Have you ever noticed the little sticker Realtors add to their for sale signs that says C/S? 6 years ago, I assumed that meant the home was sold period. However, when I purchased my first home, I learned the difference between a sold property and a conditionaly sold property. Sold is pretty explanitory, however the latter means an offer has been accepted and is awaiting some type of condition before the deal is done. Some examples are buyer financing, seller repairing the roof or replacing the furnace. Up until now, the seller was obligated to advertise their property was conditionally sold.
 
Now there is an option for sellers to not advise any interested buyers their property is “almost sold”. This could work out to their advantage if their sale falls through and they get a potential back-up sale, however, wouldn’t you be disappointed if you found the home of your dreams, made an offer only to find out it was already sold?
 
To find out more about this new rule, check out the Calgary Herald’s article “Calgary Home Sellers Not Required to Report Conditional Sales”.

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