Hello,
I am wondering if there are any risks associated with signing a 'side agreement' that includes a non-disclosure clause in relation to an off the plan apartment purchase. One of the special conditions I asked for is: if the valuation comes in less than 95% of the valuation, then I can proceed with the contract for 50% of the difference between the price and the valuation, or terminate the contract. I've been sent the below side agreement.
Besides not being responsible lending and my concerns with the non-disclosure clause, is there anything else I should be concerned about entering into this agreement given it's not included in the main contract? Or is this normal for property developers?
Thank you in advance.
I am wondering if there are any risks associated with signing a 'side agreement' that includes a non-disclosure clause in relation to an off the plan apartment purchase. One of the special conditions I asked for is: if the valuation comes in less than 95% of the valuation, then I can proceed with the contract for 50% of the difference between the price and the valuation, or terminate the contract. I've been sent the below side agreement.
Besides not being responsible lending and my concerns with the non-disclosure clause, is there anything else I should be concerned about entering into this agreement given it's not included in the main contract? Or is this normal for property developers?
Thank you in advance.
