Part 2 • Calgary Home Buyer’s Series
You found the house. Now comes the part where a lot of buyers assume the conversation is simply:
“What should we offer?”
Price matters, of course. But a purchase contract includes much more than the number at the top, and sometimes the terms surrounding the price can be just as important.
A good offer is not just about being competitive. It is about protecting you while also putting together terms the seller can realistically work with.
The Purchase Price Is Only One Piece
The obvious place to start is price. Before writing an offer, I usually want to look at more than the list price. We may review comparable sales, current competition, how long the property has been listed, previous price changes and what we know about the current market.
The goal is not simply to decide how much you can offer. It is to decide what the property is worth to you and how that number fits into the overall strategy of the offer.
Your Deposit Matters Too
The deposit forms part of the purchase contract and shows the seller that you are serious about completing the transaction. It is not an additional cost on top of the purchase price. If the sale completes, the deposit is credited toward the purchase price.
Remember, the amount of the deposit, when it needs to be delivered and how it is held all matter. Those details need to be clearly set out in the contract.
Conditions Are There for a Reason
Most buyers are familiar with financing and home inspection conditions, but there can be others depending on the property.
A condominium purchase may include a condition for reviewing condominium documents. A rural property may require additional inspections or testing. A buyer may also need a condition related to the sale of their current home.
Conditions need clear deadlines, and buyers should understand exactly what needs to happen before they remove them. Once conditions are waived, the contract generally becomes firm and binding.
There are situations where buyers consider writing an offer without conditions, particularly in a competitive market. That can make an offer more attractive to a seller, but it also removes important protections. It is a decision that should be made with a clear understanding of the risk, not simply because someone says, “That’s what you have to do to win.”
Possession Can Be Part of the Negotiation
Possession date is another piece buyers sometimes underestimate.
You may want the house as quickly as possible, while the seller may need additional time to move or complete their own purchase. Sometimes flexibility on possession can make an offer more appealing without increasing the purchase price at all. That is why I always want to understand not only what matters to my buyer, but what we know about the seller’s needs as well.
What Exactly Is Staying With the House?
This is one of those details that feels small until it causes a problem.
Attached items will generally remain with the property unless the contract says otherwise. Unattached items generally do not, unless they are specifically included. That means we may need to talk about things such as appliances, window coverings, garage shelving, televisions and mounts, outdoor structures or anything else you expect to be there when you take possession.
If something matters to you, it should be clear in the contract.
The Dates Matter
Offers contain important deadlines.
There is a deadline for the seller to accept the offer, deadlines for satisfying conditions, deposit timing and, eventually, possession.
These are not filler dates. They affect how the transaction unfolds, and they need to give you enough time to properly complete whatever due diligence you have agreed to do.
The Strongest Offer Is Not Always the Highest Offer
This is one of the most important things for buyers to understand.
Imagine a seller receives two offers:
One has a slightly higher price but several conditions, a difficult possession date and a smaller deposit.
The other is slightly lower but has terms that fit the seller’s situation much better.
The seller may prefer the second one.
That does not mean you should automatically remove conditions or give the seller everything they want. It means we look at the whole offer.
Price is part of the strategy. So are the terms.
This Is Where Representation Really Matters
Writing an offer is not about filling in blanks on a form. My job is to help you understand what you are agreeing to, identify the areas we need to think through and build an offer that reflects both the property and your circumstances. Sometimes that means being aggressive or it may mean protecting yourself with conditions. Sometimes it means changing the possession date instead of changing the price, and, believe it or not, sometimes my advice is that the best offer is the one we do not write.
The goal is not simply to get an accepted offer.
It is to get you into the right property on terms you understand and are comfortable with.
If you read Part 1 of the Calgary Home Buyer Series, you already know how important it is to have someone representing your interests. Writing the offer is where that really starts to matter.
If you’re thinking about buying and have questions about how an offer is actually put together, send me a message. I’m always happy to talk through the process before we’re in the middle of it.
Erika Dix, REALTOR®
The Real Estate District