|
I caught this on social media this morning via a realtor and confirmed by a real estate law firm:
Developers are adding a new clause to the presale contract that says, generally speaking, if the "Building Constructing Pricing Index" rises by more than 4%, the developer has the right to raise the price by the amount over 4%.
Caution to anyone out there in the market, always read the contact carefully and/or have a lawyer review it for you to avoid getting burned later on.
|