Mortgagenomics Canada

In Vancouver, purchasing a property these days has become somewhat comparable to a Black Friday event.  A property gets listed, an offer date is set, several buyers line up to view the property (actually some don’t even bother to view as they go straight to the offer stage), and finally offers are placed.  This is where things get diceyIn normal times, upon submitting an offer a buyer negotiates conditions and a period of time to satisfy the conditions (i.e. mortgage financing, review of property disclosure statement, home inspection, strata/condo documents, appraisal, etc.).  Not these days though.  Buyers are instead submitting offers with very limited conditions, and in a growing number of instances, none at all!  Hence the term, “subject free offer”.Does a pre-approval mean that you can go subject free?My short answer to this question is NO.  The term pre-approval is a loosely used term in the mortgage industry and the validity of one varies significantly from broker to