Solutions

Solutions

This section is designed to answer your burning mortgage questions and address everything from basic mortgage definitions to more complex insurance options.

Mortgage Glossary

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O

Offer To Purchase

A written contract setting out the terms under which the buyer agrees to buy. If accepted by the seller, it forms a legally binding contract subject to the terms and conditions stated in the document.



Option Agreement

A document stipulating that, in exchange for a deposit, a specified individual is to be given the first chance of buying a property at or within a specified period of time. An option holder who does not buy at or within the specified period loses the deposit and the agreement is cancelled.



Location

UNIT 102, 2016 SHERWOOD DRIVE
Sherwood Park, Alberta
T8A3X3