What does it mean when my home is conditionally sold?
A conditional sale means you've accepted an offer, but the buyer still has certain requirements to satisfy or waive before the sale becomes firm. Common conditions include financing approval, a home inspection, or condominium document review. Some offers may also be conditional on the buyer selling their existing home. Each condition has a deadline outlined in the contract. I'll help you understand the conditions, monitor the timelines, and keep you informed until the sale becomes firm or the contract ends according to its terms.

Conditional Sales in Brief


  • A conditional sale means an offer has been accepted, but the sale isn't firm yet.
  • Buyers must satisfy or waive conditions before deadlines.
  • Common conditions are financing, inspection, and document review.
  • Sale-of-property conditions may include an escape clause.

Common Buyer Conditions


  • Mortgage financing
  • Home inspection
  • Condominium document review
  • Real Property Report review
  • Sale of the buyer's home

Your Role During the Condition Period


Provide access for inspections and appraisals, and keep the home in the same condition. Requests for documents should be answered quickly to keep things moving.


Sale-of-Property Conditions


If the buyer needs to sell their home first, the contract may let you keep marketing your property. If another offer comes in, the first buyer may have a short time to remove their condition or step aside.


When the Sale Becomes Firm


Once all conditions are satisfied or waived in writing, the sale is firm. If a condition isn't met by its deadline, the contract usually ends according to its terms.


While You Wait


It's natural to feel anxious while a sale is conditional. Avoid packing or committing to moving dates until the sale is firm, unless you're comfortable with the risk. I'll keep you updated on progress, from inspections and appraisals to financing approval.


Keeping You Informed


I'll monitor deadlines, communicate with the buyer's agent, and keep you updated until the sale is firm.