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additional language stating ‘at any time,’ or ‘upon receipt of another acceptable offer for the property,’ the seller may
deliver written notice to the buyer requiring them to waive or satisfy their ‘Subject to Sale’ within a certain period
of time or else the contract is terminated. This, McCullough says, allows sellers to accept an offer with a ‘Subject to
Sale’ clause in good faith the buyer will market and sell their home as quickly as possible, but still allows them an
opportunity to consider another offer if it comes through and the first buyer is not prepared to waive their existing
subjects.
Lifestyle

Buyers who want to find their next perfect property and are less concerned about the sale price of their existing home
might choose to buy first. Sellers, on the other hand, who prioritize getting the most for their current property and/
or have the ability to rent or live with friends or family for a period of time between houses might choose to sell first.

“Lifestyle can come into play here because homeowners who have the funds to cover two mortgages can
simultaneously run the risk of holding onto two properties for a period of time, should their current home not sell
quickly. Young families or families with school-aged children might be less likely to run the risk of ending up with zero
houses for a period of time and having to relocate in between,” said McCullough.

How can a REALTOR® help you make the decision?

“It’s important to remember ‘the market’ you should be focusing on is hyper-local, meaning your REALTOR® should be
well-versed in the community you’ll be doing your deal in, and able to speak to its past and current conditions. Your
REALTOR® can also help by connecting you with other professionals to ensure the process of buying and selling, no
matter the order, runs smoothly,” said McCullough.
During this process, McCullough says good communication skills and problem-solving skills are key when lining up
the dates on two separate transactions to ensure the new property is funded and the current property is handed off
to its new owners in good timing.
This includes communication between the multiple REALTORS® involved, as well as mortgage lenders/brokers,
lawyers/notaries, conveyancers, and more. ■

6 | REAL ESTATE NOW | LB@LoraleeBurns.com