Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

What is a sale condition and will sellers accept it?

Saskatchewan contracts use conditions rather than the term asked about here, and the closest equivalent tied to an existing home is a condition of sale, letting a buyer offer subject to selling their current property first. With 1.63 months of supply per the Saskatchewan REALTORS Association, sellers have more leverage to resist that condition than in a slower market.

A condition of sale is weaker than a firm offer from a buyer's perspective, because it lets the seller keep marketing the home and accept a better offer if one arrives, typically under a right-to-bump-out clause that gives the conditional buyer a short window to remove their condition or lose the deal.

Whether a seller accepts one depends on how tight supply is and how strong the rest of the offer looks. In a market this tight, a seller with multiple interested buyers has little reason to accept a conditional offer over a firm one at a similar price.

A buyer relying on this condition should expect to compete against firm offers and should be ready to move quickly if a bump-out notice arrives.

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