What conditions can I put in an offer to purchase in Saskatchewan?
This answer covers the law of Saskatchewan.
Which conditions you put in your offer to purchase, and how they become part of the deal, depend on your situation, so it is worth confirming with a lawyer. Each should say exactly what must happen, who must act, and the date by which it must be done, so nobody has to argue later about what was agreed.
How a condition is removed, waived or left unmet, and what follows if it is not satisfied in time, depends on the wording of your contract, so it is worth confirming the details with a lawyer. That is why the wording and dates matter more than any general rule.
If you are buying a resale condominium unit, you can request an estoppel certificate from the corporation, which covers fee payment status, contribution amounts, insurance, and outstanding lawsuits or judgments against the corporation. For a new condominium, the developer must give you a copy or description of the purchase agreement, bylaws, management agreement and condominium plan, among other documents. A lawyer can help you word conditions around these documents before you sign.
Key takeaways
- Common conditions include financing, a home inspection, the sale of your current home and a review by your lawyer.
- Each condition should state what must happen, who must act and the date by which it must be done.
- How conditions are dealt with, and what happens if they are not met by the deadline, depends on the wording of your contract and your situation, so it is worth confirming with a lawyer before the deadline arrives.
- For a resale condominium unit you can request an estoppel certificate from the corporation.