Your Guide On Conditional Home Sales
Posted by Admin Staff on
Have you ever found a home that you were interested in buying, only to find that near the bottom of the page the status reads, "conditional sale" ? What does that mean? Is the home sold, or isn't it? Sold listings are taken down since they're no longer active on the market, so why is a home that is conditionally sold still up there?
A conditional sale is much like the photo above. Each domino represents each part of the agreement, and the action of the dominoes falling one after the other represents these parts being completed/agreed upon. The hand stopping the action represents a condition, or a part of the agreement, that has not yet been met. Simply put, when a home is ‘sold conditionally’, it means that a buyer and seller have come to an…
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