This identifies how much time the seller has to either accept your offer or make a counter offer. If nothing is done, the offer is null and void beyond the irrevocable date and time.
Typically the seller pays the commission to both the listing agent and the buyer’s agent in a residential real estate transaction.
All new home owners are eager to get their keys on closing day, but the truth is that it usually doesn’t happen until later in the day. Your lawyer has until 6 p.m. on the closing day to transfer the title and complete his or her responsibilities.
Here at Jump Realty our agents will give you honest advice on what course of action is best for you in their professional opinion and will always put taking care of your best interests first! With offices in Windsor, Tecumseh, Kingsville, LaSalle, Harrow, Chatham, and Leamington, no matter where you are, a Jump agent is ready to help. Please contact us for any housing needs and let us give you a better real estate experience!
