An offer is a legal document. Before you start drafting one, make sure your client is actually ready. Rushing to write an offer on a home they're not sure about, or without the right pieces in place, creates problems down the road.
Is the Client Pre-Approved?
Do They Understand the Full Cost?
The purchase price is only part of the picture. Make sure your client understands:
- Closing costs: Legal fees, title insurance, property transfer tax.
- Adjustments: Property taxes and strata fees prorated to the adjustment date.
- Inspection and appraisal costs: Out of pocket before possession.
- Moving, repairs, and immediate needs: New locks, cleaning, minor fixes.
Are They Confident in the Home?
Have they done enough viewings to feel good about this choice? One showing is rarely enough. If they haven't done a second viewing on this property, suggest one before writing. The excitement of the first visit can mask real concerns.
Your Research
- Pull recent sold comparables in the area. Know what similar homes have actually sold for, not just what they're listed at.
- Research the listing agent's situation. How long has this property been on the market? Have there been price changes? Is there any indication of seller motivation?
- Check if there's an offer date set. That changes your strategy entirely.
In BC, we use the Contract of Purchase and Sale (CPS). It's the standard form that outlines every detail of the deal. Here are the key components your client needs to understand.
What the buyer is offering to pay. Based on your comparable research, not emotion. You'll guide them to a number that's competitive but smart.
Typically 5% of the purchase price, delivered within 24 hours of acceptance. This goes into the listing brokerage's trust account. A larger deposit signals a serious buyer.
The day title officially transfers from seller to buyer. This is when the lawyers do their work and the mortgage funds are released. Typically 30 to 60 days after subject removal.
The day you get the keys and can move in. Usually the same day as completion or the day after. Make sure this is clear so there's no confusion about when the buyer can access the home.
The date when property taxes, strata fees, and other costs switch from the seller to the buyer. Usually set to the completion date. The lawyers handle the math.
These are the conditions that must be met before the deal becomes firm. They protect the buyer. We cover these in detail on the next page.
Subjects are your client's safety net. They give the buyer time to verify that the home, the financing, and the legal side all check out before the deal becomes binding.
Common Subjects in BC
| Subject | Timeline | What It Covers |
|---|---|---|
| Financing | 5-10 business days | Broker confirms the mortgage is approved for this specific property |
| Home Inspection | 5-7 business days | Professional inspector checks structure, systems, roof, plumbing, electrical |
| Title Review | 5-7 business days | Lawyer reviews title for liens, easements, right-of-way issues, or other encumbrances |
| Strata Documents | 7-10 business days | For condos/townhomes: review strata minutes, depreciation report, contingency reserve fund |
What "Firm" Means
Removal Timeline
The full playbook
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