The right to exchange property is very rare in the real estate industry. It is not used often, but it is very important to us because it creates trust and we stand behind our offers! In our contracts, we offer all of our customers a guaranteed right to exchange property purchased from us.
For an exchange, however, a property must be in the same state as the original contract (for example, it must not have been clear cut and no rights in any form may have been granted to third parties).
An exchange can be made at any time for a property from the then current offer of Golden Lake Estates Ltd. Since we do not offer a buyback of the property and no repayments, the new property should be of the same price or higher than the property to be exchanged.
For an exchange, an exchange contract is of course made. In the event of an exchange, the property to be exchanged must be returned to Golden Lake Estates Ltd. transferred back so that in this case the customer is seen as the “seller” for the transfer back. A transfer back to us must always be notarized according to the real estate legal situation in our province of Nova Scotia. This can either be done here in Canada or at a trusted notary anywhere in the World.
The customer is responsible for the cost of transferring the property back to Golden Lake Estates Ltd. Golden Lake Estates Ltd. bears the costs of transferring the new property to the customer.
