In the realm of real estate transactions in British Columbia, navigating the intricacies of contracts is a crucial part of the process so guidance of a strong professional REALTOR is very critical to avoid time and/or money loss. Three common terms that are often being mentioned in the contract of purchase and sale (CPS), plus play a pivotal role, are Conditions, Contingencies and Terms. Each one of these serves a distinct purpose and can significantly impact the outcome of a real estate deal. In this article, we will compare and contrast Conditions, Contingencies and Terms to shed light on their differences and how they function within the context of real estate contracts in British Columbia.
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