Tanya Rankin Discusses The Confusing Reality Of Needing To Sell A Home In Order To Buy A New One.
Tanya Rankin: Hi it’s Tanya Rankin in Williams Lake. Often you need to sell a home in order to buy your next home and it’s always a little bit tricky to try to figure out which you wanna do first. But most people don’t fully understand how the subject to the sale of a home works when it is use on an offer to purchase so i want to explain that in our profession it standard practice that when you make an offer subject to the saleable home, subject to financing, will test, all the other inspections the subject to the saleable homes specifically tends to run in tandem with what we refer to as a 72 hour claws and what that 72 hour claws does is it protects the seller so that should another offer come in that doesn’t have that sort of unknown or that hypothetical of another property being needing to be sold first they are able to look at and consider a cleaner offer. So if that happens when that other offer comes in what the 72 hour claws says is the seller will give written notice to the buyer or the buyers agent should another acceptable offer come in on the property requiring the first place offer so the one with the subject to the saleable home to remove all conditions within 72 hours otherwise the second place offer goes to the first place position. That’s the key that a lot of people don’t understand and it’s why its a little bit of a hypothetical until you have your home sold. If you have any questions send me an email anytime to email@example.com and I hope you have a fantastic week!