Flowers Team Real Estate's video: What is an Escape Clause Milton Ontario Canada

Should I go look at a house that has sold conditionally with his escape clause?  What this means is the house has accepted a conditional offer, typically with a condition that says the buyer has the opportunity to sell their house, however the seller can continue to offer this house for sale.   If the seller receives an acceptable offer, the first buyer has the opportunity to firm up, if not the second offer is in place.  If you decide to go and look at a property that has been sold conditionally with an escape clause, know that if you’re going to purchase it, your offer will need to be strong. Strong enough to bump out someone else.   If the initial buyer has not sold their house yet, it is possible that they will not feel comfortable to remove their condition and buy the house.  Leaving the seller with the opportunity to firm up on the offer you just placed, and now you just bumped another offer and bought yourself a house.