making offers

You can do what you like if it is accepted by the vendor. I personally would laugh at you if you made an offer to me like that. I call that a ‘Clayton’s’ Offer – the offer you have when you don’t have an offer.

It is a tactic to get the seller to become the one making the offer and shifts the power of acceptance to the buyer.

Robert Bou-Hamdan
Mortgage Adviser

0414 347 771
[email protected]
http://www.mortgagepackaging.com.au

FREE Finance-Related Newsletter – Click Here

Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd

Hm… Answers here don’t seem all that well-balanced lately… This is called adding a clause (to a contract). I’m sure I’ve read Steve advocates using these, but probably not a good idea to use the particular one you mentioned as it might not be taken too kindly.

First off, if you’ve done your due diligence you should be pretty sure you want the property. Second, you can add a clause like, “subject to approval of finance” or “subject to structural inspection report”,etc. What this says is, “I’m serious about buying, but don’t want my head on the chopping block if something goes wrong with my bank or they find the walls riddled with termites.”

If someone had a problem with such a clause, I’d be wondering what they are hiding and move on to another property.

There’s a book about adding clauses too… Not too sure of the title, but I think it was something like “Clauses Made Simple”. Just search the forums for “clause/s”.

Allan.