This is not the case.
Subject Free Offers are Powerful and Effective, but in Scary in the Wrong Hands!
With the resurgence of the Vancouver real estate market, Subject Free Offers are making a comeback along with Multiple Offer Situations. The downside is that without preparation and professional advice, mishandled Subject Free offers can quickly result in lawyers getting involved making it expensive and painful for all.
What is a Subject Free Offer?
A Subject Free Offer is an offer prepared by the Buyer that does not allow the Buyer to walk away for ANY reason if the Seller accepts.
If the Buyer cannot get a mortgage on the Continue Reading…
What is an Offer that is Subject to Financing?
This is an Offer to buy a property that is “Subject To” or conditional upon the Buyer getting a mortgage within a set period of time, usually one week.
In plain language, the Buyer and Seller agree to give the Buyer a week to get a mortgage and if the Buyer cannot get a mortgage in that time, the Buyer can walk away from the deal with nothing lost.
Why do we make offers Subject to Financing?
Safety! If a Buyer presents an offer to a Seller without a Subject to Financing clause (like with a Subject Free Offer) and the Buyer can’t get a mortgage, the Buyer will have to pay th Continue Reading…