STEP 6

Step 6. Make an offer and complete negotiation.

Once you choose a property that is suitable, under your direction, your realtor will prepare an offer for purchase. You will need to decide a) what price to offer b) what subjects to include (ex. House inspection, financing) c) the amount of deposit if offer is accepted d) chattels to include such as appliances e) closing date (ie when you will take possession of the property). A good realtor can offer lots of advice on how to structure your offer.

Now it is time for the realtor to start negotiations by contacting the seller’s realtor. The seller may choose to accept the offer, counter-offer or reject the offer completely. Counter-offers may include changes in price or any other conditions of the contract.

Sometimes the negotiation process can be completed in a couple of hours and other times it takes multiple days. The seller may live out of province, work shift work or have some other extenuating circumstance that makes communication back and forth more difficult. Emotions can run high at this point in the process but it is important to remain patient. Your realtor will keep you informed as the negotiations progress.