Conditional Acceptance

The conditional period is a time for you to perform further due diligence on the house you're about to purchase.

Once your offer to purchase a home has been conditionally accepted, there are several steps you will need to take in order to move forward with the purchase. Here is a general outline of what you can expect:

1. Review the terms of the offer: Make sure you understand all the terms of the offer, including the purchase price, closing date, and any contingencies that were included in the offer.
2. Get a mortgage: If you are financing the purchase with a mortgage, you will need to work with a lender to review the financing for the property; securing an interest rate and ensuring you can manage your new monthly payment. The mortgage lender will also start their due diligence to validate the value of the house.
3. Have a home inspection: It is generally a good idea to have a professional home inspector look at the property to identify any potential issues or problems. The home inspector will walk through the property and highlight and potential deficiencies or items you should be aware of.
4. Contact your insurance company: you will want to notify your insurance company that you plan to purchase a new house. The insurance company will ask a range of questions to ensure your new house will qualify for home insurance. A typical condition of your mortgage by the financial institutions is proof of home owners insurance.
5. Review the home inspection report: Once you receive the home inspection report, you will need to review it carefully to determine if there are any issues that need to be addressed before closing.
6. Negotiate any necessary repairs: If the home inspection report identified any issues that need to be addressed, you may need to negotiate with the seller to have those repairs made before closing.

Once you're satisfied with the results of your inquiries and inspections, we will notify the sellers that the conditions have been fulfilled. Once complete, you now have a binding agreement to purchase!