The Offer Process

Why The Farah & Dawson Team

We work as a team, we are available 24 /7

We must be available to you the home first

Good deals sells on the very first day

Good deals are hard to find
.
If I am not available when ones comes up
Then I am not working for your best interest.

Pre-Offer Checklist

Make sure you are approved for a mortgage in writing

Mortgage Insurance / Life Ins

You must have 2 Valid IDS

You must be physically present to meet the lawyer

Make sure All the funds are in the bank

The Day of the offer

You must be available
Have your written mortgage approval
Sign Digitally

Make sure All the funds are in the bank

THE APS

Legalities Of The Offer

Cannot get cold feet. Must Comply with the terms and condition of the offer

Price: Based on Sold Comparables

Conditions Approved

Get Closing Cost - In Writing

Deposit:

The Deposit is delivered within 24 hours after the offer acceptance
The Deposit Is give by: Draft or Wire Transfer

Wire Transfer:
A) Direct From you bank to their bank
B) Take a Bank draft from your bank and to the listing brokerages bank and deposit

Irrevocability: Validity of the offer:

Closing Date:

Not on a weekend
Not on a holiday
Not on a long weekend
Not at the end of the month
Not on a Friday
Best Day Wednesday

Title / Requisition Date:

The deadline for the buyer's lawyer to raise any objections or request further information (requisitions) about the property's title or other aspects from the seller's lawyer before closing. This is a critical contractual date, usually set a few days before closing, ensuring a clear title for transfer; if issues aren't raised by this date, the buyer is often deemed to accept the property as-is.

Inclusions: What Included

Fixtures: What is included that fixed to the house by screws

Chattels: What is included that is not fixed

Fridge Stove Washer Dryer
To [prevent Switching: We include the Make, Model and Serial Number
Dual Witness: We also ask the Home Inspector to note it down

We also ask for warranty papers

Rental Items: The Monthly Payments, The Term, What included, The return policy

The Conditions:

SPIS, Appliances,

Survey, etc


Our Custom Clauses:

Here we are dotting all our i’s and crossing all our T’s and leaving no margin for error.

Finance

Home Inspection:
Its a Must with us
$300 – 4500. Licensed, Insured, Big Companies, Neutral. Not a technique to reduce the price.

Home Inspection

Must be done when buying through us

Its is done even when you are buying a new home

Home Inspector must be licensed and Insured

- It’s a Visual Inspection. Does not open walls - Check the Mechanics

We use Inspectors that hold a PEng Designation
They are Amazing

Cost depends on the size of the home.

Not a technique to reduce the price of the home

Must be Done at the specified time
Must note down appliance model numbers, Take Photo of Light Fixtures and Window Coverings

In writing

Seller Disclosure

Taxes all paid

Appraisal Clause

Insurance Clause

Survey & Title Insurance (One compliments the other) Both are a Must

Grow Operation Home : Warranty

Chattels: Noted Down By Us and also the Home inspector: Will give you our warranty on chattels

Status Certificate.

Garbage Removal Clause

Crime Clause

Stigma Clause

No Hidden well or pools warranty

Termite & Rodent

Clean and swept

Visit



Offer Negotiation Process

Present and Negotiate Offer

Back and Forth Negotiations

Offer Accepted

Deposit Given:
Bank draft dropped to the listing brokerage office

Fulfil the offer conditions within 5 days.

Send all documents right away to the mortgage broker right away
The APS, The MLS Listing, The Deposit Receipt, The Deposit Cheque, All Schedules, The proof of down payment. The Credit Report, The Job Letter, The Pay Stubs

Make sure that the appraisal is done by the bank
Get the commitment in writing
Get Approved For Financing First

Next do the home inspection: Must be a licensed Home Inspector

Offer Firm

If condition passed, Then do a Waiver of Conditions

The Offer Is Now Firm:

Closing Cost - In Writing

Send Documents To Lawyer

The waiver is signed and the deal is now Firm

Send all document to the Lawyer and mortgage broker right away

Do not Delay:
Time is the essence
The Lawyer has to prepare closing documents
Request for the mortgage loan from the bank
Take Chicago Title Insurance

Must make sure:


That your lawyer is NOT on vacation during closing

That your lawyer is Lenders List of approved lawyers


Annual Heating and cooling plan

Lawyers Details:

Closing Requirements:

The Lawyer

Checks the offer is valid and binding

Does not negotiate on your behalf

Does not go to court for you

They just transfer Title – Free and Clear

The Deal Fell Through

Conditions Not Approved

Sign Mutual Release right away

Take 10 days to get your deposit back

Time is the essence

Land Lord Notification Lease Termination By Tenant

The waiver is signed and the deal is now Firm

Notify Landlord right away with two written and signed notification

15 Days Prior To Closing

Book Movers / Truck / Elevator .

If Condo you will have to give them the offer as proof o asl you layer to give you a letter

The Closing Process

The Visits

2 Visits

One visit on 2nd last day of moving date

You get 2 visits before closing

3 Days Closing Process

Meet the lawyer and give the balance of closing funds

Letter Of Closing:

For condo purchase:
Ask The Lawyer for a Closing letter to give the condo corporations, showing that you are the new owner. If not you cannot move into the unit and you cannot use the elevator for moving

Ask The Lawyer for a Closing letter to give the utility companies for you to transfer the utilities under your name, if not you will have no neat and water

The Seller must do all the final readings

Book Movers / Truck / Elevator .

The Visits

You get 2 Visits to see the property to take measurements. Its not an inspection, Its an visit

The Last Visit

One day before closings

The Moving Process

Get Ready to move, pack in small boxes,

Don’t make boxes too heavy\

Label every box. Bedroom, Kitchen, Living, Basement

Color coding is easier. Color box to color room of new home

make map of room

Keep valuable, Personal document, electronics safe

Double wrap fragile items to prevent breakage

The Moving Day

Get mover Moving Truck

Time everything from moving items into the truck , to Reaching the new home, if 4 hours

Will Get the key at 5 pm , so call mover at 12 Noon latest by 1 pm

Closing Requirements:

What to Say and Do

When You Come Across Homes on Your Own

1. If you see a home you like, feel free to call for information , BUT always tell the agent that you’re working with us (this will prevent you from being hounded by other agents with questions and sales pitches)

2. Get the price and (if available) MLS number and we’ll send you complete information

3. If you see a house you want to look at, always call US for appointments

After Sales Service

REMEMBER

Always keep your home in good repair.

A small problem can eventually turn out to be a massive repair

Always call us regarding anything about the home

We have forged strong relations with

lenders, Lawyers, Home inspectors Repairs, Renovators, Home Services, Appliances

for our clients to get better rates and discounts

Upkeep

REMEMBER

Always keep your home in good repair.

A small problem can eventually turn out to be a massive repair

Always call us regarding anything about the home

We have forged strong relations with

lenders, Lawyers, Home inspectors Repairs, Renovators, Home Services, Appliances

for our clients to get better rates and discounts

Our Promise

In Financial Problems, call us we WILL Help

Need To sell but cannot afford the fees,
no problem we will sell it for free

When you want to sell but have a have found a
cheaper service. WE will Beat IT

With Us Its Never About The Money

Closing Requirements:

We offer Amazing buyer programs

Total Home warranty.

Buy Back Guarantee

Cash Back

Best Mortgage Guarantee

Lower than Low Mortgage Rates

Free Lawyers Fees

Free Moving

These programs will be discussed at the meeting

Let Get Started

AwesomeDawson.ca/buyer-questionnaire