Okay, you and your Commonwealth real estate representative have done all the searches. You've looked high and low, checked out many houses, and you've now found the one that suits your needs and desires the best. You've talked to your mortgage lender and received your pre-approval. Now what?

It's possibly the most dramatic time of the whole process: time to submit an offer! But read the following, and you'll at least be prepared for what's to come.

It's called an “Agreement of Purchase and Sale,” and it's a legal, binding document, so be careful. Make sure it's done properly, setting out all the terms and conditions that you, the buyer, and your agent, feel are important. And make sure you understand it, before signing. Your Commonwealth agent knows how to draft the offer, and can offer advice as to what goes in it. The forms usually are standardized Ontario Real Estate forms. You might wish to have your lawyer check them over too.

The Easy Parts
Your name, the seller's name, the property address, its legal description, its dimensions.

What Price Should I Offer?
In most cases, the listed price is negotiable in today's market. Of course it depends on the seller's motivation. Your agent may have an opinion on the price that you have decided to offer; but really, it's your decision, not his/hers.