Saturday, 16 December 2017

‘Brexit clauses’ aim to calm nervous buyers

ACCORDING to some, developers and agents are becoming increasingly desperate to sell homes as the market

ACCORDING to some, developers and agents are becoming increasingly desperate to sell homes as the market has slowed further — over fears that a Brexit could send house prices tumbling.

Agents are said to be offering nervous clients “Brexit clauses” which allow them to back out of a deal if Britain votes to leave the EU next Thursday (June 23).

Developers too, such as Barratt Homes, have been convincing worried buyers to proceed with transactions by writing the newly-devised clauses into their contracts.

The agreements mean buyers are not required to exchange contracts until after the vote.

If they don’t like the outcome, they can back out without losing any money, say sources.





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