Understanding Conditions: Conditions are clauses in the agreement that the buyer needs to fulfill within an agreed-upon timeframe (typically 5-14 days) before the sale becomes binding. These may include:
Home Inspection: The offer may be conditional upon a satisfactory home inspection.
Financing: The buyer may make the offer conditional upon obtaining financing.
Navigating the Conditional Period: During this period, if the buyer identifies issues they perceive as negative, they may choose to renegotiate the price or withdraw from the deal altogether.