OK here is the question.
You make an offer on a property that is accepted.
You put down a deposit and sign a contract to take it off the market (buy it).
Are you allowed to put a clause in the contract that says, I as the buyer have the right to withdraw from the sale without penalty if building/pest checks etc dont come up to scratch.
Is it common? Or is this the general way property is bought ?
Is a more common way actually doing pest/building checks before you sign the contract?
Cheers for anyone with some info ![jerry]
I think that it common. It you do the inspections before signing, then they could sell to someone else in the meantime – leaving you out of pocket.
Terryw
Discover Home Loans
Parramatta
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HI
It is common practice in Perth to add subject to clauses:
common ones are
pest control
building inspection
finance
and my new one – subject to me ringing the Stata Manager to check on any potential expenses other than normal levies and that I can pull out if I do not agree with them. ie pending liability suits / new roofs etc I am finding that this info is not always in the last strata meetings minutes.though in Perth we use a standard REIWA offer and acceptance form and settlement agents, this may be different in the East,if I am correct you guys use solicitors for settlements????? and I do not remember what form the offer and acceptance was???is it a standard form or contracts drawn up by solicitors??? it was 1988 when I left Melbourne
Celeste
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