Want to sell a property with confidence? Bet on the reservation contract. A smart solution that protects the course of the sale and ensures you only a serious buyer of real estate. That is why the buyer should sign a deed - booking contract - and ideally deposit a booking fee or deposit.
In case of real estate sale, you or your authorized real estate agent is looking for a suitable buyer. You advertise, take care of the property and potential buyers, spend your free time selling or exploring. That is why the good word of a potential buyer is not enough to ensure a reliable buyer. Reservation agreement - that's the answer. It protects all parties - even the buyers themselves. While without a reservation agreement, either party can back down at the last minute, you have a commitment to the reservation agreement. And the buyer is obliged to fulfil the obligations.
Some facts may change or adjust during the sale of the property - whether in terms of financing or other circumstances. While variable points may not be included in the reservation contract, some should be specified. These should be the exact specification of the property or land. Define the subject of sale so that you do not regret it later ... even if it is not yet a sales contract. Equally important is the purchase price of the property and the booking deposit. Write down in advance on what amount you agreed with the buyer, so later you do not have to compromise on their claims.
Do you sell a property and have more buyers? Then the fastest one signs the reservation contract. However, if you do not have to buy or pay within the given deadline, do not forget to define the exact term of validity of the reservation in advance. The deadline should be sober so you can find a replacement candidate in time. If you set too long a reservation period, it may happen that the original buyers will find another property and suddenly lose the opportunity to sell quickly and profitably. So choose a sale with an advantageously written and legally treated reservation contract - security is security.
For a reservation agreement to be valid in all respects, the only thing left is - to be checked and agreed by all parties - by signing it. The reservation agreement protects the seller and the buyer, so it should be part of the sale of each property.
