Ha, Ha; You forgot to mention the "subject to viewing" clause. Now that's funny!
Better stay put?
Dari: not necessarily a story I'd be proud of?
We do Subject to Sale of homes all the time; they are good clauses if used properly and I would argue that your clause of "months" did not fulfill the intent of the contract and its verbal presentation. I'd have told you to take a walk, see ya in court if you so desire.
Quote:
Subject to the Buyer entering into an unconditional agreement to sell the Buyer's property at ___ by ___ .
This condition is for the sole benefit of the Buyer.
However, the Seller may, upon receipt of another acceptable offer at any time deliver a written notice to the Buyer or to ____ requiring the Buyer to remove all conditions from the contract within ___ hours of the delivery of the notice, not to include Sundays and Statutory Holidays. Should the Buyer fail to remove all the conditions before the expiry of the notice period, the contract will terminate.
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Although these clauses do allow a certain amount of the negotiations to be finalized, they are weak and generally not a clause that I would personally use to secure a property; you can be bumped off too easily. Now they are a good, safe method of purchasing property for the income limited buyer that doesn't want a financial risk, but the seller really does stay in control. Once a clause like this is introduced you really lose all the negotiating power as a buyer. If the seller comes back to you to firm up or terminate, you likely don't have much choice but to walk away unless you have the ability to remove subjects without the sale of your current property secured in place?
I've accepted these subject to sale clauses on my personal properties, but I only give 24 hours notice to terminate. If I receive a bona-fide offer from another source and the first offer has no way of buying my home unless they sell theirs first, I'm not messing with them and tying up my property while they fart around.
I have never bought a personal residence that I planned to "live in" after selling my own home; I always buy the home I'm moving to first, then sell my home later. But then, I've always chosen to do things the easy way and most people choose the hard way imo. Life really aint that hard if you figure out what you want and then focus on that. Stay focused, it always works out.