Buying a home? Unconditional Offer?

When you are buying a home and would like to place an unconditional offer (subject free) to purchase, I want you to be aware of the risks.

Unless you have full purchase price in cash sitting in your bank account, you will need a mortgage.


No broker, bank, lender, realtor can guarantee that you will be 100% approved upfront.

The lender must review ALL your documents before approving a mortgage.

Let’s assume you have a large salary, great credit and a big downpayment, what can go wrong?


Your lender must review the property as well. There are alot of things that can go wrong. Just a few examples:

– House could be a past grow op
– Condo can have insufficient reserves
– Condo with ongoing assessments or incomplete repairs
– Asbestos used in construction
– Bad condition of the property / teardown

The list goes on.

Financial conditions are there to protect you. During that time all the paperwork is reviewed by the lender and any problems are worked out.

Without it there is no safety net to withdraw your offer if you don’t get approved for a mortgage.

Now you know.

Call your broker before writing a firm unconditional offer.

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