There's a bad word in real estate that most people don't get to hear...Rescission Notice. It means you're in big financial and legal trouble if you've been served. Essentially, if you receive a rescission notice, you are at risk of losing your deposit if you can't settle the property. Today, we are going to find out all about it, and how you can avoid putting yourself in that position with some expert advice.
Building an empire in real estate conveyancing, our amazing conveyancing expert, Kiani Mills, formerly from KLM Conveyancing, has recently launched her new business Imperiale. Imperiale is a property concierge who share knowledge with like minded people who see property as a gateway to building wealth.
1. What is a rescission notice?
2. In what circumstances do buyers get served a rescission notice?
3. When does it get served?
4. What are the penalties?
5. How are the penalties collected?
6. If you can't settle, will you always get a rescission notice?
7. Explain what happens if you can't settle, but need a later date than the initial settlement.
8. What happens if you can't get the finance, and can't settle?
9. What's the best way to avoid a rescission notice?
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