Subject to sale of PPOR offer

How does Subject To Sale work from an agents perspective?
In WA, if the vendor adds a '48 hour clause' to the contract does this mean they put 'Under Offer' on the Ad and Signboard and stop home opens?
Else if they use the 48 hour clause they continue as normal and tell everyone at the home opens there is an offer and encourage prospective buyers to match or beat the current offer. Then if vendor recieves another offer then the buyer has 48hours to go unconditional?

 

I'm not sure I would go through the legal steps of putting a subject to sale clause in for a 48 hr period. Does the buyer think they can sell their house within 48 hrs of putting the offer in on the house they're interested in?

 

It definitely varies by agent and property/situation but a hungry agent will usually keep weekend opens (may cut mid week opens) until unconditional on any risky sale incase it falls over. Its in the sellers interest for them to find another buyer. A buyer with subject to sale is avoided if possible, even for a slightly lower purchase price. It puts the marketing campaign at risk. The only exception would be if the agent has both sales. I doubt an agent would change the Ad to under offer in this scenario. The 48 hours you’re referring to is a sunset clause in QLD and usually applies after a given time period.

 

My understanding is it is to give them time for bridging finance approval if they have a buyer but are waiting for their own contract to go unconditional. A buyer in this scenario would want to have all their docs in and just be ready for submission in case its needed.

 

What state was this please Willy? I'm a seller with apparently a dead keen buyer who has now put her property on the market but I don't have a contract at all and I'm worried it might get stale through COVID-19.

 

NSW