Realtors – How Long for Subject Removal?

LeahCoss.ca Hi, everyone. How are you? It’s Leah Coss with The Mortgage Centre. And this is a very specific post directed to Realtors, or if you are looking to sell your own home, here’s some rules of thumb that you need to go by. And it’s specifically revolving around subject removal. So, to help you out when you’re trying to determine subject removal time line. I know you want to be competitive. Make sure that your bid gets accepted. The problem is that if you don’t give us enough time for financing, based on the specific situation of the property, it doesn’t help us out at all. So here’s a couple of things to help you out. First off, if you are the seller and you are getting an offer of a three day subject removal or a five day subject removal time line, and it is a strata unit, please, oh please, for the sake of everyone’s sanity, order the Form B right away, and order it on a rush. I know it costs a little bit more. But you know what? No matter who you sell this property to, you’re going to have to have a Form B. And we cannot remove subjects until the bank who’s going to be lending on the mortgage for this property to the buyer, they can’t approve anything until they see a Form B. As well, if there is something that’s on Form B that’s saying, oh, there’s a legal action, or there’s repairs happening, or a leak somewhere, we need to know that sooner than later, because then we need to start putting balls in motion to counteract whatever’s on Form B. So, please, please …
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