Blog > Can I buy a home in Markham conditional on selling my current property?
Can I buy a home in Markham conditional on selling my current property?
by
Can I buy a home in Markham conditional on selling my current property?
Yes. In today’s balanced market—where average days on market run between 30 and 45 days—the Subject to Sale of Property (SPPC) condition has made a strong comeback across Markham. In an OREA Agreement of Purchase and Sale, an SPPC clause protects move-up buyers by making their purchase binding only after securing an unconditional firm sale on their existing home. Paired with a standard 24, 48, or 72-hour escape clause that allows the seller to keep marketing the property, the SPPC condition eliminates the danger of carrying two mortgages or having to sell first without knowing where your family is moving next.
The Move-Up Buyer Dilemma in a Balanced Market
| Traditional Move-Up Strategy | The Primary Risk | Market Condition Suitability |
|---|---|---|
| Buy First, Sell Later | Risk of failing to sell your current property in time, causing mortgage default or expensive bridge financing shortfalls. | Aggressive seller's market where homes sell in under 7 days with multiple offers. |
| Sell First, Buy Later | Risk of selling your home without securing your next property, forcing interim rentals, double moves, and storage costs. | Falling or volatile markets where pricing risk is entirely on the selling side. |
| Conditional on SPPC | Secures your target home while providing 20 to 60 days to sell your current property safely without overlapping mortgage debt. | Balanced market (30–45 days on market) with balanced leverage between buyers and sellers. |
For move-up buyers transitioning from an entry-level condo or starter townhouse in Cornell or Greensborough into an executive detached home in Berczy or Unionville, timing the market has always been stressful. In the hyper-competitive market of previous years, sellers would reject any offer containing an SPPC condition immediately. Today’s balanced conditions have restored practical offer structuring.
As a REALTOR® and CPA with the Kaizen Real Estate Team, I view the SPPC condition as essential risk mitigation. It allows growing families to trade up into their ideal long-term home without taking on speculative carrying liabilities or rushing the sale of their existing asset.
Understanding how the clause operates inside an official Ontario Real Estate Association (OREA) contract ensures you can present an attractive, compelling proposal to the seller.
How the SPPC Condition Works in an OREA Contract
In standard Ontario real estate practice, the SPPC clause (often drafted using OREA Form 100 Schedule A language) creates a legal agreement with specific conditional terms:
- The Conditional Period: The buyer is granted a specified duration—typically 20 to 45 business days—to list, market, and achieve an unconditional Agreement of Purchase and Sale on their current property.
- Deposit Handling: The buyer submits their deposit upon initial agreement acceptance. The funds are held safely in the listing brokerage's real estate trust account. If the condition cannot be met, the deposit is returned in full without deductions.
- Waiver or Notice of Fulfillment: Once the buyer successfully sells their current home and clears all conditions (such as financing or home inspection), they deliver a formal Notice of Fulfillment, turning the purchase firm and binding.
The Escape Clause: Balancing Buyer Protection and Seller Freedom
| Step in the Escape Mechanism | Seller's Perspective | Move-Up Buyer's Reaction Required |
|---|---|---|
| 1. Ongoing Active Marketing | The seller continues actively showing the home on the MLS® under a "conditional sale" status. | Buyer actively markets and shows their current property to secure a firm buyer quickly. |
| 2. Second Offer Received | The seller receives a secondary, competing offer they wish to accept. | Secondary offer is accepted, conditional on the seller being released from the primary SPPC contract. |
| 3. Invoking the Escape Clause | The seller formally serves notice (typically giving 24, 48, or 72 hours) to the primary buyer. | The clock starts ticking immediately upon confirmed delivery of the written notice. |
| 4. The Decision Point | The seller waits for the primary buyer’s response within the specified time window. | Buyer must either waive the SPPC condition and firm up, or walk away and receive their deposit back. |
Sellers rarely accept an SPPC offer unless it includes an escape clause (most commonly 48 or 72 hours). This clause ensures the seller's home does not sit idle or tied up indefinitely.
If the seller receives another acceptable offer during your conditional period, they serve formal notice. You then have that agreed-upon window (e.g., 48 hours) to either waive your condition—proving you can close without selling your current property first—or terminate the deal gracefully, allowing the seller to proceed with the second buyer while your deposit is refunded in full.
