Exchange
Commercial property & real-estate term
The point at which contracts are exchanged between the buyer and seller. This event creates a binding contract on both the buyer and seller and it is not possible to back out once contracts have been exchanged without risking serious financial penalties.
Part of the Commercial Property glossary — plain-English definitions of the terms you meet when leasing, buying or selling commercial space in South Africa. See also our how-to guides.
More terms under “E”
Encumbrance Efficiency ratio Evaluation Escalator clause Equity Expense ratio Effective age Economic life