Accepting an offer
Evaluating Offers and Closing the Sale
The Price Is Not Always Right
A common misconception is that “the higher the price, the better the offer.” In reality, the initial offer is rarely final, and there are many factors beyond price that can influence the outcome, such as conditions, financing, possession dates, and contingencies. Our professionals will help you evaluate every proposal carefully, ensuring you make informed decisions without compromising your marketing position.
Negotiating the Right Way
We take the responsibility of fair and ethical negotiation very seriously. Our goal is to achieve a win-win outcome for all parties. You may receive multiple offers before accepting the one that best meets your needs. As your agents, we will provide a thorough, objective assessment of each offer, helping you make the choice that aligns with your goals.
The Agreement and Deposit
Once you accept an offer, it becomes a legally binding agreement between you (the seller) and the buyer. In Ontario, an initial deposit—held in the lawyer’s or closing agent’s trust account—is part of the agreement and acts as consideration to secure the buyer’s commitment. This deposit is applied toward the purchase price once conditions and contingencies are fulfilled.
Tips to Streamline the Process:
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Keep written records of everything.
Transcribe all verbal agreements, counter-offers, and addendums into signed documents. We will assist you in drafting all paperwork and ensure you have copies of everything for clarity and security. -
Stick to the schedule.
The agreement will include timelines for fulfilling conditions, completing inspections, and closing the sale. Meeting these deadlines keeps negotiations smooth and ensures neither party is in breach. Throughout the process, we will keep you constantly updated so you are always prepared for the next step.
