Can I challenge a Lot that is already on hold?
September 9, 2011
Yes. To challenge a hold, you must provide a 15% deposit cheque and enter into a Purchase Agreement with us. At that point we will give the individual with the existing hold 48 hours notice to either provide us with a 15% deposit cheque and enter into a Purchase Agreement or lose the hold. Once you challenge a hold, if the original party does not exercise their first right of refusal, your Agreement and deposit will become a binding sale.