Any purchaser signing that would be pretty stupid. And it goes against the Law Society advice to solicitors. The only people who could sign that is those who don't need a mortgage to complete.Far from it really, a developer will never include such a clause in the contracts they draw up and will more often than not refuse a purchaser's request to insert one. Vendors of a second hand properties usually accept such a request, but they are by no means obliged to.
Or rich?Any purchaser signing that would be pretty stupid.
The only people who could sign that is those who don't need a mortgage to complete.
In a supply constrained market developers continue to include this as standard. They hold the cards, if a potential purchaser isn't prepared to commit, then they offer it to someone else or the house doesn't get built.Any purchaser signing that would be pretty stupid. And it goes against the Law Society advice to solicitors. The only people who could sign that is those who don't need a mortgage to complete.