The two most common kinds of conditions placed on home offers are the financing condition and the home-inspection condition. Both are meant to protect homebuyers, and removing either one places buyers at risk.
Take the financing condition as an example. Under this condition, the sale of the home only goes through if the buyer can secure a mortgage. If they can’t get the funds for whatever reason, they’ll be able to back out of the contract without any consequences. Then there is the home inspection condition that people are commonly waiving these days. This is of greater concern.
Unconditional offers have become such a concern that some real estate brokerages require their clients to sign a form stating that they understand the risks involved.You might not be able to avoid a no-conditions offer, but you can take some steps to protect yourself.Article content