Time Is of the Essence Clause in Real Estate: Meaning and Importance
Time Is of the Essence Clause in Real Estate: Meaning and Importance
A wall of paperwork may have been put in front of you for signatures if you’re in the process of buying a house. It’s possible that the contract of purchase will contain a “time is of the essence clause.” However, as a homebuyer, what does this clause actually mean to you? Does it have to exist?
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