The day the title of the property is legally transferred and the transaction of funds finalized.
Elements of an Offer Explained
6 Key Elements of an Offer
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Price
Depending on the local market conditions and information provided by me, your Real Estate Professional, the price you offer may be different from the seller’s price.
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Deposit
Your deposit shows good faith and will be applied against the purchase of the home when the sale closes. As your Real Estate Professional I can advise you on an appropriate amount.
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Terms
Includes the total price offered and the financing details. You arrange your own financing or ask to assume the seller’s mortgage, especially if it has an attractive interest rate.
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Conditions
These might include “subject to home inspection”, “subject to you obtaining financing”, or “subject to you selling your property”.
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Inclusions and Exclusions
These might include appliances and certain fixtures or decorative items, such as window coverings or mirrors. These items would remain in the house.
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Closing or Possession Date