When buying or selling a home, not everyone can line up the timing perfectly. Many buyers need to sell their current home before they can close on a new one. That’s where the Sale of Purchaser’s Property (SPP) condition comes in.

Let’s look at how it works — and what the 24-hour escape clause means for both buyers and sellers.

From the Buyer’s Perspective

For buyers, the SPP condition provides important protection.

• Extra time to sell: It gives the buyer a window (e.g., 30, 60, or 90 days) to sell their existing home before committing to purchase the new one.
• Financing security: Buyers often need the equity from their current home to qualify for financing on the new property. This condition ensures they’re not on the hook if their home doesn’t sell.
• Less stress: Instead of juggling two mortgages, buyers have a safety net while they transition.

The trade-off is that their offer is conditional — meaning the seller can keep marketing the property and accept backup offers.

From the Seller’s Perspective

For sellers, accepting an SPP condition is a double-edged sword.

Pros:

• The home is technically under contract, giving the seller some level of commitment.
• The 24-hour escape clause allows the seller to keep options open if a stronger offer comes in.

Cons:

• Some buyers may hesitate to view or make an offer on a property already tied up with an SPP condition, since they know another buyer has the “first right of refusal.”
• This can reduce overall interest and showing activity, which could hurt momentum if the market is busy.
• Even with the escape clause, a second buyer might feel like they’re wasting time making an offer they may never get.

Example Scenario

1. Buyer A makes an offer on Seller’s home, conditional on selling their own property within 60 days.
2. Seller accepts, but includes a 24-hour escape clause.
3. Two weeks later, Buyer B submits a firm offer.
4. Seller gives Buyer A notice: they have 24 hours to either:
5. Waive their condition and go firm, or
   • Step aside and let Seller accept Buyer B’s offer.
6. If Buyer A can’t or won’t firm up, Seller moves forward with Buyer B.

Key Takeaways

• The SPP condition is a safety net for buyers who need to sell first.
• The 24-hour escape clause gives sellers flexibility but can also discourage other buyers.

Sellers should weigh whether this type of condition fits the current market climate — in a hot market, it may be less attractive.

 The sale of purchaser’s property condition with an escape clause is about balance. Buyers get security, sellers get flexibility — but both sides should understand the risks, especially how it might affect interest and market exposure.