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  1. 15 wrz 2023 · In this article, we have drawn together a comprehensive list of 75 commonly used construction words, phrases and acronyms, and arranged them in a list so you can easily search for and review their meanings.

    • Building Foundation

      5. Simplicity: The construction process for strip...

    • Blueprints

      At the heart of every towering skyscraper, cozy home, and...

    • Price Proposal

      Terms and Conditions: This includes legal and contractual...

  2. A reservation agreement is frequently used in the sale of new homes when a buyer reserves the right to buy the property for a period of time (the reservation period) and pays a fee. The builder or developer states that it will not sell the property to another during the reservation period.

  3. Reservation agreements are common within new building conveyancing. Residential developers use them to give buyers a fixed exclusive period in which to exchange contracts. In return, the buyer pays a non-refundable deposit that can be forfeited if the deadline is not met.

  4. The purpose of the reservation agreement is to give buyers time to secure funding or complete other housekeeping items before purchasing a property. For sellers, it offers incentive for holding a property for a buyer.

  5. 5 lut 2023 · This resource lists 100 construction terms for a comprehensive understanding, providing a broad overview of the most commonly used phrases and terminologies in various construction projects.

  6. 22 lip 2016 · Buyers will usually be asked by the builder or its sales team to sign a reservation agreement which will outline the terms of the reservation and invariably state that the deposit is non–refundable in the event of the buyer failing to exchange contracts within the agreed period.

  7. 8 lut 2024 · Get fluent in construction terminology with our 2024 guide, featuring 75 essential terms every professional should know.

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