Making an Offer on a Home in Edmonton

Once you’ve found the home you love, the next big step is making an offer. This is where excitement meets strategy. A well-prepared offer not only shows the seller you’re serious but also positions you to get the best possible terms.

Here’s how I guide Edmonton and rural buyers through the offer process.

1. Reviewing the Market

Before writing an offer, I’ll prepare a Comparative Market Analysis (CMA) that compares the home with recent sales in the area. This ensures you’re offering a fair, competitive price based on market data.

2. Key Elements of an Offer

Every purchase contract in Alberta includes:

• Offer price (what you’re willing to pay)
• Deposit amount (a sign of good faith)
• Conditions (such as financing, home inspection, or review of condo documents)
• Possession date (when you take ownership)
• Inclusions/exclusions (appliances, fixtures, etc.)

3. Conditions and Terms

Conditions protect you during the buying process. Common ones include:

• Financing condition: Ensures your mortgage approval comes through.
• Home inspection: Allows you to identify issues before committing.
• Condo document review: For condos, protects against unexpected financial obligations.
• Sale of buyer’s home: Used when you need to sell your current home first.

4. Negotiating with Confidence

Once your offer is submitted, the seller may accept, reject, or counter. I’ll guide you through each step, balancing market knowledge with negotiation skills to secure the best outcome.

5. From Offer to Firm Sale

If conditions are satisfied, the offer becomes firm and binding. At this point, we prepare for closing with your lawyer and lender, and you can start planning your move with confidence.

FAQs

Q: How much should I offer on a home in Edmonton?

It depends on market conditions. In a buyer’s market, you may have room to negotiate. In a seller’s market, you may need to offer closer to list price or above.

Q: How much is a typical deposit in Alberta?

Most deposits range from $5000 or more, but it varies by property and seller. A stronger offer typically has a h

Q: Can I include multiple conditions in my offer?

Yes, but keep them reasonable. Too many conditions may weaken your offer in a competitive market.

Q: How long does the seller have to respond to my offer?

Every offer has an expiry time, usually 24 to 48 hours, set by the buyer.

Q: What happens if the home inspection reveals issues?

You can renegotiate, request repairs, or withdraw from the deal depending on the severity of the issues.

Next Steps

Making an offer is one of the most important stages of buying a home. With the right REALTOR® by your side, you’ll feel confident knowing your interests are protected. Contact me today to get expert guidance on writing a winning offer.