Tuesday, August 18, 2009

A High Court case finalized this week draws attention to the importance of obtaining initials to any alteration to a sale contract. If the seller makes any changes to a buyer’s offer and these changes are not initialed (ie accepted in writing by the signature of the buyer) even if his conduct afterwards appears to show acceptance, the contract was effectively a counter-offer by the seller and is void.

This week’s case endorsed a claim for cancellation of the sale by a buyer with the prospect of voiding the Agent’s commission claim and allowing the buyer a full refund of the purchase price paid. BE WARNED!

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