Imagine you’re shopping for a new home and find the perfect one. You don’t want to lose it. So, if you want to be as competitive as possible, should you go in with no conditions?While a “no conditions” offer will definitely give you an edge, it’s crucial that you make a thoughtful decision before going ahead.
The first thing you need to consider is the state of the market. Is it a hot seller’s market where properties are getting multiple offers? Or, is the market more balanced? In a balanced market, and especially in a buyer’s market, you might not need to risk going in with no conditions. In fact, offers with conditions may be the norm.
Another important consideration is risk. Imagine making a no-conditions offer on an older property, then finding out weeks later that there’s mold in the washroom, and the tile needs to be torn out and replaced. Ouch! A condition on passing a home inspection would likely have identified that issue.
The bottom line is this: If you’re thinking about a no-conditions offer, get good advice first. Make sure you’re making the right decision.
