A conditional offer is a condition of sale that is agreed upon by both the buyer and the seller. A time frame is set and if the condition isn’t met within the specified time, the agreement is void and the buyer receives the deposit back.
Conditional offer on your home is great
Despite a conditional offer, you should continue showing your home and holding open houses until the conditions are removed, just in case something happens and the buyer decides not to waive them.
Chances are that the buyer will end up waiving them, but you do not want to risk wasting valuable time on the market while you wait for the buyer.
Your buyer may have only asked for a few days for financing or a home inspection, but that is no reason to turn people that want to see the home away.
Conditional offer on your home usually results in a sale
If the buyer has made an offer conditional on the sale of their own home, then you should make sure that you have an escape clause in the offer, which allows you to accept additional offers, forcing the first buyer to either firm up or back out.
A conditional offer is a step in the right direction, but don’t stop trying to sell your home until the deal is firm. There are many different scenarios that can arise and ComFree would be happy to help you or point you in the right direction.