Coronavirus clauses become new norm

Property transactions are being hit with new "coronavirus clauses". If there are complications after exchanging contracts, such as a person not being able to move or losing a mortgage offer, these allow the completion date to be delayed or a party to pull out of the purchase. Builds will be particularly affected, as completion dates after exchange are often not set and can be months in the future, and Andrew Boast of SAM Conveyancing said coronavirus clauses should be the norm in new-build sales.

The Daily Telegraph (19/06/2020)

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