Saskatchewan Option Clause Explained: Protecting Buyers and Sellers in Real Estate
Posted by Kent Braaten on
Understanding the Saskatchewan Option Clause in Real Estate Transactions
When buying or selling a property in Saskatchewan, it’s important to understand every clause in your real estate contract—especially the Option Clause. This clause, outlined in the Saskatchewan REALTORS® Association Form 801, plays a critical role in situations where a property remains on the market while a conditional offer is in place.
What is the Option Clause?
The Option Clause allows a seller to continue showing their property and receive other offers even after accepting an initial offer with conditions. If the seller accepts another offer, they can give written notice to the first buyer, triggering a set number of hours for that buyer to remove all conditions.
How…
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