Sunset Clauses or Sunset Dates are a part of the buying process that you need to be aware of. At Williams Corporation all of our contracts clearly detail our Sunset Clauses to ensure you have the smoothest purchasing process possible. Let’s cover what they are and why they are important!
A Sunset Clause is an endpoint with which the sale and purchase agreement is no longer valid. These are implemented for a variety of situations such as if the existing owner of a piece of land delays leaving, council zoning changes or planning changes.
One of the primary concerns of customers is that developers may purposely delay the production of a development in order to sell the development at a later point for a higher price. Of course, this is bad practice and leads to mistrust and poor relationships between customer and company.
In order to avoid these situations, here at Williams Corporation we clearly state in our purchase and sales agreement that we will never delay a job in order to sell for a higher price at a later date. In most cases, we meet the projected completion dates in advance, while many other smaller developers do not. As a result, choosing smaller companies may come with their attached risks and therefore choosing a reputable builder is crucial. These situations really highlight the importance of sunset clauses.
This obligation in Williams Corporation contracts is very attractive to both home buyers and investors alike as a fixed price means that when your home is completed it will likely be valued at a higher price than what you purchased it for!
If you have any questions about Sunset Clauses or want to learn more about our homes, please get in touch with us today.