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September 2022: Toronto Stabilizes, Niagara drops

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Buying: The Cost of the Sale of Property Condition

Sell first or buy first?  Many people, when looking at buying and selling, feel very hesitant to sell before they buy, and prefer to find their "perfect" house and make an offer with a Sale of Property condition [A Sale of Property condition states that, if a Buyer's house does not sell within a specified timeframe, their offer is nullified]. However, what many Buyers do not understand is that there is a cost to every condition that they layer into an offer.  I like to term this as the Cost of Conditions.  The Cost of Conditions is best explained by example. Lets say YOU have your house for sale for $900,000 (you are the Seller).  After a few weeks on the market, you receive 2 offers: a cash offer (NO conditions) for $875,000 , or an offer with a Sale of Property condition for $910,000 ... and the buyer's house is not even for sale yet (believe it or not, this is typical).   If you take the cash offer, you are SOLD, done, and can immediately move on with...
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