Subject to sale offers in B.C. · Vernon & the Okanagan
Get your money sorted before you fall for a house.
The strongest offer in the room is rarely the highest one. It is the one the seller believes will actually close. Get pre-approved first, decide how you will handle your current home, then shop with confidence.
Start my pre-approval Run the numbers
Free, independent education. When you're ready, Sean can introduce you to a local broker, or use your own.
Two offers on the same house
Offer A · $15,000 higher
- Subject to sale of buyer's home
- Subject to financing, 10 days
- No pre-approval letter
Seller thinks: “Maybe.”
Offer B
- Pre-approved, rate held
- Short financing subject
- Current home already sold or bridge in place
Seller thinks: “That one closes.”
Featured guide
Pre-qualification vs pre-approval: what’s the difference?
One is a 15-minute estimate. The other is a lender’s conditional commitment with your rate held. Sellers know the difference, and it changes how strong your offer looks.
Why deals fall apart
- 13.6%of pending home sales fell apart before closing in a large Redfin study: about 1 in 7 deals.
- 27.8%of cancelled deals involved the buyer's financing falling through.
- 21%of cancelled deals happened because the buyer's own home didn't sell.
- 7.1%of winning offers were subject to the sale of the buyer's home.
Figures from Redfin research on why home sales fall apart. Financing and unsold homes are two of the biggest reasons deals collapse. See the full story →
What “subject to sale” really costs you
In B.C., an offer “subject to the sale of the buyer's property” tells the seller their future depends on a house they have never seen. Sellers and their agents respond predictably:
- They counter higher, or refuse to come down on price.
- They keep the home on the market and add a time clause, so you can be bumped with only a day or two of notice.
- They take a cleaner offer, even a slightly lower one, when it arrives.
- You lose leverage on repairs, dates and inclusions because you are the risky buyer.
Quick gut check
On a $750,000 home, every 1% of price you give up to get a conditional offer accepted is $7,500. Add a few months of carrying two homes and the true cost of “figuring out the money later” climbs fast.
The five-step path to a confident offer
Talk to a mortgage professional (15 minutes)
A quick pre-qualification conversation with a broker or your bank gives you a realistic price range, what the stress test means for you, and which documents to gather. No credit check yet.
Get a real pre-approval
Your broker or bank reviews your income, credit and down payment and has a lender to issue a pre-approval, usually with a rate hold of 90 to 120 days depending on the lender.
Decide what happens to your current home
Sell first, list at the same time, or buy first with bridge financing. Sean helps you map out the timing and the sale side, and your mortgage professional confirms the numbers, before you fall in love with a house.
Shop inside your number
Sean builds your MLS® alerts around your approved budget, so every home you see is one you can actually buy.
Write a clean, confident offer
With financing already vetted and your sale sorted, your offer can be shorter on subjects and stronger on terms. Sellers notice.
Ready to talk to a mortgage professional?
This site doesn't arrange mortgages. If you'd like a recommendation, Sean often introduces clients to Peter Solymosi of Dominion Lending Centres White House Mortgages in Vernon; as a broker he can compare banks, credit unions and alternative lenders for you, which matters if you are self-employed, new to Canada, rebuilding credit or buying a second home.
- Pre-qualify in 15 minutes: no documents, no credit check
- Full pre-approval: rate hold of up to 120 days with most lenders
- Already have a bank or broker? Take the checklist and planner on the pre-approval page to them.
Book a time that suits you
Pick a day and time and Sean will confirm by text or email, and connect you with a broker if you'd like.
Prefer to talk now? Sean: 778-363-0542
Calculators that tell you the truth
- Mortgage paymentCanadian semi-annual compounding, CMHC premium included
- How much can I afford?Uses the federal stress test and GDS/TDS limits
- Minimum down payment5% / 10% / 20% tiers and the $1.5M insured cap
- Closing costsB.C. Property Transfer Tax and first-time buyer exemption
- Bridge financingWhat it costs to buy before you sell
- Cost of subject to salePrice give-up plus carrying costs
Already own a home and behind on payments?
Life happens. If you have missed a mortgage payment or you are worried about the next one, the worst thing you can do is wait. Deferral options, restructuring, a refinance, or a planned sale on your terms are all easier before arrears pile up.
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Common questions
Is a pre-approval a guarantee I will get a mortgage?
No. A pre-approval is a lender's conditional review of your income, credit and down payment, usually with a rate hold. The final approval also depends on the property itself (appraisal, condition, strata documents) and on your situation staying the same until closing. It is still far stronger than an estimate, because the hard questions are answered before you write an offer.
What is the difference between pre-qualification and pre-approval?
Pre-qualification is a quick estimate based on what you tell a broker, with no documents and no credit check. Pre-approval means a lender has pulled your credit and reviewed documents, and usually holds a rate for 90 to 120 days. Use pre-qualification to set your search range and pre-approval before you write offers.
Why do sellers dislike offers subject to the sale of the buyer's home?
Because the seller's move now depends on a second property they do not control. They may keep marketing, ask for a higher price or shorter deadlines, or accept a cleaner offer instead. Arranging financing first and deciding how you will handle your current home lets you avoid or shorten that condition.
Does getting pre-approved hurt my credit score?
A pre-approval normally involves one credit inquiry, which has a small, temporary effect. Shopping with a broker means one application can be shown to several lenders, instead of you applying at many banks yourself.
How long does a pre-approval last in Canada?
Rate holds commonly run 90 to 120 days depending on the lender. Use the rate-hold planner on the pre-approval page to put your expiry and renewal dates in your calendar.