Sale of Buyer’s Property Condition

Question:

If you’re putting in an offer conditional on sale of your client’s home, do you include your client’s property address in the condition?

Answer:

You certainly should in order to demonstrate that your Buyers are serious. So, the list price, planned reductions, particulars about how long it has been on the market, disclosure of the number of prospective purchasers (but, no identities for privacy purposes). The more information the better. This is designed to induce the Seller to agree and accept this condition.

It is rather interesting that the standard Form APS does not include any information which would clearly identify the Buyer. We know who the Seller is. But, we really have no idea who the Buyer might be. All we have is a name and a signature. Which “John Smith” is actually submitting this Offer? There are only 10,000 of them in Canada!

Brian Madigan LL.B., Broker

www.OntarioRealEstateSource.com

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