Offer Accepted? Here’s What Every Halifax Buyer Should Know Next
If you’re wondering what happens after an offer is accepted, the short answer is: deadlines start immediately.
In most Halifax and HRM real estate transactions, buyers have 24 to 48 hours to deliver their deposit to the listing brokerage’s trust account.
From there, the conditional period begins, typically around 5 to 7 business days in the Spring 2026 Halifax market, giving buyers time to complete a home inspection, confirm mortgage financing, review documents, and satisfy any conditions included in the Agreement of Purchase and Sale.
Before the conditional deadline expires, buyers must submit Form 408: Buyer Waiver of Conditions in writing. If that form is not signed and delivered before the deadline, the Agreement of Purchase and Sale automatically terminates. There is no grace period.
By Richard Payne | June 14, 2026
That phone call from your REALTOR®- the one where they say, “Congratulations… your offer was accepted”- is one of the best moments in the home-buying process.
And then reality kicks in.
Because once your offer is accepted in Halifax, the most important stage of the transaction begins.
Deadlines matter. Conditions matter. And there’s one document most buyers have never heard of that determines whether the deal actually goes firm.
Here’s exactly what happens after an offer is accepted in Halifax, step by step, including deposits, conditions, inspections, financing, and when the deal officially goes firm.
Your Deposit is Due in 24 to 48 Hours
One of the first things that happens after an offer is accepted in Halifax is the delivery of the deposit.
In Nova Scotia, your Agreement of Purchase and Sale typically requires you to deliver your deposit to the listing real estate brokerage within 24 to 48 hours of acceptance.
The deposit is held in the brokerage’s trust account until closing day. It’s not going to the seller, it’s sitting in trust until the transaction completes.
How much?
Deposit amounts are negotiated as part of the offer, but most buyers in HRM put down somewhere between 1% and 5% of the purchase price. On a $650,000 home, that’s roughly $6,500 to $32,500.
The most important thing to know: your deposit is protected during the conditional period. If your conditions aren’t satisfied and the deal falls through before you’ve waived them, your deposit is returned to you in full.
The Conditional Period: What it is and What You Need to Do
After the deposit is delivered, your conditional period begins. This is the window you have to investigate the property and confirm you’re happy to proceed.
In HRM’s spring 2026 market, most accepted offers include at least two conditions: a financing condition and a home inspection condition.
Each typically runs five to seven business days. If you’ve included other conditions – lawyer’s approval, insurance confirmation, or a well and septic inspection for a rural property – those run concurrently.
Your job during the conditional period:
– Book your home inspection immediately. Qualified inspectors in HRM book up quickly, especially in spring. Don’t wait until day four of a seven-day conditional period to call. Schedule it for day one or two.
– Confirm your financing with your lender. Even with mortgage pre-approval, your lender still needs to appraise the property, verify your current income, and run a final credit check before issuing a formal mortgage commitment. Give them the accepted offer right away.
– Review the Property Disclosure Statement (PDS). The PDS is the standard seller disclosure document in Nova Scotia. Your agent will have received this from the listing agent – read it carefully and flag anything worth asking about.
– Arrange your insurance. Many buyers forget that lenders require proof of property insurance before they’ll advance funds. Your conditional period is a good time to get a quote and lock in coverage.
For many buyers, this is the stage where they truly understand what happens after an offer is accepted in Halifax, because timelines become very real very quickly.
Form 408: The Most Important Form You’ve Never Heard Of
This is where buyers get into trouble, so pay close attention.
To complete the conditional period and keep your deal alive, you must submit Form 408: Buyer Waiver of Conditions before your deadline expires.
Form 408 is a Nova Scotia Real Estate Commission (NSREC) mandatory form.
It’s the written notice you send to the seller saying: “I’ve satisfied my conditions, I’m proceeding with the purchase.” Without it, there is no deal,even if you’re completely happy with the inspection and your mortgage is approved.
The critical rule: if Form 408 is not delivered before the condition deadline, your Agreement of Purchase and Sale terminates automatically.
There is no grace period. There is no “we meant to send it.” The deal is dead.
Your agent will handle the actual submission of Form 408, that’s their job. But understanding what it represents helps you appreciate why your agent follows up urgently as the deadline approaches.
If your conditions aren’t satisfied, say the inspection turns up something serious, or your lender can’t confirm financing, your agent submits Form 411 instead, notifying the seller that the conditions were not met and you’re exercising your right to terminate. Your deposit comes back, and both parties go their separate ways.
After You Waive: The Deal is Firm
Once you submit Form 408 and the seller’s agent receives it, your offer goes firm. The home is yours – in about four to six weeks.
This is when your real estate lawyer takes over.
Closings in Nova Scotia are handled by a lawyer, not a title company or escrow officer. They’ll review the title, prepare your mortgage documents, produce a Statement of Adjustments showing the financial breakdown at closing, and coordinate with the seller’s lawyer to set the date.
