Description

Sample land reservation agreement, made under the condition that parties only enter into a land sale and purchase agreement subject to a satisfactory due diligence report on the land in question.

Why use a reservation agreement?

For example to find out:

• if the property is free of debt, liens and encumbrances
• if the property really belongs to the seller
• if the description of the property matches what the buyer has been told
• if the property has a legal land title document