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Happy young couple getting keys of their new house. Close up of female hand receiving keys from house broker. Closeup of the hand of a real estate agent who give the house keys to a woman while her boyfriend signing a contract.

Understanding the Promise to Purchase

You’re planning on buying your very first home in the near future. You have heard of a promise to purchase (formerly known as an offer to purchase) and you are wondering what its purpose is. Here are the main details.

The promise to purchase is the result of a series of exchanges and promises between the future home buyer and the current homeowner. All the details are written down in this document. The promise to purchase is an agreement, which defines the ground rules between the two parties. If conditions are set forth, the deadlines should be clearly stated and the parties undertake to fulfill them.

The promise to purchase is an important document because, as the title states, you commit to buy the property, but under certain conditions set forth on either side. These conditions are laid down in writing in this document.

The promise to purchase is the step that comes right before the deed of sale, which is the famous contract that officially declares you the owner of the coveted house. Just about every detail written down in the promise to purchase will be found in the deed of sale. The content is very similar. Continue reading

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Winterizing a Window

One of your windows is in poor condition. For whatever reason, you couldn’t replace it before the winter season’s arrival. Here are a few guidelines to help you prevent damage or a hike in heating costs.

  • Weatherstripping is the key element in heat loss prevention. Make sure it is in mint condition.
  • Clean every part of the window with a brush or a vacuum cleaner. It can actually make a small difference.
  • If the caulk breaks when touched with a screwdriver or any other tool for that matter, it needs to be replaced.
  • Window films can reduce heat loss up to 50%. It is applied to the inside of the window on the surface of the glass and can be installed by anyone.
  • Adhesive foam tape isn’t the most durable, but it will last through a winter season.
  • You can buy draft stoppers that attach to the outside of the window on milder days.

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