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The dark side of unconditional agreements of purchase and sale

Wednesday, January 17, 2018 @ 9:50 AM | By Lisa Laredo

In the spring of last year we saw an unusual phenomenon in the real estate market; the appearance of agreements of purchase and sale that were unconditional. The market was so hot that vendors were able to sell most properties within a day or two; many above the asking price. Real estate agents were advising their vendors to reject all offers that contained conditions because of ability of the vendors to pick and choose among multiple offers.

In this article I propose to examine the negative...