The Offer

What goes into making a strong offer.

Guide

An Agreement of Purchase and Sale is one of the most important documents you'll sign. Here's what you need to understand.

An offer sets out the price, deposit, conditions, and closing terms. Once accepted and all conditions are waived, it becomes binding.

A financing condition gives you time (usually 5–10 business days) to secure your mortgage approval.

For condos, a status certificate condition allows you to review the reserve fund, rules, and financial health of the corporation.

An inspection condition gives you the right to walk away if the inspection reveals major issues.

Federal legislation requires realtors to verify client identity to prevent money laundering.

The deadline by which the seller must accept, counter, or reject your offer.

The date title transfers and you receive keys — typically 30–90 days after acceptance.

The date by which your lawyer must raise any title objections.

Typically 5% of the purchase price, delivered within 24 hours of acceptance and held in trust.

Items permanently attached to the property (light fixtures, built-ins) — included unless excluded in writing.

Movable items (appliances, window coverings) — must be listed explicitly in the offer to be included.