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Reservations over home buying reservation agreements

If there’s one thing that infuriates house sellers (other than being gazumped) it’s a buyer pulling out at the last moment without a good reason. However, the government have stepped in and announced that 2019 will see a trial for reservation agreements – which basically tells conveyancers that buyers who pull out of a transaction because they ‘didn’t like the colour of the bathroom’ will face consequences. And those consequences could be costly. Housing Minister Heather Wheeler informed the Council for Licenced Conveyancers annual conference that reservation agreements could be…

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