Medcof ORGS 5100 W21

New House

This is a negotiation between a home owner (seller) and a home buyer over a private home sale. You
will play the role of HOME SELLER. You will negotiate about the following eight issues:

- Price
- Property Condition Upon Possession
- Deposit
- Closing Conditions
- Closing Date
- Fixtures and Chattels
- Repairs
- Representations, Warranties and Liabilities

Your goal, as the Home Seller is to reach an agreement with the Buyer on all eight issues that is best for
you. THE RESULTS THAT ARE BEST FOR YOU GIVE YOU THE MOST POINTS - THE MORE POINTS YOU
EARN, THE BETTER IT IS FOR YOU. You may determine what results are best for you by referring to the
seller Payoff Schedule.

You should note that each issue has a different degree of importance to you, as indicated by the number
of points that you could gain or lose. For an agreement to be binding, you need to reach an agreement
with the Buyer on all eight issues.

DO NOT, AT ANY TIME, BEFORE, DURING, OR AFTER THE NEGOTIATION, tell the
other person how many points you are getting. DO NOT LET THE OTHER
NEGOTIATOR SEE YOUR POINT SHEET – that information is strictly for you.

Background:
A relative, who lived next door to you, has recently passed away. They left you their house – an old 2-
bedroom, 1 bathroom house located 45 minutes away from downtown Toronto. You have decided to
sell it privately. You have priced the house at $1,200,000. You have been contacted by a prospective
buyer.
Medcof ORGS 5100 W21

SELLER PAYOFF SCHEDULE

Options Points
Price $1,200,000 0
$1,190,000 -400
$1,180,000 -800
$1,170,000 -1200
$1,160,000 -1600
Closing Date August 15th 0
July 30th 100
July 15th 200
June 31st 300
June 15th 400
Non-Refundable 5% 0
Deposit 10% 50
15% 100
20% 150
25% 200
Closing Conditions None 400
Conditional Upon Inspection 300
Conditional Upon Financing 200
Conditional Upon Insp. & Fin. 100
Conditional Upon Insp. & Fin., Lawyers Approval 0
Home Condition As is (none) 800
upon Possession Broom Swept Interior 600
Professionally Cleaned Interion 400
Professionally Cleaned Interior, exterior 200
Professionally Cleaned int., ext., removal of all contents/debris 0
Fixtures and All fixtures and chattels 0
Chattels included Most with minor exceptions (chandelier, mirrors) -150
Most with major exceptions (major furnishings) -300
Some with major exceptions (major furnishings, kitchen appliances, -450
televisions)
None -600
Repairs prior to None 1000
possession Incidental 750
Minor 500
Major 250
All 0
Representations, None (as is) 600
Warranties, and Only foundation 450
Liabilities Foundation, Insulation (Asbestos, UFFI, etc.) 300
Foundation, Insulation, Electrical, Plumbing 150
All 0