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Canadian Real Estate/selling mine to buy another

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Question
I have found a property that I like and have to sell mine to be able to buy it..  I was told that if I put in an offer with that condition and it is accepted the house I want will come off the market so no-one else can put in an offer on it. Is this true?  I live on Prince Edward Island Canada  Thank-you for your response Carl

Answer
Hello Carl,
Thank you for your question - my apologies for the delay in responding to you, I have been away for a few days.

To answer your question regarding whether the house will come off the market - it depends on how the conditional upon sale clause is written. Typically an offer that is conditional upon the sale of another home does include a clause that allows the seller to continue to offer their property for sale with the first offer having the right to firm up or withdraw within 24-48 hours.

Regards,
Penny

Canadian Real Estate

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Penny MacKenzie

Expertise

General Residential Real Estate, Real Estate Agency, Real Estate Terminology, Real Estate Marketing

Experience

Penny MacKenzie is a full time Burlington Real Estate Agent with over 15 years of experience. An active member of the Burlington Business Community Penny is Past President of The Burlington Chamber of Commerce and Past Chair of Tourism Burlington. Penny has also served on the Board of Directors of the Burlington Art Centre Foundation. Penny is also past chair and co-founder of Party In Pink an incredible women only fundraiser for Breast Cancer Support Services. In just four short years this event has raised over $250,000 in support of women who are currently undergoing treatment for breast cancer. As a full time Realtor Penny is experienced in the Burlington and Area real estate market. She has personally handled all types of real estate transactions, however, she is an Experienced Residential Realtor, qualified to help families reach their residential home buying and selling goals.

Organizations
Hamilton-Burlington Real Estate Board, Oakville-Milton Real Estate Board, Ontario Real Estate Board, Canadian Real Estate Board

Publications
www.blogburlingtonsbesthomes.com

Education/Credentials
Licensed Realtor with Keller Williams Realty the fastest growing Real Estate Company in Canada!

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