Canadian Real Estate/contract with realtor

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Question
My wife and I are looking at a specific house that should come on the market within the year. If we  could get this house we would move otherwise we would stay where we are. I would make a conditional offer on the house and put mine up for sale. If for some reason my conditional offer is accepted and then for some reason does not come about can I then take my house off the market immediately or will I have a continuing contract with the realtor for a specific time? If something happened to the sale I would like to be able to take my house off the market immediately. Is this possible? Thanks for your help.

Answer
Hi Roland,
You are the client and can instruct your Realtor with your wishes and length of your contract!
You make the Offer Conditional on the Sale of your home for 15, 30 or 60 days? Will the Seller's accept a Conditional Offer? If you accept an Offer on your home, you can firm up on the property you want to purchase. The Seller's of the Conditional Offer could still Offer their property for sale and if a firm offer comes in from another Buyer,they would give you 48 hours to either firm up or walk away from the deal and you would get your full deposit back. Your Realtor will explain everything with you and should cancel the Contract if you want out? If you're not Selling ? Your Agent will not want to hold you hostage.......
Good luck!
Derek

Canadian Real Estate

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Derek Hamilton

Expertise

Any questions relating to Residential Real Estate in the City of Toronto or Southern Ontario. How much is my home worth in todays market? What's involved in Buying Real Estate ? How much do you need for a down payment? What's involved in Buying a Condo? What's involved in Buying a Co-op? What do you need as a deposit? How to choose a good Real Estate Agent for your property? What should you do to prepare your home for the market? How much Commission should you expect to pay? What are the expenses when Buying or selling your property? Should you have your home Staged for the market? Derek Hamilton has made Toronto his home his whole life and knows better than most what the city has to offer! Use his 26 years of Award winning experience to work for you.

Experience

Residential Real Estate Sales Representative in Toronto Ont,Canada for 26 years. Award Winner for 24 straight years with Royal Lepage & Sutton Group. Prior experience was 10 years building new custom homes & Renovations in North Toronto. I have a total of 36 years experience in the Residential Real Estate field.

Organizations
I also subscribe to the Georgian Triangle Real Estate Board in Collingwood & the surrounding areas.

Education/Credentials
George Brown College "Carpentry", Continuing Education with the Toronto Real Estate Board. Member sinse 1985.

Awards and Honors
Platinum Award 2000-2008, Presidents Gold Award 2009-2010-2012, Award Of Excellence 2011 25 Year Club for the Toronto Real Estate Board.

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