A client recently asked me if they could view conditionally sold houses in Lethbridge Alberta.
In Lethbridge, houses are usually "conditionally sold" for a few weeks, before the deal goes final. This gives the buyers, and sometimes the sellers, the time to satisfy their conditions. The most common conditions we see in Lethbridge are buyers' conditions for financing and property inspection. Even after a buyer has been pre-qualified, they have to submit an accepted offer to their bank, so that the bank can approve the house being purchased. During the conditional period, buyers should have a propery inpection by a qualified Lethbridge Property inspector.
A Real Estate Transaction in Lethbridge can crash, or fail, if the buyer is not approved for financing of the house, or if the property inpsection reveals defects that are unsatisfactory to the buyer. Even if there are defects found, quite often the buyer and seller can work with their Lethbridge Realtor to work out a compromise.
If a house is owner occupied, the owners will often decline showings when a house is conditionally sold, as it can be difficult for some to prepare the home, and leave for showings. However, if the house is vacant, or if the owner is concerned that there is a possibility that the first offer will not go final, it is easier to schedule a viewing.
I would estimate that 9 times out of 10, when a house is conditionally sold in Lethbridge, the deal will go final. Thus, many feel it is a waste of valuable time to look at conditionally sold houses. If it is something you really wish to see, ask your Real estate agent to give a call to the sellers agent, so you can find out more about the status of the sale.
However, don't make the mistake of confusing a house with a clause on it, with a house that is conditionally sold. If a house has a clause on it, then the chances of that sale going final are much less. Most seller's will still be actively marketing their homes with clauses on them, and you can feel free to book an appointment with your Lethbridge Real Estate agent to take a look.