You’ll meet with your lawyer roughly one to two business days before your closing date, or sometimes the morning of closing, to sign everything.
Set aside 30 to 60 minutes. Lots of paper.
A few things to sort out in the post-waiver period:
– Book your movers. Moving companies in Halifax fill up fast in spring and summer. Lock in your date early.
– Do a final walkthrough. You’re entitled to view the property again before closing to confirm it’s in the condition you agreed to purchase it in.
– Transfer your closing funds. Your lawyer will provide wiring instructions for the balance owing at closing, your down payment minus the deposit already in trust, plus any adjustments.
Closing Day in Halifax
On closing day, funds move electronically between law firms. Your deed gets registered at the Land Registry Office. All of this typically happens the same day.
Technically, closing can happen any time before 5 PM.
For this reason, I advise clients to plan their physical move for the day after closing. The occasional minor delay can push possession to late afternoon. Better to have movers booked for the next morning than to be standing in a parking lot at 4 PM waiting on a phone call.
Once the funds are received and the deed is registered, your agent picks up or receives the keys. That’s the moment you own the home.
What Happens if Your Conditions Aren’t Met
If your inspection reveals a material defect, your lender declines to advance the mortgage, or any other condition simply can’t be satisfied, you’re not stuck.
Your agent submits Form 411 before the deadline, the Agreement of Purchase and Sale terminates, and your deposit is returned to you in full. The listing brokerage holds those funds in trust until both parties agree in writing on how to release them, typically done using Form 440: Termination of Agreement of Purchase and Sale and Release of Deposit.
One important note: if you waive your conditions -submit Form 408- and then decide you no longer want to proceed, you’ve forfeited your protection.
Walking away after the deal goes firm exposes you to the loss of your deposit and potentially a larger claim from the seller. Don’t waive until you’re genuinely ready to commit.
The post-acceptance window is short, structured, and unforgiving of missed deadlines. The buyers who navigate it well are the ones who act immediately, book the inspection on day one, follow up with their lender the same afternoon, and stay in close contact with their agent throughout.
If you’re heading into an offer this week and want to make sure you know exactly what’s coming, I’m happy to walk you through it. Book a free 30-minute strategy call here where we’ll cover your specific situation, what conditions make sense for your offer, and what to expect after the seller signs.
Frequently Asked Questions
How long is the conditional period in Nova Scotia?
The conditional period can run anywhere from five to fifteen business days, depending on what conditions are included in your offer and what you negotiate with the seller. In HRM’s spring 2026 market, most accepted offers include a financing condition and a home inspection condition, each running five to seven business days. The timeline is set out in your Agreement of Purchase and Sale.
What is Form 408 and when do I need to submit it?
Form 408 is the Nova Scotia Real Estate Commission’s mandatory Buyer Waiver of Conditions form. It’s the written notice you submit to the seller confirming that your conditions have been satisfied and you’re proceeding with the purchase. It must be delivered before your condition deadline, if it’s late by even one day, the Agreement of Purchase and Sale terminates automatically. Your agent handles the submission, but you need to confirm your conditions are satisfied in time for them to do so.
Can I get my deposit back if my conditions aren’t met in Nova Scotia?
Yes. If a legitimate condition – financing denial, a failed inspection, an unsatisfied insurance requirement – prevents you from proceeding, your deposit is returned to you in full. Your agent submits Form 411 before the deadline to notify the seller, and both parties sign a written release (Form 440) to release the funds from trust. If you walk away after the deal goes firm, the situation is more complex and you could lose your deposit.
How long does it take to close after my offer is accepted in Halifax?
From the accepted offer to closing day, the full process typically runs four to six weeks. That includes the conditional period, the post-waiver period where your lawyer prepares documents and title, and the closing date itself. The closing date is negotiated in your offer, so buyers and sellers agree on a timeline that works for both parties.
What does a real estate lawyer do on closing day in Nova Scotia?
Your real estate lawyer handles the entire closing in Nova Scotia, since closings here are conducted by lawyers rather than title companies or escrow officers. On closing day, they transfer the funds electronically to the seller’s lawyer, register your deed at the Land Registry Office, and coordinate the release of keys. You’ll sign all your mortgage and transfer documents at your lawyer’s office one to two business days before, or the morning of, the closing date. The signing appointment typically takes 30 to 60 minutes.
Understanding what happens after an offer is accepted in Halifax can make the entire buying process feel far less stressful and help you avoid missing critical deadlines. If you’re buying a home in Halifax and want guidance through the conditional period, inspections, financing, or negotiations, feel free to reach out anytime. I’m here to help guide you through every step of the process.
About Richard Payne
Richard Payne is a REALTOR® with eXp Realty of Canada, bringing 14 years of strategic Halifax real estate expertise and $165M+ in volume across 339 closed transactions. He specializes in helping families and professionals relocate to Fall River, Bedford, and Hammonds Plains, and works with move-up and move-down buyers across HRM.
Connect with Richard at richardpayne.ca | (902) 489-1804 | [email protected]
EN
FR