- Dealing with Tenants: There are also a number of provisions dealing with tenants on the property and the buyer wanting vacant possession.
- Among the biggest cautions is that the buyer relies on his own inspection and investigation regarding quantity, quality and value.
We recommend that a Buyer:
- Make the offer conditional on buyer’s lawyer approving the terms and conditions of the offer that would include a review of the lender’s schedule to the agreement.
It’s important that all provisions in a “Power of Sale” schedule be understood before proceeding.
- Have your lawyer perform a preliminary title search and make a request for any work orders and deficiency notices from the municipality as part of the lawyer review.
- Make the offer conditional on obtaining a mortgage, being satisfied with a thorough home inspection and report and verifying any information supplied by the Seller if possible