New Markets Bring New Strategies

With a change in the market you may hear some terms you haven't heard before.  There was no reason to use them in a Sellers' Market.  Today, there's a better chance that Buyers can find what they want to buy but....they don't know if they can sell their home.  

What to do???  "Subject to sale of Buyer's home" is a term that we're starting to see.  There are a couple of clauses that would be used in the contract to protect both Buyer & Seller.  It's not open ended & it's specific.  Clauses would include information like the address of the home, list price, length of time allowed for a sale, a shotgun clause for the Seller should another offer come in, etc.  Your experienced realtor can explain in more detail.  I expect to see this used more often as both Buyers & Sellers try to navigate a changing market.

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