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Typical conditions found on Conditional Offers

The majority of offers carry some type of conditions that need to be met prior to the completion of the sale. This makes the offer a conditional offer. Some of the more common conditions include:

The buyer getting a suitable mortgage. This includes the amount of the purchase price, interest rates and any other figures that the buyer chooses to include.

The buyer selling their current home. The seller may continue looking for another potential buyer, but will give you the right of first refusal.

The seller providing a current survey showing the location of the house on the property owned by the seller and that there are no encroachments.

If the buyer has any doubts of the foundational structure of the house, or concerns about safety issues, they may wish to purchase a qualified home inspection.

The seller must have title to the property. (A lawyer can verify this when they conduct a title search)

Remember the seller can counter the buyer's conditional offer by changing the conditions, price or both.