Clauses To Include When Accepting A Subect To Sale Real Estate Offer
As a Vancouver home seller who is accepting an offer with a subject to sale clause there are two clauses you are going to want in the real estate contract.
The first is a clause stating that the property must be listed with a Realtor on the MLS within a specific time frame if not already listed. I would suggest that 48-72 hours is more than adequate. I would also specify that it must be availabe to the public by a specific time frame as well. 4 - 7 days is also more than adequate.
The second is a time clause. This clause allows you, upon receipt of a second accepted offer, to provide written notice to the original buyers that they have a set period of time to remove or waive the subjects in their offer. Usually this time frame is 72 hours.
If they are not able to remove their subjects the second offer now becomes active.
This allows you to continue to market your home for sale and receive offers, as it is no guarantee that the original buyer's home will sell.