In order to purchase a house you must submit an offer to the owner of the property. The offer is usually contained in a document called an Offer to Purchase. The Offer to Purchase can be obtained from your real estate agent. You are required to provide the following information in the Offer to Purchase, among other things:

1. Purchase Price
2. Amount of Deposit
3. Date you require the property
4. Any deadlines as to when you can arrange financing
5. Any conditions as to a survey certificate and zoning memorandum

The Offer to Purchase is submitted to the owner of the property along with the deposit, and if accepted, there is a binding agreement of purchase and sale. If you decide not to proceed with the transaction, the owner can commence legal proceedings against you for compensation for all losses suffered by your failure to complete the purchase. The owner may forego any legal proceedings and simply forfeit your deposit. If you proceed with the transaction, you must provide your lawyer with a copy of the Offer to Purchase and another copy to your bank.