http://kyegrace.com If you are selling your Vancouver home you may receive an offer from home buyers which contains a 'subject to sale' clause in the contract. A 'subject to sale' clause usually states the buyers have a set period of time to sell a specific property (usually their current home) in order to be obligated to follow through on the purchase of your home. There are a couple ways a seller can respond to such an offer to purchase their Vancouver home for sale. The first is to reject the offer. If you are confident you are going to receive the price you desire in due time than it is likely in your best interest to not have an accepted offer with a long subject removal time frame in place. You will want to continue to market and show your home to potential home buyers despite this accepted offer, yet some buyers may be less inclined to view your property with an accepted offer in place. Of course even if you reject the offer, if these home buyers attempt to and are able to sell their home quickly and your homes is still available they can return with an offer without the 'subject to sale' clause. The second option is to accept the offer and include a time clause in the contract. The time clause allows you to provide written notice upon accepting a second offer that the buyers have a set time, specified in the clause, to remove or waive all their subjects and commit to the purchase of your home. If the original buyers remove or waive their subjects they will be obligating themselves to purchase your home for sale on that date specified in their offer. It is important to understand that it doesn't matter if you think the second offer is 'better', the original buyer's offer remains in place if they remove or waive their subjects. If the original buyers are unable or choose not to remove their subjects within the time frame specified, the original offer is no longer in play and the second offer is now active.
