An Offer to Purchase a home that includes one or more conditions that must be met before the sale is official is known as a conditional offer. These conditions can include obtaining a mortgage, passing a home inspection, or selling the buyer’s current home. The sale is only finalized once all specified conditions are satisfied, ensuring both parties’ requirements are met.

*The information provided is for educational purposes only and should not be considered legal advice. For specific legal concerns or questions related to your mortgage, it is always best to consult with a qualified legal professional.*

Mortgage Education

  • Total Debt Service Ratio (TDS)

    The percentage of gross income allocated for payments of principal, interest, taxes, and heat (P.I.T.H.), along with other debt obligations, [...]

  • Title Insurance

    Title insurance protects property owners and lenders from financial loss due to defects in the title of real property. These [...]

  • Understanding Mortgage Terms and Amortization

    When it comes to securing a mortgage in Canada, two critical concepts you need to understand are mortgage terms and [...]

  • Breaking Your Mortgage Contract in Canada

    Breaking a mortgage contract in Canada is a significant decision that can have various financial implications. Whether you're considering this [...]

  • Mortgage Relief Options

    Facing financial difficulties can be overwhelming, especially when it comes to managing your mortgage payments. Fortunately, there are several [...]