How to purchase in 5 Steps

Buy Through Agent & Receive $500

Step #1.  

The buyer Agent will present an offer to the listing Realtor who represents the Seller / Bank or Finance company and will negotiate on behalf of the Seller just like in a typical Real Estate Transaction. The Buyer can have Subjects on the offer, such as financing & inspection. All offers have to be an unconditional Contract of Purchase and Sale sold As Is Where Is, and a signed copy of Schedule 'A' (a Disclosure written by the Seller saying the sale of the property is As Is Where Is).

Step #2

After the Buyer has done their due diligence and removed all the Subjects, followed by a certified draft cheque, a court date will be booked. Typically 2-3 weeks. Closing is typically Two weeks after court approval

Step #3

Once the court date is scheduled, the accepted offer price will be disclosed to the public.

Step #4

The lawyer will give us the day, which is 2-3 prior to the court date, that any further offers, if any, can be submitted via email. The cut-off is typically 8 am - 4 pm that day. All other offers cannot be accepted after the cut-off time. It is similar to multiple offers on a non-court order sale. If the initial Buyer is the only interested party to show up on the court date, most likely, the court will accept the offer.

Step #5

If more than one interested party shows up, the initial first offer can resubmit another offer. All offers must provide a subject-free offer, As Is Where Is, Schedule A and attach a Certified Bank Draft. The initial Buyer who made the offer can submit a new offer with a higher price if other parties compete. The court will pick the highest offer. 2 weeks after it is vacant possession. In the past 38 years, we have rarely seen issues with court order sales and possession. 

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