This Week in Real Estate #007 – Subject Clauses on a Contract when Buying or Selling a Home

(March 28, 2014 )

Do you know why subject clauses on a contract are important when buying or selling real estate? Has your Surrey real estate agent explained how long it takes to satisfy and remove them? If you buy a house without knowing the most common subject clauses on closing, then you could be delaying the process.

Subject clauses offer protection in case something goes wrong during the contract. Those familiar with the more common subject clauses use them to protect their best interests. Does this sound like your last real estate transaction?

If you’d like to know more about subject clauses on a contract in the Greater Vancouver area, then spend 20 minutes listening to this edition of This Week in Real Estate, where host Nick Jaworski interviews Lance Marples from Sutton West Coast Realty about subject clauses,

Where Subject Clauses Are Most Important in a Contract

The episode kicks off with Lance answering the question: What is a subject clause? He also explains how it affects closing on a real estate transaction, and what the difference is between subject clauses and conditions or terms.

Then Lance segues into why subject clauses are so important. Using specific examples to back up the information, he also explains areas of the contract where subject closes are the most crucial.

If you haven’t done your homework about subject clauses, then you could wind up unintentionally compromising the final closing.

Different Types of Subject Clauses

There are different types of subject clauses on a contract. Lance explains how these could affect buying or selling real estate, and also answers these questions:

- Why do I need to get a home inspection on strata?
- What types of things do I need to get in writing?
- How could mold affect a real estate contract?

Now ask yourself two questions: Do you make effort to stay informed about various subject clauses on a contract? Do you understand why this is so important? If you answered no to either, then you could risk receiving horrible news when it comes time to close.

Satisfying a Subject Clause on a Contract

The conversation then turns to the topic of how a subject clause is satisfied on a contract in Surrey or surrounding areas. Lance takes time to talk about the standard length of the process, as well as the different subjects that could interfere with the length of a contract.

Then Lance goes on to explain the listing to sales ratio in today’s real estate market, and how that affects the subject clause on a contract.

Finally Lance talks about why you can’t close on a house without a professional on the South Slope, especially when it comes to subject clause on a contract. He explains what things can cause the contract to drag on, and how you can avoid those delays.

Are You Ready to Learn More about Subject Clauses?

Do you want to know more about different types of subject clauses? Would you like to understand how they could potentially delay your contract from closing? Listen now to the entire podcast, and then if you have questions or comments share them in the space below. You’re welcome to join in the discussion, or kick off your own.

Lance and Connie Marples are a high energy team with the real estate experience to help their clients achieve their real estate goals, whether they’re buying or selling. Give Lance and Connie a call at (604) 538-8888 with all of your real estate questions and needs.

Marples Marketing Group
Sutton Group – West Coast Realty
15595 24th Ave
Surrey, BC
V4A 2J4

Lance Marples
Office: (604) 538-8888
Mobile: (778) 840-1500

Connie Marples
Office: (604) 538-8888
Mobile: (778) 840-1700