We are considering the purchase of a property that will require us to spend about $60K on “rejuvenationâ€.
Our intention is to agree to the vendor asking price in return for an extended settlement period and access so that most of the work can be completed prior to settlement.
How can we protect our $ investment in the property, assuming the worst case of delayed or failed settlement? Any suggestions about contract clauses etc would be really appreciated.
thats a great question for your lawyer – you could also…no, there is little else to add to that.
cheers
brahms
Purveyor of Fine Finances
aka Mortgage Broker BrisbanePossibly put a caveat on the title so that other interested buyers would be distracted from buying or taking the property as security.
This won’t cost much, go and see a solicitor.
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