When submitting an offer to purchase a home there are a number of conditional clauses, also known as contingency clauses, that you usually would include in the Schedule A of your offer. These are contract provisions that requires a specific event or action to take place in order for the contract to be considered valid. The conditions added are for your benefit, they usually allow you to confirm some information or conduct an inspection before the offer is firm. If something regarding the condition is not satisfactory  (e.g. problems arose during the home inspection) you can back out and get back your deposit. By not having any conditions you could be placing yourself at a greater risk.  

Examples of Common Conditional Clauses:

  • Arranging financing or a Mortgage,

  • Inspection of the property,

  • Review of the Status Certificate (if a condominium), or 

  • Lawyer's Approval 

Here's an example of a mortgage condition: 

"This Offer is conditional upon the Buyer arranging, at the Buyer's own expense, a new first Charge/Mortgage satisfactory to the Buyer in the Buyer's sole and absolute discretion. Unless the Buyer gives notice in writing delivered to the Seller not later than 6:00PM p.m. on October 21, 2019, that this condition is fulfilled, this Offer shall be null and void and the deposit shall be returned to the Buyer in full without deduction."

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