What does it mean to waive a condition in an Ontario real estate deal?

Waiving a condition means you are confirming that the condition has been satisfied (or that you are choosing to proceed without requiring it to be satisfied) and that you are committed to completing the purchase. The waiver is typically delivered in writing to the seller or seller's agent before the condition deadline. Once all conditions are waived, the deal becomes firm and unconditional.

A waiver is irrevocable. Once you waive a condition, you cannot "un-waive" it if you later have second thoughts or if something new comes to light. This is why it is important to make the waiver decision deliberately. If your financing was not fully confirmed, your lawyer has not finished reviewing the status certificate, or your inspector identified a problem you have not yet evaluated, do not waive until you are truly satisfied.

In practice, the written waiver form is a simple document your agent will prepare. Your lawyer may also advise you on timing. If you are satisfied on all conditions and ready to proceed, waiving on time keeps the deal alive and signals your commitment to the seller.