How to Price and Market Your Current Home So Sellers Say "Yes"
| Strategy Area | Weak SPPC Proposal (Sellers Reject) | Strong CPA-Backed SPPC Proposal (Sellers Accept) |
|---|---|---|
| Listing Status | Home is not yet listed on the MLS®; photos and staging are incomplete. | Property is fully prepped, professionally photographed, and listed on the MLS® within 24 hours of offer presentation. |
| Pricing Strategy | Priced at an aggressive, optimistic high hoping to test the market ceiling. | Priced competitively right at market value supported by a fresh Comparative Market Analysis (CMA). |
| Condition Timeline | Demands 60+ days to sell; long 72-hour escape clause window. | Tight 21-to-30 day conditional timeline paired with a reasonable 48-hour escape clause. |
| Proof of Sellability | Vague promises about neighborhood interest and casual foot traffic. | Includes a complete marketing plan, floor plans, and verified sales velocity stats for the sub-neighborhood. |
A seller is not just evaluating your offer price—they are evaluating the liquidity of the property you need to sell. If your current property is an overpriced townhouse with cluttered rooms and poor listing photos, a seller's listing agent will advise them to reject your SPPC offer immediately.
To secure an SPPC agreement on a desirable Markham home, your existing property must be positioned to sell quickly. Providing the seller with a full marketing dossier, professional staging confirmation, and verified neighborhood turnover data proves that your home will clear within 14 to 21 days.
A 5-Step Execution Playbook for Move-Up Buyers
- Complete Pre-Listing Preparation First: Complete painting, decluttering, staging, professional photography, and floor plans on your existing home before making offers on your target property.
- Secure Dual Mortgage Pre-Approvals: Work with an experienced mortgage broker to determine whether you have the borrowing power to bridge the two properties if you decide to waive during an escape clause scenario.
- Target Stale or Balanced Inventory: Properties that have been on the Markham market for 20 to 45 days are prime candidates for an SPPC offer, as the sellers are motivated to secure a committed buyer.
- Draft a Clear OREA Schedule A: Ensure your real estate agent includes precise wording regarding deposit returns, notice delivery methods, and realistic condition timelines.
- Price for Velocity: Once your SPPC offer is accepted, price your current home to generate immediate viewing activity within the first 10 days of listing.
Planning to trade up to a larger Markham home without taking on double-mortgage risk? Call Michael John Lau, REALTOR®, at (416) 700-0286 to structure an SPPC strategy tailored to your timeline.
Next Steps
- Move-Up Buyer Services — Learn how we structure conditional offers to protect your family's equity and housing stability.
- Request a Comparative Market Valuation — Discover your current home's true sale price and liquidity timeline.
- Explore Strategic Seller Services — Professional staging, photography, and pricing strategies to sell your current home fast.
Frequently Asked Questions
What does SPPC mean in Ontario real estate?
SPPC stands for "Subject to Sale of Property Condition." It is an agreement clause in an OREA contract that makes the purchase of a target property conditional on the buyer successfully selling and clearing conditions on their existing home within an agreed timeframe.
How does an escape clause work in an SPPC offer?
An escape clause allows the seller to continue showing and marketing their home. If the seller receives another acceptable offer, they give the original buyer a set window (typically 24, 48, or 72 hours) to either remove their conditions and firm up the deal, or walk away with their deposit fully refunded.
Why are Markham sellers accepting SPPC offers again?
In a balanced real estate market where properties take 30 to 45 days to sell, accepting a conditional offer from a qualified buyer with a marketable home is often preferable to letting a property sit active with zero offers.
What happens to my deposit if my current home doesn't sell in time?
If your current home does not sell within the agreed conditional period, and you do not waive the condition, the Agreement of Purchase and Sale becomes null and void. Your deposit is returned to you in full without deductions, via a mutual release signed by both parties.
Ready to plan your move-up purchase safely?
Michael John Lau combines CPA financial discipline with expert contract negotiation to help Markham families step up into larger homes without unnecessary risk.
Michael John Lau, REALTOR® · Markham, Ontario · (416) 700-0286
Disclaimer. Michael John Lau is a licensed REALTOR® serving buyers, sellers, and move-up families across Markham, Ontario and the Greater Toronto Area. Contract clauses, OREA standard forms, and market conditions reflect practice as of September 2026 and vary on a case-by-case basis. This article is general real estate commentary and does not constitute formal legal or financial advice. Always consult your real estate lawyer and mortgage broker before executing conditional purchase agreements.