A conditional contract means conditions apply to the sale. You may have leeway to back out if certain conditions of the contract aren't met. For instance, if you sign a conditional contract that states the property must pass a building and pest inspection to the buyer's satisfaction, the condition must be honoured.
"Agreement to Sell" is a contractual document where the seller has committed to sell the property to the buyer at a future date upon fulfilling specific conditions.
What Does a Conditional Offer Mean? When two parties agree that an offer is good to go, if specific conditions are met, the offer is a conditional offer. Mainly used in real estate sales, a conditional offer means a buyer needs certain contingencies to be met before they will officially close on the home.
A conditional sale refers to a transaction in which the purchaser receives possession of and the right to use certain goods, but the title remains with the seller until the performance of a condition is met by the buyer.