The words "term" and "condition" are critical items of a written offer, designed to protect the buyer and seller in a transaction. They are used as a legal English collocation. They are identical, but the two words have different meanings.
Conditions must be satisfied before the transaction becomes binding upon the two parties, the seller and the buyer. For example, due diligence allows the buyer to verify all important details before committing to purchase.
A term is used to clarify what the buyer expects to be done or included with the property. Terms are mutually agreed conditions that need to be fulfilled for a transaction to be complete. For example, the buyer agrees to pay the money, the seller agrees to give him the good or service in return.
