Rat and Mouse
Tue
25
Sep
Still time for a quick flip between now and the house price crash

According to the Telegraph it would seem so. This is a story of the pure and elegant flip, the one that takes place between exchange and completion (as far as the Rat and Mouse is concerned, a further sale that takes place after completion is just that... another sale... not a proper flip). Interestingly, Ed Mead over at Douglas & Gordon has introduced a contract clause effectively banning the flip.

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Comments

Of course he wants to introduce such a clause - a possible onsale at �550K makes the �500K that he achieved for his friend look less than clever.

You could understand a vendor not wanting the hassle of more viewings after having agreed a sale but such properties are often empty and, properly controlled, further viewings hurt no-one.

You could see how such a clause, which serves only the agent's self interest, could prejudice the client's best interests by putting off certain potential purchasers.

Posted by david at September 25, 2007 8:41 AM


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