Conditional Offers

You are able to "back out of an offer" if you have conditions in your accepted offer. Typically, these conditions are written in a way that it benefits the buyer & results in the offer becoming "null & void" with deposits returned IN FULL if the buyer does not "waive" or "fulfill" the condition.

Types of Conditions:

• Inspection Condition
• Financing/Mortgage Condition
• Status Certificate Condition (Condos)
• Feasibility Condition
• Lawyer Review Condition
• Etc.

What is your intention?

If you are submitting an offer your "intention" should be to buy said property. Conditions should not be used to "back out of an offer" just because.

For example: Maybe you weren't able to secure financing, perhaps, there was a horrible foundation issue that prompted you to change your mind. These could be valid reasons to back out.