Review the whole proposal
Check the property, price, deposit arrangements, completion date, inclusions and exclusions. Ask how equipment rentals or other obligations are handled. Keep a note of anything that was discussed verbally and confirm whether it needs to appear in the written agreement.
Make conditions specific to the uncertainty
Financing, inspection and condominium-document review are examples of matters that may need investigation. Discuss which conditions are appropriate, how they are worded and what must happen by each deadline. A condition’s effect depends on the actual contract; a familiar label is not enough.
Understand the risk before removing protection
RECO warns that mortgage pre-qualification does not safely remove the need to consider a financing condition. If you are thinking about an offer without conditions, discuss the consequences with your advisers first. Competitive pressure does not answer the underlying financial or property questions.
Keep the response and deadline plan clear
Decide who is arranging each review, when results are needed and how decisions will be communicated. Sellers should weigh the terms and ability to complete as well as price. Both sides should obtain advice before assuming a deadline, notice or change can be handled informally.
Check the details
These sources explain rules, services and responsibilities. Confirm the details for your property and circumstances with the appropriate professional.
Content updated .