Conditional vs Firm Offers in Burnaby: Which Subjects to Keep in 2026

I still remember the offers I wrote in early 2022. Subject-free, every one. Buyers waiving financing conditions, skipping the inspection, signing on a strata unit without reading a single document, all so the seller would pick their offer out of a pile of fourteen.

That was a specific market with specific rules. Those rules do not apply in Burnaby in 2026, and buyers who behave as if they do are giving up protection they don't need to give up.

Here's the current reality. Burnaby has about 2,010 active listings, an absorption rate of 6.8%, and homes are taking 40 days on average to sell (MLS® board records, July 2026). That is a buyer's market by any reasonable measure. You have choice, you have time, and you have room to include the conditions that protect you.

This post walks through which subjects to keep, which to shorten, and when a firm offer still makes sense.

What a "Subject" Actually Does

In BC, a "subject" (also called a condition) is a clause in your offer that must be satisfied before the deal becomes binding. You write the offer, the seller accepts it, and then you get a set number of days to confirm each condition. If a condition isn't met and you can't remove it in good faith, the deal collapses and your deposit comes back.

A firm offer, or subject-free offer, has no conditions. The moment the seller accepts, you are legally committed to buy. If your financing falls through or the inspection would have found a $40,000 problem, that's your problem now.

In a bidding war, sellers prefer firm offers because they carry no risk of falling apart. That's why buyers waived conditions in 2021 and 2022. But when there's no bidding war, a firm offer buys you nothing except exposure.

The Subjects Worth Keeping

Subject to Financing

This is the one I never let a buyer waive unless they are paying all cash. A pre-approval is not a mortgage commitment. The lender still has to approve the specific property, order an appraisal, and confirm your file hasn't changed.

In a market where prices have drifted down about 4.1% versus the prior 90-day average (MLS® board records, July 2026), appraisals matter more, not less. If a home appraises below the price you agreed to, your lender funds a percentage of the lower number, and you have to cover the gap in cash. A financing condition gives you the days to catch that before you're locked in.

A typical financing subject runs 5 to 7 business days. Keep it.

Subject to Inspection

A home inspection costs a few hundred dollars and can find problems that cost tens of thousands. Older Burnaby homes in Edmonds, The Heights, and parts of South Burnaby carry the usual suspects: aging roofs, knob-and-tube wiring, perimeter drainage, and the occasional oil tank buried in the yard.

I've walked buyers away from homes over inspection findings, and I've used findings to renegotiate price on homes worth buying. Neither is possible without the condition. Keep it. Five business days is standard; a week if the inspector is booked.

My guide to what a Burnaby home inspection should catch covers the specific items to flag.

Subject to Strata Document Review

If you're buying a condo or townhouse, this is non-negotiable. The strata documents tell you whether the building is financially healthy or a slow-moving problem. You want the depreciation report, the contingency reserve fund balance, the last two years of meeting minutes, and the Form B, which lists any current or pending special levies.

A cheap-looking condo with an underfunded reserve and a history of special levies is not cheap. It's a liability with a mortgage attached. The strata depreciation report guide explains what to read and what the warning signs look like.

Give yourself 5 to 7 business days for strata review, longer if the seller is slow to produce documents.

The Subjects You Can Shorten, Not Skip

Subject to title search. Your lawyer or notary confirms the title is clean, with no surprise liens or easements. This is quick, usually folded into the financing timeline. You can keep it short, but don't drop it.

Subject to insurance. You confirm you can actually insure the property at a reasonable cost before you commit. This matters most for older buildings and for any home with a history of water or fire claims. A short condition here is cheap insurance, literally.

When a Firm Offer Still Makes Sense

I'm not against firm offers on principle. There are situations where they're the right call:

• You're paying all cash and have done your own due diligence before writing. No financing condition needed, and you can inspect before you offer.
• You've already reviewed the strata documents and had a pre-inspection done before writing, effectively front-loading the conditions.
• The property is genuinely contested. Even in a buyer's market, a well-priced home in a top school catchment or a rare Deer Lake listing can draw multiple offers. If you're competing, a clean offer can win, but only after you've done the homework a condition would normally cover.

The point is this: waive a condition because you've replaced it with equivalent protection, never because you feel pressured to. In 2026, that pressure is mostly imaginary.

How a Conditional Offer Still Competes

Buyers worry that keeping conditions makes their offer weak. In this market, it usually doesn't. Here's how to keep a conditional offer strong:

• Keep the subject periods tight. A 5-day financing condition reads very differently than a 14-day one. Tight, realistic timelines signal you're serious.
• Bring a real deposit. A healthy deposit shows commitment even with conditions attached.
• Have your team ready. Mortgage broker, inspector, and lawyer lined up before you write means you can remove conditions fast. That speed reassures the seller.
• Price it right. A fair-market offer with reasonable conditions beats a lowball firm offer almost every time.

A seller looking at a 40-day average days on market and 2,010 competing listings is not in a position to reject a fair offer over a 7-day inspection period. And if they do, that listing is usually still there three weeks later.

Key Takeaways

• In Burnaby's 2026 buyer's market (2,010 active listings, 6.8% absorption, 40-day average DOM), buyers do not need to waive conditions to win.
• Keep three subjects on almost every offer: financing, inspection, and strata document review (for condos and townhomes).
• Shorten but don't skip title and insurance conditions.
• A firm offer only makes sense when you've replaced each condition with equivalent due diligence done before writing.
• A conditional offer stays competitive through tight subject periods, a solid deposit, a ready team, and fair pricing.

Frequently Asked Questions

Should I waive conditions to buy a home in Burnaby in 2026?

In most cases, no. Burnaby is in a buyer's market with about 2,010 active listings and a 40-day average time on market (July 2026). Sellers are not fielding bidding wars on most properties, so you can keep your financing, inspection, and strata conditions and still write a competitive offer.

How long should a subject removal period be?

A typical financing condition runs 5 to 7 business days, an inspection condition about 5 business days, and a strata document review 5 to 7 business days. Keep them tight and realistic. Shorter, deliverable timelines signal you're a serious buyer without exposing you to risk.

Is a firm offer ever a good idea in a buyer's market?

Yes, but only when you've replaced each condition with equivalent due diligence: paying cash, pre-reviewing strata documents, or arranging a pre-inspection before writing. Waive a condition because you've covered that risk another way, never because you feel pressured.

What is the difference between a conditional and a firm offer?

A conditional offer includes subjects (financing, inspection, strata review) that must be satisfied within set days before the deal becomes binding. A firm offer has no conditions, so it binds you the moment the seller accepts. Firm offers carry more risk for the buyer and are mainly used to win competitive situations.

Sources

• MLS® board records, July 2026 (Burnaby active listings, absorption rate, average days on market, price trend)
• Greater Vancouver Realtors, June 2026 MLS® HPI

Related Guides

• What a Burnaby Home Inspection Should Catch
• Burnaby Strata Depreciation Report Guide
• The Risk of Subject-Free Offers in Burnaby
• First-Time Buyer Guide, Burnaby

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If you're writing an offer in Burnaby this summer and you're not sure which conditions to keep, that's exactly the conversation I have with buyers every week. I'll help you structure an offer that protects you and still competes. Reach out directly or book a valuation if you're selling first. Jersey Li, PREC, Sutton Group - 1st West Realty