Step 1: The Conditional Period (The First Milestone)
An accepted offer doesn’t mean the deal is done yet! Most offers include conditions that must be met before the sale becomes firm. Think of it as a “yes, but first…” stage.
Key Conditions & Their Timelines
✅ 1. Financing Condition (Typically 14 Days)
Most buyers require mortgage approval, which takes about two weeks. This includes:
✔ Bank approval for the mortgage
✔ Property appraisal (if required)
💡 Pro Tip: If you’re making a cash offer, you can close in as little as 24 hours!
✅ 2. Building Inspection (5-14 Days)
A professional home inspection ensures you know what you’re buying.
✔ Inspection report highlights any potential issues
✔ Buyers can negotiate repairs or price adjustments
✔ Some buyers waive inspections in competitive markets
✅ 3. Sale of Current Home (30-45 Days, If Applicable)
If you need to sell your home first, expect a longer timeline.
✔ Typically takes 30-45 days
✔ Less common in fast-moving markets
✔ Some sellers won’t accept this condition
Step 2: Factors That May Affect Your Closing Timeline
Several additional factors can either speed up or delay the process.
Common Extra Conditions (Usually Parallel to Other Steps)
✔ Water tests (for rural properties)
✔ Chimney inspections
✔ Septic system evaluations
✔ Reviewing legal documents
Market Conditions & External Delays
📌 Peak seasons (spring/summer) may cause slower processing
📌 Bank processing times fluctuate throughout the year
📌 Pandemic-related delays still impact some transactions
Step 3: The Final Steps Before Closing
Once all conditions are met, your offer becomes firm. The final steps are straightforward:
✔ Meet with a notary to finalize the legal paperwork
✔ Sign the deed of sale
✔ Receive your keys & celebrate your new home! 🎉
How to Speed Up the Process: Expert Tips
Want to close faster? Here’s how:
✅ Get pre-approved for your mortgage
✅ Have your home inspector ready before making an offer
✅ Organize all necessary documents in advance
✅ Maintain clear communication with your agent & lender
✅ Work with an experienced real estate team
📍 Related: Understanding the Offer Process When Buying a Home in Canada
Need Help Selling Your Home?
Every home has the right buyer—sometimes, it’s just about making the right adjustments.
If you have questions about why your home isn’t selling or want an expert’s opinion on market conditions in Quebec, reach out today!
📞 Call Peter Thompson: (438) 500-8344
📩 Email: peter@peterthompson.ca
🏡 About Peter Thompson
Peter Thompson is a Quebec real estate expert specializing in helping homeowners navigate complex market conditions. Contact him today for a personalized home sale strategy.
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