We are often asked about managing offers that are subject to the sale of the buyer's current home.

It’s a relatively common scenario but subject-to-sale offers can be complex.

However, with the right approach, they can lead to successful transactions for both parties.

Here are some tips to consider when faced with a subject-to-sale offer:

Evaluate the buyer's situation
Understand the buyer's current property status, their listing price, and the local market conditions. This information will help you assess the likelihood of their home selling quickly.

Set a time limit
Agree on a subject to sale period with the buyer, typically between 30 to 60 days. This ensures the process doesn't drag on indefinitely, and you can move forward if their home doesn't sell within the agreed-upon timeframe.

Consider a ‘let-out’ clause
A let-out clause allows you to continue marketing your property and accept other offers. If a better offer comes along, the subject-to-sale buyer will have a set time (usually 48 hours) to finalise their sale or risk losing the deal.

Stay in communication
Speak regularly with your agent to make sure you stay informed about the progress of the buyer’s home sale. This will help you manage expectations and make informed decisions.

Consult with your Sales Partner
Work closely with your TOOP+TOOP Sales Partner to navigate the complexities of subject-to-sale offers and make the best decision for your unique situation.

Remember, each transaction is different, and a flexible approach can help turn a subject-to-sale offer into a successful sale.

If you have any questions, feel free to reach out to our team on 8362 8888.