The Stress-Free Edmonton Real Estate Lawyers

Seller’s Checklist

1. Ensure that the Offer of Purchase and Sale specifically refers to which Chattels are included or excluded from the purchase (e.g. appliances, mirrors, drapes, light fixtures, etc.). If possible, include serial numbers.

2. Is there a warranty on the house which can be assigned to a Purchaser? Have there been any significant improvements made to the house recently (e.g. replaced furnace, installed new roof, etc.). Are the original or other plans and specifications available to a Purchaser? These can be positive selling features and should be brought to the Purchaser’s attention.

3. Be sure of the amount of commission payable to the real estate agent, who is responsible for it and when it is payable.

4. Have reasonable time limits been placed on any matters which have to be completed or complied with before closing.

5. If your Offer to Purchase requires that you provide the buyer with a Real Property Report and compliance certificate, this should be ordered as soon as possible to ensure that there is sufficient time before closing to obtain any additional permits which may be required by the local municipality.

Buyer’s Checklist

1.  Make your offer subject to conditions for your own protection, such as:

• Subject to financing
• Subject to building inspection
• Ensure a recent Real Property Report with Compliance Certificate is provided for in your contract
• Subject to lawyer’s approval

2.  Always include a time limit for acceptance by the seller.

3.  Ensure that the Offer to Purchase and Sale specifically refers to which Chattels are included or excluded from the purchase (e.g. appliances, mirrors, drapes, light fixtures, etc.). If possible, include serial numbers.

4.  If you are planning on assuming an existing mortgage, ensure that it is assumable. Contact the mortgage company well in advance of the sale to determine what information they require from you. Make sure that you are clear on the terms and conditions of your mortgage.

5.  Your Offer should contain a condition that the building and improvements on the property comply with City and Municipal Land Use Bylaws, Zoning Regulations, and Planning Department Requirements.

6.  Get estimates from the realtor, the mortgage lender and your lawyer, of the costs you will have to pay in addition to the purchase price.