Words: Ashley Rigg
Published: 20th September 2010
Developer sued over definition of “sold”
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Source: Global edge
User Comments
The blame squarely rests on the agent selling as the acronym KYC "know your client"comes to mind. Agents must continuously gauge their target markets understanding and create checks and double checks. I actually dont think there was any wrong doing in terms of what was said but I think it is important to check what people understand from what you are sending out. Like how they receive the advertising, typical is BMV where as we all know in the UK means what it says but how many times have deals gone bad because the vendor didnt understand that the deal should stand on the day of the Ric's valuation as opposed to the one 5 years ago. Hence one begs the question BMV, below market Value? or BRV below rics valuation same thing isnt it...until your clients lawyer calls you or yours calls the vendor......banquet forn thought....
Ola Moses,
MosesMansions