In 2025, Manitoba's housing market remains competitive, with bidding wars becoming increasingly common — especially in high-demand areas like Winnipeg, Brandon, and Steinbach. If you're in the market to buy a home, you may be tempted — or even encouraged — to write a “clean” offer with no conditions in order to beat out other buyers.

But before you take that risk, it’s essential to understand the potential consequences of submitting an unconditional offer to purchase, especially if you're relying on mortgage financing to buy your home.

What Is an Unconditional Offer to Purchase?

An unconditional offer is a legally binding contract to purchase a property without including any clauses to protect the buyer — such as a financing condition or home inspection condition. Once the seller accepts, you’re locked into the purchase regardless of whether your mortgage is approved or if issues arise during the appraisal or inspection process.

Why Financing Conditions Matter (Even in a Hot Market)

In a typical offer, a clause might read:

“This offer is conditional upon the buyer obtaining satisfactory mortgage financing by [date/time], failing which this offer becomes null and void and the buyer’s deposit shall be returned in full.”

This clause protects your deposit and your legal standing. Once all conditions are met, your Realtor will have you sign a waiver form, officially making the sale firm.

But if you skip this step and make an offer without a financing condition, you're taking on serious risk.

What Can Go Wrong Without a Financing Clause?

Even if you’ve been pre-approved for a mortgage, that doesn’t mean your financing is guaranteed. A pre-approval is based on your personal financial situation — income, credit score, down payment, etc. — but lenders and insurers (like CMHC, Sagen, or Canada Guaranty) must also approve the property itself.

Here are some common problems:

1. The Appraisal Falls Short

Let’s say you offer $350,000 in a bidding war, but CMHC or the appraiser values the home at only $335,000. If you're putting 5% down, your lender will only finance 95% of $335,000, not your $350,000 offer. That leaves you responsible for the $15,000 shortfall — on top of your original down payment and closing costs.

If you don’t have the extra funds, you may be unable to close — and because the offer was unconditional, you could lose your deposit and face legal action for breach of contract.

2. The Property Is Uninsurable

If a home has structural issues — like foundation problems or knob-and-tube wiring — the mortgage insurer may decline the property altogether. That means no mortgage financing will be approved, and you’re still obligated to purchase the home or face serious legal and financial consequences.

A Better Strategy for Homebuyers in Manitoba

At One Link Mortgage & Financial, our team of award-winning Mortgage Professionals works closely with you to ensure you're fully prepared before you make an offer. We:

• Pull your credit report
• Verify your income and down payment
• Provide accurate affordability guidelines
• Secure a strong mortgage pre-approval (subject to property review and appraisal)

We coordinate with your experienced Realtor to structure your offer competitively — while still protecting you with essential conditions like financing and inspection.

In many cases, we can complete the financing condition within just a few business days, so your offer remains strong and appealing to sellers, even in a competitive market.

Final Thoughts: Don’t Risk It All for a Quick Win

The dream of owning a home in Manitoba is achievable — but don’t let the pressure of a bidding war force you into a risky unconditional offer.

If you require mortgage financing (as most buyers do), always include a financing condition in your offer. It’s a smart move that protects your investment, your deposit, and your peace of mind.

Looking for Trusted Mortgage Advice in Manitoba?

Connect with the team at One Link Mortgage & Financial today. We’ll help you navigate the 2025 housing market with confidence — and ensure you’re making the right moves when it matters most.

Call or email us to book your free consultation — and let’s make your homeownership dreams a reality, the smart way.