Washington State:
We signed a purchase and sale (presale), and it has this clause in it. If this is legal, how long could a seller stipulate something like this?? I would think once a property closes you should have every right to sell your property if needed. The developer's angle is that they do not want speculator's buying into the project to flip, but since they are doing phases in this project, they don't want any competition from resales is what i am guessing.
"Without the express written consent of Seller (which consent will not be unreasonably withheld), Purchaser will not advertise or solicit offers from the public with respect to the resale of the property by the purchaser in any manner before the Closing Date, or within six months after Closing Date, including through use of any signage within a 1,000 foot radius of the Resort Development"
We signed a purchase and sale (presale), and it has this clause in it. If this is legal, how long could a seller stipulate something like this?? I would think once a property closes you should have every right to sell your property if needed. The developer's angle is that they do not want speculator's buying into the project to flip, but since they are doing phases in this project, they don't want any competition from resales is what i am guessing.
"Without the express written consent of Seller (which consent will not be unreasonably withheld), Purchaser will not advertise or solicit offers from the public with respect to the resale of the property by the purchaser in any manner before the Closing Date, or within six months after Closing Date, including through use of any signage within a 1,000 foot radius of the Resort Development"