What Makes an Offer Conditional
A condition is a term that must be satisfied before the sale goes ahead. Common ones are:
- Financing: your lender approves the mortgage
- Home inspection: you're satisfied with a professional inspection
- Condominium documents: you review the bylaws, financials and minutes
- Sale of your current home
- Insurance: you can insure the property
Each condition has a deadline. If you satisfy it, you sign a waiver and the deal moves on. If you can't, and you say so by the deadline, the contract ends, your deposit is returned and no one is in breach. See What are "conditions" in a real estate contract?
What Makes an Offer Firm
A firm offer has no conditions, or all of them have been waived. It's binding the moment both parties sign. In British Columbia this is called a subject-free offer. If a buyer with a firm contract doesn't complete, the seller can keep the deposit and may sue for further losses, so you make a firm offer only when financing and your own due diligence are already settled.
Side by Side
| Conditional offer | Firm offer | |
|---|---|---|
| Binding when | All conditions are met or waived | Both parties sign |
| Buyer's protection | Can walk away if a condition fails, deposit returned | None once signed |
| Appeal to the seller | Less certain; the home may stay on the market as conditionally sold | More certain; often wins in competing offers |
| Timing | Days or weeks to firm up | Immediate |
Going From Conditional to Firm on Bōde
- When your offer is accepted, Closing Steps lists each condition with its deadline.
- Complete your due diligence: lender approval, inspection, document review.
- Waive each condition before its deadline from Closing Steps. Bōde notifies the seller.
- When the last condition is waived, the deal is firm. The deposit stays in trust, the lawyers prepare closing, and the timeline moves to Possession Day.
See How do I remove conditions on an offer? and What happens after an offer is accepted?
Read our guide to managing offer conditions
In British Columbia
Whether your offer is conditional or firm, a BC buyer also has the Home Buyer Rescission Period: three business days after acceptance in which they can cancel for a fee of 0.25% of the price. See What is the Home Buyer Rescission Period in British Columbia?
Which Should You Choose?
A conditional offer protects you; a firm offer competes harder. If you're pre-approved and have already inspected the home, you may be comfortable going firm. If not, keep the conditions and set realistic deadlines. Ask Bōdie: Which conditions should I include in my offer on this home?