Conditional Offer(s)

Hey folks, say you have an offer accepted conditional upon home inspection up until 5:00 pm of fifth day from acceptance of this offer. And you do your inspection, everything turns out fine, and you go ahead and remove your condition to firm up the purchase. But what if there are some issues that are uncovered through the inspection? In that case, you can submit an amendment to the sellers, itemizing these issues and hope that the sellers will accept the terms of this amendment. It is highly important though, that this amendment is accepted by all the parties prior to the 5:00 pm deadline. Otherwise, without you waiving this condition, the offer can be considered null and void, and the sellers can accept another offer. For this reason, I always make sure that the amendment is submitted way in advance of the condition deadline, because if for some reason, the parties cannot come to an agreement to the terms of the amendment, then my clients still have the option to waive their condition and firm up on their purchase. Feel free to give me a call with any of your questions. You take care.