You Were Asking: Conditional Offer

Conditional Offer

If you are a seller, your dream offer would be what we call a “clean offer”, no conditions, just a negotiated firm offer between buyer and seller. A conditional offer has one or more uncertainties which may pertain to financing, a home inspection, the purchaser selling her home or any other variable agreed upon between the parties involved. 

If you are a purchaser, you must understand that although you have instructed your sales representative to negotiate your deal based upon a certain condition, ie. financing, you have not bought the house until you are able to remove the condition which will make the transaction firm and binding. And, further, if you get cold feet, you cannot simply walk away from the deal refusing to remove the condition. 

You may be called upon to prove that you were not able to remove the condition, ie. obtaining a letter from your financial institution indicating you were unable to acquire the adequate financing. 

Should you need any assistance buying or selling, give me a call!