BrokerageIndustry News

Cracking down on bailing buyers

From The Real Deal
Published on Sep 2, 2009

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by CareyBot

In this weak real estate market, new condo developers possess relatively little in their arsenals to arm themselves against the onslaught of purchasers seeking to back out of contracts. But there are a few measures developers can take to protect themselves without scaring off potentially legitimate buyers.

Some developers, for instance, are using new clauses designed to prohibit buyers from litigating their way out of deals.

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