Now Reserved... What is a Reservation Agreement? How upsetting is it if a buyer or seller pulls out right at the last moment? You then lose the home you wanted to buy and have a big legal bill.

You may have seen our 'Reserved' properties and wondered what this means. We are the only local agent to use Reservation agreements. We feel it's a no-brainer.

Quite simply, a Reservation Agreement is a legally binding contract between seller and buyer at the point the sale is initially agreed. A time frame is agreed, and neither party can pull out on a whim or mess around. Of course, for something serious or out of their control, either side can walk away with no penalty (we can give you all the ins and outs). If a buyer doesn't want to commit to the agreement, we have doubts about their intentions. Without these agreements, roughly 1/3 of sales fall through in the UK. The Government have not made Reservation agreements law yet, but they recommend the use of them in their guides.

A rarely available two-double-bedroom retirement cottage in the heart of East Preston. Spacious living arrangement, two bathrooms, one being the en-suite. Private rear garden and conservatory, and large well-kept communal gardens. Ready to move into upon completion. The development has a communal conservatory and ample residents parking.
EER D59

[This property is "Legally Prepared" - Cooper Adams has collated the documents for the draft contract. Any potential buyer can request these from us, prior to offering. The pack includes Legal Title, Official copy of the Register Title (Property Deeds) Title Plan, Seller's Protocol Forms (Property Information forms) TA6, TA10, Warranties, Guarantees, Planning permission and Building control certificates, Estate or Lease Management packs, Property details and EPC. We endeavour to supply as much of this as we can in our pack.]

[This seller of this property requires a ‘Reservation Agreement’ to show their commitment to protect any serious buyer while proceeding to exchange of contracts. More info at – www.cooper-adams.com/blog/cooper-adams-secure-reservation-agreements]