Exclusive dealings

November 17, 2016

It is becoming common for people considering purchasing a property to want to have an exclusivity period where the vendor is not allowed to deal with anyone else during the period whilst the purchaser "gets its house in order".  This allows a purchaser to carry out due diligence and other enquiries during the exclusivity period without the fear that the deal will be lost. 
We warn vendors to be very careful when coming to any exclusivity period agreement with a purchaser. They can inadvertently make a binding agreement with someone which considerably restricts their ability to deal with the property, whether they intended to do so or not.

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