What are the risks of having a financing condition when buying a house?

BY SCOTT MOORE, REALTOR | August 1, 2025

In 2017, I wrote a blog post about the potential risks a financing condition can pose on your offer, especially in a multiple offer situation. That blog post remains relevant today as we continue to see multiple offers on homes and sale prices well above the listing price.

Getting pre-approved through a mortgage broker or bank can save you both time and money. It’s also important to note that 5-minute online calculators don’t count as pre-approvals. You’ll need to meet with a real person who will review your finances to give you a proper approval.

Here’s a video from 2017 where I discuss financing conditions.

If your financing is already arranged, your offer is stronger than comparable ones. Sellers are drawn to offers with favourable terms, which can increase your chances of securing the home you want.

But having your financing in place doesn’t just make your offer more attractive, it can also save you money in a competitive situation. Sellers often prefer the most favourable (or secure) offer, even if it’s not the highest. That means you could get the home you want without being the top bidder.

This is especially true today, as many homes receive multiple offers — and the highest offer isn’t always the best one for the seller. Sometimes, the offer with the fewest conditions provides the most security and peace of mind.

This can be confusing, I get that. This is a lot to take in. The good news is that we help people successfully buy homes across Winnipeg, we know the market, and we know how to put you in the best position to get your dream home.

Ready to find a great home at the right price? Call me today — I’m here to help.