Buyer's conditions in Lethbridge Real Estate, what's normal?

Real Estate Agent with Lethbridge Real

Writing conditions on Real Estate ContractMost of the time when buyer's have conditions in Lethbridge for buying a house, the conditions are financing and a property inspection. There can be many other conditions like subject to mom and dad's approval, subject to getting satisfactory insurance, and anything else you can think of, but financing and a property inspection are the main ones.  

Even when buyers are pre-approved, and pre-qualified, they will still need to put in a financing condition.  Most of the time, the bank that they are getting their mortgage from will still need to approve the house that the buyers have chosen, (to make sure that the buyers are not paying $275,000 for a house that is only worth $250,000 for example). The time period for a financing condition is normally 14 calendar days, or 10 business days.  Sometimes, approval can be faster, less than a week. 

Almost all buyers in Lethbridge will get a property inspection as part of their purchase contract (when it is new construction many will opt out, and some will opt out when it is a condo).  Most buyers will want to be 99% sure that they are going to be approved for financing before they pay money for an inspection.  (No-one wants to pay $400 for an inspection of a house that they will not be approved for).  However, if a buyer is in a hurry and concerned about the house, they may want to get the inspection out of the way sooner. Here is a list of Lethbridge Property Inspectors.

Of course, every transaction is different, but the buyers conditions we see the most in Lethbridge Real Estate are Property Inspection and Financing. 

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Jennifer is a Real Estate agent in Lethbridge, Alberta.  Some of her specialties include student buyers, out of town buyers and sellers, and extensive Internet marketing of her properties. Whether you are buying, selling, or just want some information, just call Jen at 403-795-8783

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Jennifer Brodoway, Lethbridge REALTOR®

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