Hi all
I'm posting this one again as the wrong thread got deleted.
I am looking at a property which is being sold through a vendors advocacy and this particular group are known to include a clause in the contract of sale which states that if the vendor receives a better second offer before the first offer becomes unconditional and the purchaser cannot or will not match or better the second offer then the vendor can terminate the contract whereupon this contract can have no further force or effect except that any deposit paid shall be refunded in full.
Just wondering if anyone has any experience with such clauses.
Thanks in advance.
Rick
I'm posting this one again as the wrong thread got deleted.
I am looking at a property which is being sold through a vendors advocacy and this particular group are known to include a clause in the contract of sale which states that if the vendor receives a better second offer before the first offer becomes unconditional and the purchaser cannot or will not match or better the second offer then the vendor can terminate the contract whereupon this contract can have no further force or effect except that any deposit paid shall be refunded in full.
Just wondering if anyone has any experience with such clauses.
Thanks in advance.
Rick
