Presenting the Offer
Presuming that the offer to purchase your home is generated by an agent other than ourselves, we will contact you immediately to arrange a meeting. The timing may be inopportune but it’s usually best to meet as soon as possible to consider the contract. Please note that when we call you to arrange for the presentation, we will not be aware of the terms of the offer. However, we will present the offer to you and we will review all of the terms and conditions at that time.

 
Three Options to Consider
1. Accept the offer exactly as presented and your home is sold
2. Make a counter proposal - propose changes to the offer, i.e. price, personal property, closing or possession date etc.
3. Reject the offer

Delivery of the Contract
A copy of the finalized contract will be delivered to both buyer and seller by their respective real estate agents. All pertinent legal documents will be delivered to your attorney.

Finalize All Conditions
If the contract states that financing will be provided by a lender, it is the buyer’s responsibility to make an application for the mortgage loan as soon as possible. The buyer will have a set number of days to procure the loan as stated in the contract. The lending institution will verify the buyer’s credit, work records and determine his ability to meet the monthly obligations.
Since your buyer’s mortgage loan is to be secured by the house itself, the lending institution will assign an appraiser to visit your home to determine that its value is enough to secure the loan that they are making to your buyer. When all the information is received, the mortgage loan underwriter will either approve or disapprove the loan.
After the loan is approved, more legal work is necessary though you will have very little involvement. The land title will be searched and an updated survey of the property may be needed. If the property is a condominium, your Condo Association will be contacted to provide the Status Certificate.
Prior to the time of closing, the buyer may request a physical inspection of the home. An appointment will be arranged through my office. The buyers may or may not be accompanied by a property inspector whom they have engaged at their expense.
Keys will be delivered to the buyer at the closing or whenever possession of the property has been agreed upon.

Our Responsibilities
Our responsibilities do not end with the closing. We will follow the progress of all stages above, to keep you abreast of any developments. We will do everything in our power to work with your mortgagee, accountant, lawyer, etc. to ensure a timely and highly satisfactory settlement to you.