News & Articles: Conditional Offers
Conditional offers are Offers to Purchase that have conditions which must be met before the contract becomes binding. Today, conditional offers are common. In many cases, conditional offers specify that for the transaction to be completed, certain requirements must be met by specific dates and times. These conditions vary from offer to offer, and may protect the buyer, the seller, or both. An offer may be conditional on the purchaser being able to obtain suitable financing, on the home passing an inspection by a qualified home inspector, or on the buyer being able to sell his or her current property by a specific date. If the conditions aren’t met, the o0ffer becomes void, and the purchaser’s deposit will be returned.
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