What Does Sold Conditionally Mean In Ontario Real Estate?
Posted by Frank Polsinello on
A "sold conditional" status in Ontario real estate refers to a situation where a property has been conditionally purchased by a buyer, but the sale is still subject to certain terms and conditions being met before it can become final. This is different from a property being "sold firm," where the sale is considered final and binding once the agreement has been signed by both parties.
In a conditional sale, the buyer and seller will have agreed on the purchase price and other important details, but the sale is contingent on certain conditions being met within a specific timeframe. These conditions could include the buyer obtaining financing, the property passing a home inspection, or the seller finding suitable housing.
It's important to note…
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