What Happens After I Sign a Purchase Agreement with a New Home Builder?
by Reid Boles, Realtor | June 27, 2025Here in Manitoba, most builder contracts will include at least two key conditions: financing approval and lawyer review. Depending on the builder—and whether you're building inside or outside the city, there may be additional rules or conditions to meet. Infill lots, for example, might have zoning considerations. But for now, let’s focus on the two conditions that almost always need to be addressed: financing and legal approval.
Financing: This one’s pretty straightforward. In most cases, what's required at this stage isn’t full mortgage approval, it’s a pre-approval. This pre-approval is for the mortgage you’ll be formally applying for closer to possession, usually around 45–60 days before your firm possession date.
Lawyer Approval: This condition is in place to protect the buyer. Its main purpose is to ensure you fully understand the clauses in the contract and to clarify anything that might need further discussion or adjustment. This process happens strictly at the legal level, between your lawyer and the builder’s lawyer. Salespeople (Realtors) are not involved in this part at all.
Once the satisfaction of conditions form is signed and the final deposit is paid, the fun part begins! From here, the buyers are officially in the hands of the builder. The next step is one of the most exciting, choosing the colours, finishes, and style selections that will make the house your home.
Once the design selections are complete, the next step is typically a walkthrough, usually during the electrical stage of construction. This is your opportunity to plan for practical details, like where you might want to hang your future TVs. You can decide on outlet placement, add ethernet ports, and make sure everything is wired just right. That way, when move-in day comes, all you’ll need to do is attach a bracket and hang the TV.
One more walkthrough takes place just before possession, this time with the builder’s representative. During this inspection, any deficiencies or issues will be identified and fixed before you receive the keys to your new home.
Now it’s time to move in and enjoy your new home! If you have any questions or need clarification along the way, feel free to give me a call.