Conditions in an Ontario offer: which ones matter and why

A condition gives you a defined window to verify something and to walk away with your deposit if it does not check out. The common ones are financing, home inspection, review of a condo status certificate, insurance availability, and for rural property, water quality and septic.

Each condition has a deadline and a required form of notice. Miss the deadline and the condition is generally treated as satisfied, so calendar every date the moment your offer is accepted.

In competitive situations buyers are often pressed to waive conditions. Understand what you are giving up: a firm offer means you are committed even if financing fails or the inspection finds a structural problem.