Financing
The buyer arranges a mortgage they're satisfied with. Pre-approval helps, but the lender still has to approve this property, often after an appraisal.
Buyers & Sellers · Ontario · Updated October 2026
What does "sold conditionally" mean in Ontario?
A buyer and seller have signed an agreement, but the buyer still has conditions to meet, like financing or an inspection, before the sale is final. Here's how it works, what can still change, and what to do if you're buying or selling.
Matthew Gizzie, REALTOR®, Keller Williams Realty Centres. General information, not legal advice.
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For saleListed and taking offers
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Sold conditionallyAgreement signed, conditions still open. Often shown as SC, or SCE with an escape clause.
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Sold firmConditions waived or fulfilled. Both sides are bound.
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ClosedMoney and keys change hands on the closing date.
The short answer
"Sold conditionally" means an offer has been accepted but includes conditions that must be fulfilled or waived by a set deadline. If they are, the sale becomes firm. If they aren't, the standard Ontario condition wording makes the agreement null and void and calls for the deposit to be returned.
How it works
From accepted offer to firm sale
The condition period is a countdown. What happens at the deadline depends on whether the buyer gives written notice in time.
Notice must be in writing
A condition is removed by a signed waiver or notice of fulfillment, delivered the way the agreement allows, before the deadline. A phone call doesn't count.
Deadlines are strict
Courts generally enforce real estate deadlines and notice terms as written. A waiver delivered late or the wrong way may not work.
The deposit isn't automatic
Even when the standard wording says the deposit is returned, brokerages usually release trust funds with a mutual release signed by both sides.
The conditions
The conditions you'll see most
Home inspection
The buyer has the home inspected and is satisfied with the report. It's a chance to find problems, not a guaranteed way out of a deal.
Sale of the buyer's home
The buyer has to sell their current home first. Sellers often accept it only with an escape clause, so they can keep marketing.
Status certificate review
The buyer's lawyer reviews the condo corporation's status certificate: finances, reserve fund, rules and any special assessments. Condo buying guide
Well and septic
Water testing, flow and septic inspection, which matter on many properties in Uxbridge, Georgina and East Gwillimbury.
Insurance
The buyer confirms they can insure the home on acceptable terms, which can matter for older wiring, oil tanks or wood stoves.
Each condition has its own wording and deadline in the agreement. Your lawyer is the right person to review the exact terms before you sign.
SC vs SCE
Conditional, with or without an escape clause
Listing sites often show a conditional sale as SC. SCE means the agreement has an escape clause, usually tied to the sale of the buyer's home, and the seller can keep marketing.
| Sold conditionally (SC) | With escape clause (SCE) | Sold firm | |
|---|---|---|---|
| Can the seller accept another offer? | Not to replace this buyer. A backup offer can be signed that only takes effect if this deal ends. | Yes. If another acceptable offer arrives, the seller gives the first buyer notice under the clause. | No. The sale is binding. |
| What the first buyer must do | Meet or waive the conditions by the deadline. | Within the notice window, often 24 to 72 hours, waive the conditions or step aside. | Close on the closing date. |
| Can you still view it? | Sometimes, if the seller allows showings for backup offers. | Usually, because the seller is still marketing. | No. |
| Risk to the buyer | Missing a deadline or a defective notice. | Having to firm up before due diligence or a home sale is finished. | Losing the deposit and facing a claim if they don't close. |
The notice window, delivery method and what counts as firming up come from the clause itself, not the listing status. Sources: Woitzik Polsinelli LLP (March 2026) and Nihang Law (February 2026) on Ontario escape clauses.
What to do
If you're buying, and if you're selling
Buying
Your conditional offer
- Book everything on day one. Inspector, lender and lawyer, so the deadline doesn't arrive before the answers do.
- Don't change your finances. No new loans or big purchases until the mortgage is firm.
- Use the condition honestly. A condition protects you only if you make real efforts to satisfy it. It isn't a free exit.
- Want a home that's already SC? Ask about a backup offer, and have your lawyer draft how it takes effect.
My buyer benefits include up to $600 back on your home inspection and up to $350 on an appraisal, written into your buyer agreement. Full terms
Selling
Accepting a conditional offer
- Weigh the conditions, not just the price. A slightly lower firm offer can be worth more than a higher one with a long financing condition.
- Keep the deadlines short and realistic. Long conditions keep your home off the market without a sale.
- Insist on an escape clause if you accept a condition on the sale of the buyer's home.
- Follow the notice terms exactly if you trigger the escape clause. A defective notice can leave you bound to the first buyer.
Pricing decides how many offers you'll get to compare. How I price a home
No cooling-off
A resale purchase has no cooling-off period in Ontario. Once the conditions are waived or fulfilled, the buyer can't simply change their mind. New-build homes and condos have different rules, so ask your lawyer.
Working with me
Conditions are a negotiation
Matthew Gizzie, REALTOR®, Keller Williams Realty Centres
Timing
How many days a condition gets depends on the market, the property and how quickly the work can really be done. I set them from what's needed, not a template.
Which conditions
Before an offer, I go through what you actually need to protect, so you don't give up protection you need or keep conditions that only weaken your offer.
Your lawyer, early
Condition wording, escape clauses and backup offers are legal documents. I'll make sure your lawyer sees them before you sign, not after.
Common questions
Sold conditionally FAQ
What does "sold conditionally" mean in Ontario?
A seller has accepted an offer that includes conditions, such as financing or a home inspection. The sale becomes firm only when those conditions are fulfilled or waived in writing by their deadline.
Can I still make an offer on a home that's sold conditionally?
Often, yes. You can usually make a backup offer that only takes effect if the first deal ends. If the listing shows an escape clause (SCE), your offer can also trigger the first buyer's deadline to firm up or step aside.
What happens if a condition isn't met?
Under the standard Ontario condition wording, if the buyer doesn't give written notice by the deadline, the agreement becomes null and void and the deposit is to be returned. In practice, brokerages usually release the deposit once both sides sign a mutual release.
What is an escape clause?
A clause, usually paired with a condition on the sale of the buyer's home, that lets the seller keep marketing. If another acceptable offer arrives, the seller gives notice and the first buyer has a short window, set in the clause, to waive their conditions or step aside.
Can a buyer walk away during the condition period?
Only through the conditions, and only in good faith. A condition is meant to be satisfied with honest effort. Walking away for an unrelated reason can lead to a dispute over the deposit.
Is there a cooling-off period on a resale home in Ontario?
No. Once a resale agreement is firm, there is no cooling-off period. New-build homes and condos have separate rules, so check with your lawyer.
Buying or selling in York Region, Uxbridge or Simcoe County?
Get the conditions right before you sign.
Tell me what you're buying or selling and your timing. I'll walk you through which conditions make sense and how long they should run.
Updated October 21, 2026. Sources: Woitzik Polsinelli LLP, "Escape Clauses in Ontario Real Estate" (Mondaq, March 30, 2026); Nihang Law, "Understanding the SC Escape Clause in Ontario Real Estate" (February 2026); Siskinds LLP, "What happens to your real estate deposit when conditions aren't fulfilled"; OREA standard forms for waivers and notices of fulfillment.
General information only, not legal advice. The terms of your own agreement govern. Have a real estate lawyer review any agreement, condition, waiver or escape clause before you sign. Matthew Gizzie, REALTOR®, Keller Williams Realty Centres, Brokerage. Not intended to solicit buyers or sellers currently under contract.
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