Special offer

Conditional on Sale of Buyer's Home - An Offer's Death Knell?

By
Real Estate Sales Representative with iPro Realty Ltd., Brokerage

It's understandable that a Buyer wants the peace of mind that comes with having an SBH condition on an offer.  But in a hot market, with multiple offers being presented on a property, an SBH condition is almost certainly a deal breaker.  But Buyers are taking their chances, sometimes against the advice of their agent.

Consider the Seller's POV ... are they not similarly entitled to some peace of mind?  Should their property be off the market for 30 days (or however long the condition specifies), with the risk that the deal falls through, the listing goes stale, and nothing to show (given that the deposit would be returned to the Buyer)?  Should the Buyer be surprised if the Listing agent counters with an escape clause?