How To: Writing an Offer

What to Have Before Writing Your Offer

Before drafting an offer, it’s critical that your client relationship is properly established and compliant. These items should be completed at the outset of working with your client.

1. DORT (Disclosure of Representation in Trade)

This form must be completed at the beginning of your agency relationship. It clearly outlines who you represent in the transaction and ensures the client understands the nature of that relationship. Completing the DORT is mandatory to remain compliant with BCFSA requirements and must be in place before providing trading services or writing an offer.

2. Privacy Notice & Consent

This form should be collected alongside the DORT. It explains how your client’s personal information will be collected, used, stored, and shared throughout the real estate transaction. Properly executed privacy consent protects both you and your client and is required for compliant handling of personal data.

3. FINTRAC Identification

While FINTRAC ID is technically required at the time of writing the offer, best practice is to collect this information at the very start of the client relationship. Incorporating FINTRAC identification into your onboarding process helps avoid delays once an offer is ready to be written and ensures compliance with federal reporting requirements.

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What to Have When Writing Your Offer

Once you are ready to prepare the offer, ensure the following documents are reviewed, completed, and attached as applicable.

1. Contract of Purchase and Sale

This is the core legal agreement outlining the terms of the transaction, including price, deposit, subjects, completion dates, and conditions.

• 1a. Strata Addendum I & II (if applicable)
  Required for strata properties to address strata-specific disclosures, documents, and buyer acknowledgements.

• 1b. Addendum I & II (if applicable)
  Used to include additional terms, conditions, or clauses not contained in the standard contract.

2. Title

A current title search should be reviewed to confirm legal ownership, registered charges, easements, covenants, or other interests that may affect the property.

3. Property Disclosure Statement (PDS)

If provided by the seller, the PDS must be reviewed with your buyer and acknowledged as part of the offer package.

4. Disclosure of Expected Remuneration

This disclosure outlines how you are being compensated in the transaction and must be provided to the client to ensure transparency.

5. Disclosure of Assignment Terms (if applicable)

Required when the contract includes the right to assign. This form discloses the terms and implications of assignment to all parties.

6. Disclosure of Interest in Trade (if applicable)

Mandatory if any party to the transaction has a personal or professional interest in the trade that could influence the transaction.

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After the Offer Is Accepted

Once the offer has been accepted, the following documents and information must be collected and submitted promptly.

1. Subject Removal Form (if applicable)

Completed when subjects are removed, confirming that conditions have been satisfied or waived by the buyer.

2. FINTRAC Receipt of Funds Records

If your client pays a deposit, receipt of funds documentation must be completed and submitted in accordance with reporting requirements.

3. Lawyer or Notary Information

Collect and provide your client’s legal representative details to ensure timely communication and smooth progression toward completion.

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Commission and Completion

Once your deal has been processed by the conveyancing department, you will receive a Confirmation of Commission. It is your responsibility to review this document carefully and confirm that the commission details are accurate.

Commission is paid out upon completion of the transaction and after all necessary documents have been provided to the office via SkySlope. For more information on SkySlope, click here.