Purchasing Tips

Once you have made the all-important decision to purchase meet with your CENTURY 21 Sales Associate to discuss your requirements.

• Your Sales Associate will ask questions and review your priorities and options.
• Once a property is identified and you have decided to purchase, we will prepare an 'Offer to Purchase' for you to sign. The Offer to Purchase outlines the terms and conditions of the offer and is the basis for the seller's attorney to prepare the Sales Agreement.
• Should the seller accept the offer, the agreed deposit is required at the signing of the Sales Agreement.
• Buyers advised to use an Attorney who is experienced in conveyancing to review the Sales Agreement and conclude the sale transaction.
• There is no agreement between the purchaser and the seller until the Agreement for Sale is signed and deposit paid.
• Having signed the Sales Agreement, the process to transfer the property title and payment of transfer taxes and stamp duty is undertaken by the Attorneys representing both parties.
• The balance of purchase price is due at the closing of the sale. For purchases financed by a mortgage, the time to complete the sale is approximately 2-3 months from the date of signing the agreement. For a cash purchase, the buyer and seller determine the time period.

The costs of purchasing a property include:

• Government stamp duty (4% of the purchase price), which is shared equally between seller and buyer.
• Attorney’s fees (approximately 3% of purchase price or as negotiated)
• Mortgage processing fees (to be determined by financial institution)

 

For more information, contact us and tell us what you are looking for:  c21jam@century21jm.com