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Conditionally Sold in Calgary-What does it Mean for the Buyer?
Ok...back up....What exactly am I talking about is this just more REALTOR® and industry jargin? If you are a buyer or a seller, than no. If you have never bought and sold a home before...than maybe!
Conditionally sold refers to your home being taken off the market once you have accepted an offer from a buyer. There are typically conditions that the buyer has to meet that are written into the offer, with a time limit set of somewhere between 7-14 days.
Prior to the notice we, as a memebership received yesterday, your home would be pulled from the market and Realtor.ca.
Your home is Conditionally Sold. It is up to the Professional REALTOR representing the buyer to make sure their buyer is qualified to purchase the home. It is up to the seller to make sure the home is in tip/top shape so that nothing unusual comes out in a home inspection that would make the buyer walk away.
Ok...What is Different Now?
What is different now that the Calgary Real Estate Board of Directors has changed the rules? Well...watch the quick video below for a brief explanation and of course, as always my opinion!