KEEPING UP TO DATE
Keeping up to date with changing RE markets is challenging and the guidelines of what to offer and the acceptable conditions that you can include in your offer have become blurred. Some things do not change and as a reminder of helping you do your due Diligence here are some guidelines to help you in preparing your Offer to purchase.
1.ADVICE TO BUYERS ABOUT CONDITIONS PRECEDENT
It is CRITICAL that BUYER AGENTS advise buyers with respect to both the realities of the sellers market AND the importance of due diligence in their purchase.
Buyers need to be well informed about possible inspections (home and or-structural engineers) and or conditions precedents. Examples of available conditions precedents are: Subject to lawyers approval, financing, acceptable water sample of the existing well, Sellers Property Condition Statement to the buyers satisfaction, and vendor to supply Survey certificate, sketch and zoning memorandum if available
All conditions must be satisfied by a specified date.
ANY decision to “WAIVE” such inspections or conditions must be discussed with the purchaser and done with knowledge of the potential consequences of the same.
You may be asked to sign a standard form of ”disclosure of condition options” to acknowledge that you are aware of your choices