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What is a Conditional Sale when a Buyers Fee is required?

Buyers conditional fee sale
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What is a Conditional Sale when a Buyers Fee is required?

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A. This is a term given to a property that upon acceptance of an offer, the buyer shall pay a 5% +VAT (subject to a minimum of £5000 +VAT) non-refundable buyer’s fee. The conditions of sale require exchange of contracts within 28 days (unless otherwise stated) followed by completion within 28 days of exchange.

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