What does Offer to Purchase subject to bond approval mean?

You can include a condition in the Offer to Purchase that the offer only becomes valid once you have a home loan approved.

This ensures you’ll have the funds available to pay for the home. It provides a sense of security for both buyer and seller.

The home loan application takes place after the Offer to Purchase is signed. It generally takes between seven days and two weeks for a home loan to be approved.

It’s up to the seller and buyer to agree on a realistic deadline date for the home loan to be approved.