Contact a lawyer as soon as you are about to put the property on the market and before you sign any agreements with the real estate company. Are you aware that a ‘reserve contract’ even if the purchaser is putting down a small fee, is exactly what it is called ‘A CONTRACT’. This will tie you to completion dates, price, and of course many commitments. At a time when you are eager as you have a buyer, take stock and have a lawyer read the reserve contract.
Please note: The information provided is based upon our understanding of current legislation. It is not legal advice but is provided freely to enable you to be properly informed. We recommend that if you are considering taking action, you should seek professional advice.
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