One of the first documents your Saskatoon REALTOR® will need is FINTRAC. This is an identification form to ensure that you are who you say you are as Ottawa is keeping a careful eye on real estate in Canada to decrease the incidence of money laundering through real estate.
Second is Agency Disclosure. As professionals we have certain rules, regulations and ethics that we must follow and this outlines what our relationship is in either a “Buyer’s Agency” or “Seller’s Agency” or “Limited Dual Agency”. Your Saskatoon real estate agent should always be looking out for you first and foremost but if you feel they are not and they are disclosing confidential information that is affecting your ability to negotiate fairly then they are in breach of their fiduciary duties and are not following the Agency Agreement.
If we are representing a buyer and seller who are both under contract with Century 21 or if the same agent is representing both buyer and seller we have another form called Limited Dual Agency Agreement . If you are not comfortable with this arrangement we can arrange for another agent to represent you, the buyer.
The Residential Contract of Purchase and Sale is a 3 page document that is presented to the Saskatoon home seller and acts as your offer. This offer is where we outline who is buying the house, the price you are offering, the deposit you are going to give, your down payment amount as well as conditions of the purchase such as financing and home inspection, the possession date, and any items you want left with the house aside from the fixed items that must be left with the house.
Along with the Offer we also have Ancillary Services where your Saskatoon real estate professional will ask you what inspections and reports you want done on the property. This is a mandatory form but is not presented with the offer.
If your offer has a lot of extras and we run out of room we have another blank Schedule “___” that goes along with the offer.
For the purchase of one of the condos for sale in Saskatoon you also have a Schedule C which is for the condo documents that you need to review in your purchase such as the Estoppel Package, rules and regulations, financials, etc.
There may be other documents along the way that your trusted Saskatoon REALTOR® will have you sign but these are the basics for the first offer.
At the time of writing the offer your agent should also be asking you for a deposit cheque, even though the offer has not yet been accepted, it is in accordance to our bylaws that we have a deposit at the time of writing the offer.