Selling Your Kelowna Home Series, Part Three – Offer, Acceptance and Closing

The goal of anyone listing their home for sale is of course, to sell it!  If you’ve read parts One and Two of my informational series on Selling Your Home in Kelowna, you have set yourself up for success in selling your home.  As your Realtor, it is my job to market and show your home to potential buyers.  Before long, I will present you with an Offer from a potential buyer.  Let’s talk about what the final steps of selling your Kelowna home will look like!  

  • The Major Elements of an Offer

Price: Depends on the market and the buyer, but generally the price offered is different from the asking price.
Deposit: The deposit shows the buyer’s good faith and will be applied against the purchase price of the home when the sale closes. Your C21 sales representative will advise you on the suitability of the amount of the deposit being offered.
Terms: In the contract terms are specific to items that either the buyer and seller have agreed to however have no date like Conditions (subjects).  A couple of standard terms are: Appliances will be in good working order upon completion or the seller warrants there are no hidden damages.
Conditions: These might include but are not limited to: “subject to home inspection”, “subject to buyer obtaining financing” or “subject to the sale of the purchaser’s property”.
Inclusions & Exclusions: These might include appliances and certain fixtures or decorative items, such as window coverings or mirrors.
Closing or Possession Date: Generally, the day the title of the property is legally transferred, and the transaction of funds finalizes unless otherwise stated (noting exceptions in BC, Manitoba & Quebec).
Note: in BC the possession date is legally 1 to 3 days after the closing.

  • Acceptance

As your Realtor and an expert negotiator, I will review all offers with you and help you to view them objectively. Once an offer is received, I will guide you through each section and help you decide whether you want to accept, decline altogether, or make a counter-offer.  This is where a dedicated and trustworthy Realtor like me really comes in handy!

  • Closing

Once you and the buyer have agreed on the terms of sale and all subjects have been removed, the very last step in the process of selling your home is closing the sale.  This is where you sign all the legal documents that transfer ownership of the home to the buyer.  This process can take some time but rest assured I will be by your side to ensure the experience is positive!

This blog is just a brief summary of the process of selling your Kelowna home.  I have so much more knowledge and insight to share with you so please get in touch with me if you or a loved one is considering selling in the Okanagan.  I would love to chat about how I can make the process easier and more successful for you! 

Karen Borring-Olsen

Your Key to Real Estate Success in Kelowna