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Professional Standards Manual

Notice of Change: Information in this manual will be changing when new rules about disclosures and dual agency take effect on June 15, 2018. Please check back for up-to-date information about agency and disclosure obligations. Learn more about the new rules.

Trading Services

4. General Information

(a) Contract Clauses - View Entire Section

(XVIII) Miscellaneous Clauses

Seller Purchasing Residence Clause

Subject to the Seller entering into an unconditional agreement on or before (date) to purchase another residence.

This condition is for the sole benefit of the Seller.

NOTE: This subject clause is to give a seller the opportunity to acquire a new home before being committed to sell and vacate his or her existing home. From the buyer’s perspective, the subject removal period should be as short as possible.

Friend/Relative Approval (for Buyer or Seller) Clause

Subject to approval of the (select either purchase or sale) by (name) on or before (date) .

This condition is for the sole benefit of the Buyer/Seller.

Ω If not using the standard form Contract of Purchase and Sale, refer to ‘‘Contracts under Seal’’.