irrevocable clause fales sense of urgency artificial unnecessary: Improper Use of the Irrevocable Clause - 08/08/09 02:40 PM
Irrevocable Clause ~ Improper Use
By Brian Madigan LL.B.The irrevocable clause in an agreement of purchase and sale is simply the time limit imposed upon the other party to respond.The major criticisms of realtors concerning the use of the irrevocable clause is that:1) they are too short, and2) they are not changed.The problem is that an artificial sense of urgency is imposed. This is good for the realtor, or the two agents assuming that both the seller and the buyer are independently represented. But, how is this ever good for either client?Real estate agents will argue that it imposes an … (4 comments)
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irrevocable clause fales sense of urgency artificial unnecessary: Irrevocable Clause ~ Improper Use - 11/24/08 08:49 PM
Irrevocable Clause ~ Improper Use
By Brian Madigan LL.B.The irrevocable clause in an agreement of purchase and sale is simply the time limit imposed upon the other party to respond.The major criticisms of realtors concerning the use of the irrevocable clause is that:1) they are too short, and2) they are not changed.The problem is that an artificial sense of urgency is imposed. This is good for the realtor, or the two agents assuming that both the seller and the buyer are independently represented. But, how is this ever good for either client?Real estate agents will argue that it imposes an … (3 comments)
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