TY

Making
an offer to
purchase

a home

When you find a home
you want to buy, you'll make
an offer to the vendor by
completing a document
called a “Contract of
Purchase and Sale” which is
your first step towards
ownership, Poorly drawn
contracts at this stage ar
are the largest single cause
of problems in real estate
transactions.

This contract is a
summary of the terms and
conditions relative to the
transaction between
yourself and the vendor,
and it should contain very
clearly all you can or intend
ta do, and exactly why you
expect to receive.

This is your offer, and will
become your obligation if
accepted so be certain it
accurately reflects your
intentions, that the property
is identified correctly, names
spelled correctly, mortgage
information properly stated
and the extras you want
fully itemized. The intent of
every line should be clear
and specific so that no
misunderstanding can arise

— .

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Diane 638-8576
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regarding who will do what
and by what date.

This offer can be
accepted, rejected, or
countered by the vendor. If
countered, his counter-offer
will come back to you, the
potential purchaser, for your
consideration. You can
accept the altered offer,
reject it or you too could
counter his counter offer.

When the two parties to
the. offer -- the vendor and
potential purchaser -- have
reached agreement and duly
signed the contract, it is a
legal agreement of sale. The
Contract of Purchase and
Sale is followed by other
documentation to be drawn
up by a notary or solicitor in
the conveyancing process,
but that original Contract of
Purchase and Sale Is really a
final document in the sense
that it forms a_ binding
contract that can only be
changed by mutual consent.
A licensed real estate
professional is trained to
help you complete your offer
and will make sure all the
pertinent details are included

6 years
experience in
real estate.

638-1721

prenda erickson

in the concise terminology
assential to every clear and
unassailable contract. The
deposit you pay on
submitting that offer is a
token of good will which will
be held in the real estate
agent's Trust Account for
both the purchaser and
seller until the sale is
completed. The deposit
becomes part of the final
down payment on
completion of the real estate
transaction. Remember, if
the deposit is substantial
and is to remain in Trust for
a period of weeks, you can
ask your real estate firm to
place it in a Trust Account
bearing Interest payable to
you, and to have this
stipulated on the Contract
of Purchase and Sale.
Anyone contemplating a
private purchase’ is
cautioned that there are
many contractual pitfalls
that could cause problems
unless you seek professional
advice. Turn to a licensed
and experienced real estate
professional, a notary public
or a lawyer to prevent
contractual difficulties.

experience in
feal estate.

635-3389
verne ferguson

SALESMAN OF THE MONTH

PITCH-IN
CANADA!

CHRISTEL GODLINSKI

The management of TERRACE REALTY LTD, - ROYAL

LEPAGE ABN recognizes CHRISTEL GODLINSKI as the~
outstanding salesman for the month of MAY, 1994, We value

her excellent performance and service to the public in the

field of Real estate.

YOUR COLLEGE IN’
~ YOUR COMMUNITY

Christel’s determination and motivation have awarded her
“SALESMAN OF THE MONTH",

TERRACE REALTY LTD.
MI ASSOCIATE

ROYAL LEPAGE BROKER
LL NETWORK

638-0371

COMMUNITY,
COLLEGE

P & D BERFELO PROPERTIES LTD.

General Contractors & Developers -
FORSALE | q tftp of ot ;
or BUILD TO SUIT 7 ey
14 - Secluded Ee ep eb | a
2 Acre Lots In cee qe
Jackpine Flats oe whe pode Po

635-3213
635-0833 (Fax)
635-2274 (Home)

Quiet area on |
dead end road.
Well treed lots. — -

olga power

OF TERRACE 638- 1400

2 years
experience In
real estate,

635-6236
diana wood

experience in
leal estate.

638-0047
steve cook

experience In
real estate,

635-3833

BenchMLS $137,500

"Thornhill MLS $37,900

Thornhill EXC $34,900

Horseshoe EXC $249,000

15 years
experience in
real estate,

635-7063

richard evans

experience in
real estate.

635-4773
erika langer

6 years
experiance in |
real stale.

635-2697
joyce findlay

7 years
experience in
real estate.

638-8882
john evans

2 years
experience In
real estate.

635-3004
shella love