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.


No comments

Post Your Comment:

Your email will not be published
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.