What are common conditions in Alberta purchase contracts?
Quick Answer
Short answer: Financing, home inspection, condo-document review, sale-of-buyer's-home, and lawyer review top the list.
Detailed Explanation
Standard Alberta conditions protect buyers during due diligence:
- Financing Condition – mortgage approval within 5-10 days
- Inspection Condition – professional property assessment
- Condominium Documents – review bylaws and finances (condo only)
- Sale of Buyer's Property – must sell existing home first
- Lawyer Review – legal counsel approves transaction
Each condition has specific timelines and waiver requirements; missing deadlines can void the deal.
- Multiple conditions create complex deadline management
- Sellers prefer fewer, shorter conditions
- Professional help recommended for condition management
Disclaimer: This page is for general information only and does not constitute legal, financial, or real estate advice. Always verify details with a licensed Alberta REALTOR®, mortgage professional, or lawyer before making decisions. Buy in Edmonton assumes no liability for actions taken based on this content.
Tim Grover, RE/MAX Excellence • 780-288-5144 • 5607 199 Street NW, Edmonton, AB
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