What does a 28 day exchange deadline mean?

The developer requires a fixed period, usually 28 days, between reservation and the exchange of contracts. It is up to the developer whether they strictly adhere to this deadline or whether they extend it. 

A developer may choose to extend this deadline due to the buyer's situation e.g. if their conveyancer is waiting for the results of the local searches. 

Because new build homes are not in a chain, the purchase is much more likely to complete without delay.

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