ATTORNEY AT LAW SIYANA VELIKOVA: HELP WITH PROPERTY DEALS
What should we know when buying or paying a deposit on a property?
When buying through an estate agent, you are often asked to pay a "reservation deposit" so that the listing can be "taken off" the market. When the property is attractive and there are other potential buyers, you may agree to this impulsively. However, it often turns out that the property has encumbrances – an unreleased mortgage, a seizure by a court or public enforcement officer, multiple owners, or another issue. Such encumbrances may prevent you from acquiring the property.
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