How Conditional Offers Work in Alberta for Home Buyers

Short answer: A conditional offer in Alberta becomes firm only after you remove (waive) each condition by its deadline, commonly financing, inspection and, for move up buyers, the sale of your current home. If a condition isn’t met you can walk away and get your deposit back. Conditions protect you but can weaken your offer in a competitive market, so a solid pre-approval lets you use fewer, shorter conditions.

Common Conditions

• Financing: subject to mortgage approval
• Inspection: subject to a satisfactory home inspection
• Condo documents: subject to reviewing the condo package
• Sale of buyer’s home: subject to selling your current property

How They Work

1. Set: your offer includes the condition and a deadline, for example five business days.
2. Satisfy: if all is well, you waive it in writing and the deal is firm.
3. Not met: you can walk away and your deposit is returned.

Sale of Buyer’s Home

You make your offer subject to selling your current home within a set window, often 30 to 60 days. Sellers often dislike it because it adds uncertainty.

Escape (Time) Clauses

The seller may accept your conditional offer but keep marketing. If a firm offer arrives, you get a short window, often 24 to 72 hours, to waive your condition or walk away.

When to Use Conditions

Use them when you need time to sell, want an inspection, or have complex financing.

Be careful in a hot market, when you’re confident in your financing and the property, or when speed wins.

Financing Tips for Move Up Buyers

If you buy before you sell, lenders may want proof your home is sold or nearly sold. We structure your financing so conditions can come off fast.

How We Help

We make sure your financing is solid before you write an offer, so you can remove conditions quickly. Book a call.

This article is general information, not personal financial advice. Rates, rules and programs change. Talk to a licensed mortgage broker about your situation. Lacroix Mortgage Group is licensed and powered by Mortgage Connection Inc.