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CITIZEN Scugog Citizen -- Tuesday, March 9, 1993-- 17 a Call the SCUGOG CITIZEN Ef 985-NEWS FOR REAL ESTATE & CLASSIFIED ADVERTISING RATES & INFORMATION 4, 700%, 4 S, es 7... ne, KN RC Os %, ot A Hh BE THE FIRST and GET a TERRIFIC BUY! This beautiful top quality, brick home is located just 4 miles from Port Perry - 4 bedrooms, huge garden kitchen with quality oak cabinetry and floors - 2 walkouts to two-tiered deck - fabulous recreation lounge with cedar wainscotting and wet bar - 60 x 40' steel building with cement floor and 200 amp - 2 1/2 acres - Listed at $310,000. Kelth Puckrin 985-7351, 24 Hr. Paging. main floor family room - AMEMBER OF THE SEARS FINANCIAL NETWORK coLbuecLL BANKECRQO RESIDENTIAL REAL ESTATE F.S.P. COUNTRY LANE REALTY LTD. Hwy. 7A & High Street - 2985-7351 An ndapandenty owned and oper ated member broker of Coldwell Bankes AMiaws of Canada Inc Port Perry, Ont. WHY NOT HAVE IT ALL! Immaculate in-town semi backing onto open fields - 3 bedrooms, 2 baths, rec room with walkout and attached garage - new carpets and flooring add to the great decor. Just listed at $137,900 Denise Kingma 985-7351, 24 Hr. Paging. Making an offer to purchase by Mark Smith After all the searching, the checklists, the pre-approvals now comes one of the most important phases of your home buying: Making an offer to Purchase Simply stated the offer (Agreement of Purchase & Sale) is a legal document that sets out the terms and conditions between the buyer and the seller. Once the offer is accepted and any conditions are met, the offer becomes a legally binding contract - meaning that under law you and the seller are required to hold up your ends and complete the transaction. Fortunately most Agreement of Purchase and Sale forms are standard throughout the Province with few exceptions (e.g. Toronto), these forms contain the terms most common to almost every Real Estate transaction and have been thoroughly reviewed and tested through Ontario's legal system. Every sale is different and your offer will contain the wording and conditions that suit your needs. The following is a breakdown of the different areas of the OREA Agreement of Purchase and Sale which may be customized to fit your transactions: *Purchases - That's you Decide what name the property is to be registered in. You, you and a spouse, you and a partner *Vendor - The seller. if jointly owned, each seller's name will appear as registered. *Agent - The names of both the listing and selling brokers involved. *Property - The exact legal description of the property including postal address, lot and plan number, lot frontage and depth. *Purchase Price - the price offered. *Deposit - Not to be confused with down payment. This is a cheque or cash paid to the listing broker to demonstrate good faith or that you're serious to the seller. The money will be deposited in a trust account and credited towards the purchase price on closing. . There is no standard amount for a deposit, but the size of your deposit says something about how serious you are about buying. Clauses particular to this Agreement - This space has been provided for any provisions or conditions that apply only to your offer. Conditions are inserted at your request and for your protection. If a condition is not satisfied within the time allowed, your offer is no longer valid and your deposit would be returned. *Fixtures Excluded and Chattels Included - Fixtures are permanent improvements to a property and normally stay as part of the sale However, it isn't always clear what constitutes a fixture or whether it will stay. A TV aerial may be attached to the house and be a fixture, however the seller may have installed cable and wishes to take the aerial with them to their new residence. Along with the home, you always acquire ownership and the rights that go with it. "Title" is the legal evidence of ownership and you want to make sure your lawyer has time to search the seller's title to make sure it's free of restrictions. If a problem exists this is the time to correct them, otherwise complications may arise later in transferring title on closing. *Involve your lawyer - You may want to have your lawyer review your offer before submitting it to the seller Remember, when all is said and done, you and the seller are legally responsible for what the offer says Don't expect your lawyer to comment on the value of the property. Their job is to review the documentation and ensure your rights are protected (Mark Smith is a Real Estate Broker and Immediate Past President of the Oshawa and District Real Estate Board) Chattels are typically moveable items such as appliances, curtains and drapes. These would not normally be included but for attracting purchasers have been made part of an offer. If there is any doubt as to whether fixtures and chattels are part of the agreement, list them in your offer. *Irrevocability of the Offer - This is the period you leave your offer open for consideration by the seller. If you are not notified that your offer has been accepted before the time and date, then it will become null and void. *Completion Date - Often referred to as the closing date. This is the date all documentation is filed, all monies paid out and the property is yours. Closing dates are often scheduled for 30-60 days from the date of agreement. *Time to Examine Title - Seniors Club 101 February meeting by Mary Cannon Senior Citizens Club 101 met at the Latcham Centre on Wednesday, Feb. 21 at 2 p.m. In the absence of our president, Clara Warren took the chair. Final plans were made for the Roast Beef Dinner on April 14 at 5 p.m. Club members free, others $5.00. Jim Martyn gave information on future trips. Get well cards have been sent to Mrs. Davidge, Harold Cornish, Eva Hunter, Jim McHarg and Stan Grills. Several ideas were discussed as how we can interest and involve our members. Lucky door prize winners were M. Beacock, Caroline H., May W,, Jim M_, and E. Manns. Birthday cake and cookies were served and a social time followed. Next meeting is March 10 which will also be a pot luck supper. Meeting - Mar. 10 at 2 p.m. Euchre- Mar. 13 at 8 p.m. Euchre- Mar.17 at 1:30 p.m. Meeting - Mar. 24 at 2 p.m.