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Vancouver First Time Home Buyers Guide 14 – Offer Explanation – Subject to Financing

 Updated June 26, 2019 by Mike Stewart PREC Subject to Financing in Real Estate Offers In Episode 13 of the First Time Home Buyers Guide for Vancouver, we discussed Subject Clauses in general. Today we're going to discuss the Subject to Financing Clause in detail and how it relates to and affects a real estate offer. Chad Watts of the Mortgage Group was kind enough to come and talk to us about subject to financing. What does Subject to Financing Mean? Subject to financing basically means that a Buyer, for up to 7 days after an offer is accepted,…

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First Time Home Buyer Safety – Offers Subject to Financing – What, Why, and How!

What is an Offer that is Subject to Financing? This is an Offer to buy a property that is "Subject To" or conditional upon the Buyer getting a mortgage within a set period of time, usually one week. In plain language, the Buyer and Seller agree to give the Buyer a week to get a mortgage and if the Buyer cannot get a mortgage in that time, the Buyer can walk away from the deal with nothing lost. Why do we make offers Subject to Financing? Safety! If a Buyer presents an offer to a Seller without a Subject to…

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