Government reveals Reservation Agreements research
Summary
The government has published research on reservation agreements, with the article noting that estate agents have given the idea a cautious reception. The extract suggests the topic is being considered as part of wider discussions around property transaction practice.
Why it matters
Reservation agreements can affect how residential transactions are structured and the point at which parties become committed. Surveyors may need to understand any future changes because they can influence sale progression, buyer behaviour and transaction risk.
Key points
- Government has revealed research into reservation agreements.
- Estate agents appear to be cautious about the proposal.
- The issue relates to how property transactions are reserved or committed.
- Potential implications for transaction process and market practice.
Organisations:
government, estate agents
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