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After weeks of searching, you have finally found the house you want to make your home. The next step is to formalize your intent to buy, which means making an offer to purchase. The details of your intent to buy are written in a formal document called an agree- ment of purchase and sale. The offer is a significant step in the process of buying a house because if it is ac- cepted, you and the seller have entered into a legally binding contract. As a buyer, you must be prepared to fulfil your com- mitment to the contents of that agreement. The agreement of pur- chase and sale states much more than how much you "are offering to pay for the property. It contains a description of the property and details relevant to the sale. Items such as the deposit, fixtures, chattels, time limits, completion date and how the balance of monies is to be paid are stated in the document. Normally a deposit ac- companies the offer as a pledge that you will fulfil the contract. Any money you put down with the offer will be applied towards the total agreed purchase price upon closing of the transac- tion. The deposit is usually given in the form of a che- que made payable to the real estate broker who has listed the property for sale. Generally, the offer is valid for a specified period of time. Within this time, the seller will consider your offer and either accept it, reject it outright or make a counter proposal. If the seller refuses a buyer's offer, the deposit is returned in full because no commitment has been ac- cepted. On the other hand, if your offer is accepted, and the closing date is an extended one, you may ask for your money to be deposited in an interesting- bearing account. It's wise not to rush into signing the agreement of purchase and sale. Once the document is signed and ac- PORT PERRY STAR -- Tuesday, September 12. 1989 -- 4) Found your new dream home? Now make an offer! cepted, if the buyer changes his mind, the seller may keep all the deposit or an agreed portion as a condi- tion of the buyer's release from the contract. If the buyer reneges on the con- tract, and the seller suffers loss or incurs expenses, the buyer may be liable for damages in excess of the deposit. An offer normally specifies the time limit within which the offer is open for the seller's con- sideration. If the seller doesn't accept the offer within the time frame, the offer is void and the deposit is returned. If there is a sign-back (counter-offer) Turn to Page 45 REAL ESTATE DEADLINES To meet deadline for the Port Perry Star special Real Estate Sec- tion, all real estate listings must be in the Star office by 5:00 P.M. Friday preceding patlication. This deadline applies to private advertising as well as agents, bro- kers and real estate companies. We Thank you for your co- operation. An international network of independent member brokers. 4 RE/MAX scugog realty iimited 144 QUEEN STREET, PORT PERRY independent member broker 985-4427 184 OFFICES /R THROUGHOUT ONTARIO TAMMY SILVERMAN Res.: 985-0690 LOTS AND LOTS OF CHARACTER in this charming older 2 storey. Three or four bedrooms perfectly situated on a picturesque 10-52 acres with a serene view of the lake and surrounding area. This pro- perty has béen completely renovated which will. show as you will:notice by the majestic appearance: from the outside and a warm elegance on the inside once you step inside. Listed at $329,000. For an appointment to view, please feel free to call me. Due to our growth, we have been obliged to change our main telephone number. Our new number is VALERIE EDEN Res.: 985-2122 LOOKING FOR AN EXCELLENT RESIDENTIAL AREA! Don't look any further "7 The home is situated on sea a quiet court in Port 1 Perry. Multi-level home offers 4 bedroom, dining room, living room with fireplace, rec room with walkout to patio and central air conditioning. Asking only WATERFRONT PARK-LIKE SETTING on 3% lots edged in hedges and a stone-wall lining this incredibly sandy shoreline. Two or "thrée bedrooms, combination living room A... and, dining, room. with a zero clearance fireplace. Completely renovated inside and out, One car garage, 2 yr. old heated guest Cabin with hydro. Features a running creek hough the back of this breathtaking proper- ty that must be seen! At a price of $219,900. $198,900. Buying or selling ... When it comes to your real estate needs contact the professionals at RE/MAX! ... we're above the crowd. GUY LATREILLE Res.: 985-8192 ONE ACRE - $209,900. 3 bedroom split level home with 2 car garage, rec room with fireplace, paved drive located 6 minutes from Port Perry. Call me to view. Yai aa ss Gi PORT PERRY - KENT ESTATES 4 bedroom home with 2Y; baths, main floor family room and laundry, rec room, games room, located on large, treed lot. Asking $324,900. Call me to view. § 3.5 ACRES 3 bedroom brick bungalow, sun room, family room, inground pool, pond, 24 x 30 steel shed. Located north-east of Port Perry. Asking $249,900. Call me to view. ar 3 A PRIME DOWNTOWN LOCATION zoned Commercial-6, this 2 bedroom spacious bungalow has much to offer. All rooms are spacious with 9'6" ceilings. Ideal for retire- ment or office, asking $329,900. Call me to inspect. NN NN NNR