How conditions work
When your offer is accepted, it's conditional. You have an agreed number of days to satisfy each condition. When you're happy, you sign to remove them and the deal goes firm. If a condition isn't met, you can usually walk away with your deposit returned, as set out in the agreement.
The common conditions
- Financing: your lender gives final approval for the mortgage on this specific home.
- Home inspection: a professional inspector checks the structure, roof, systems and more.
- Water and septic: for rural homes, test the well water and inspect the septic system. See my well and septic guide.
- Sale of your current home: your purchase depends on selling your current place. See buying before you sell.
- Insurance: you confirm you can insure the home at a reasonable cost. This is worth adding for older homes, wood heat or riverfront properties.
- Lawyer's review: your lawyer reviews the agreement or title.
Should you ever waive conditions?
In a busy market, offers with fewer conditions can stand out. But waiving financing or inspection puts your deposit and your budget at risk. If competition is heavy, a better move is often a pre-inspection before you offer, a strong pre-approval and short condition periods.
Military buyers
On a House Hunting Trip, time is short. I line up inspectors and lenders before you arrive, so conditions can be cleared quickly, sometimes before you fly home.
General information only. Your lawyer explains the exact terms of your agreement.
Talk to Nick
Let's make a plan
Have a question about your own move? Call or text 506-304-9292, or send me a note and I'll reply within one business day.