Tost Realty GroupText or Call(403) 264-7653

Calgary Real Estate by Tost Realty Group

Calgary Real Estate and Conditionally Sold Properties

For years CREB (The Calgary Real Estate Board for those of you who do not know) have been marking sales as "Pending" or "Conditionally Sold" when an offer was accepted. The practice has been to mark the listing as pending in the system and not continuing with marketing the property  to potential buyers.

Just this past December CREB decided that they would now provide sellers with a choice when they are in a conditionally sold status with a willing buyer. ( almost all listings are conditionally sold before they become firm to allow buyers to satisfy a home inspection or financing condition. )

Like any change there is a time frame if adjustment and with changes brings comments about whether it is positive or not. It is my opinion that there are pros and cons to this new ruling and I see them as follows:

Sellers Pros One of the most positive outcomes from this rule is that sellers can continue to market their property even while a conditional offer is accepted....