Maintenance/cooling-off, etc.

Updated: July 2024, 3

Overview of security measures such as earnest money

One of the items to be included in the Important Matters Explanation is a summary of security measures such as earnest money deposits.

There is a condition for this: ``If the real estate broker is the seller himself.''

In other words, when a real estate agent receives a deposit that exceeds a certain amount from a buyer for the sale of real estate,

Preservation measures must be taken in advance.

Detailed information on these conservation measures is provided in the Real Estate Business Act.

These conservation measures must be taken after reading and understanding the Real Estate Business Act.

If you proceed with the wrong interpretation, you will not only end up making incorrect statements in the important notes, but also

Failure to take appropriate safeguards may result in significant damage to the buyer.

Our company has several professional staff members who are not only certified administrative scriveners but also real estate transaction specialists.

He is also well versed in real estate law. In addition, he is well versed in creating critical theories,

You can leave it to us with confidence.

Cooling-off in real estate sales

I'm sure many of you have heard of the cooling-off system.

To put it simply, I bought it, but when I think about it calmly, I don't need it.

This is a system that allows you to cancel your contract unconditionally within a certain period of time if you wish to cancel it.

So, is there a cooling-off system for real estate transactions?

In conclusion, there is. There are provisions in Article 37-2 of the Real Estate Business Act.

• Real estate sales contract
• Seller is a real estate agent
• Places other than offices, etc.
• Notify in writing within 8 days

Cooling-off is possible mainly in cases where the above applies.

However, there are individual exceptions.

For example, if the contract is concluded at a location other than an office, etc., upon request from the buyer.

If a location is specified, the cooling-off period will not apply.

Regarding this exemption, there are various things other than those mentioned above.

I think some people find it very complicated.

It is necessary to read and understand a lot of the Real Estate Business Act, so the ability to read and understand the law is required.

Therefore, it is more advantageous to have an administrative scrivener who is a lawyer.