Five points that must be paid attention to in Canadian house purchase contract

Many immigrants will choose to buy a house in Canada, so what are the precautions in the Canadian purchase contract? This is an issue that many immigrants are interested in. Let's take a look at it with the overseas immigration network! The following is the relevant information I have compiled. Welcome to reading.

Five points that must be paid attention to in Canadian house purchase contract

When buying a house in Canada, a professional real estate agent will generally look at the house first, and it is the quotation stage when deciding to buy a house.

The Offer is generally drafted by the buyer's agent according to the requirements of buying a house, and the buyer signs it and submits it to the seller for review. If the seller signs the offer, it becomes a legally binding contract and both parties must abide by it. So be careful before signing the offer, and don't sign it easily because it looks like a draft. As a party, we must pay attention to five points:

1. The loan terms in the offer shall indicate that the buyer applies for a loan from a financial institution within a few days after the contract comes into effect. If it fails, the buyer can cancel the contract and get back the deposit in full. It is suggested that the buyer should ask for this clause whether it needs to borrow money or not, so as to achieve the effect of leaving a cooling-off period for himself.

Second, in addition to condominium, we should also increase the terms of house inspection. That is, within a few days after the contract comes into effect, it must pass the inspection of the house inspector, otherwise the contract will be invalid.

Three. Identification When purchasing condominium and condominium townhouse, the buyer must insist that the seller pay the management documents issued by the management company.

Fourth, electrical terms If the house price includes electrical appliances or other valuables, it must be described in detail. Such as brand, model, production date, etc. To prevent some unfair sellers from stealing columns when handing over the house.

Verb (abbreviation of verb) Other special terms and conditions can be clearly written in the offer by the buyer and the seller according to their own situation and possible problems, so as to avoid unnecessary disputes in the future. Experienced real estate agents will fully consider common problems when drafting quotations and list them in the quotations, so as to protect the interests of buyers to the maximum extent. If you are not at ease even if you meet a good broker, you'd better ask a lawyer to review the quotation before signing it.