Hi all,
Looking to put my first offer in on a house (intending to reno). Have previously only purchased/made offers on units – so have never bothered with the "Pending Building/Pest" inspection clauses.
What I wanted to clarify is exactly how to word these two inspections in my written offer. ie. is "Pending Building Inspection" enough for me to formally withdraw my offer if I'm not satisfied (or allow me to reduce the offer) – or do I need to be more specific – like "Pending *Successful* Building Inspection" (still vague, but words to that effect)?
Just wondering what others do/recommendations?
The property is in NSW if that makes any difference.
Cheers,
LGIt will depend if you want an easy out – what you have highlighted won't give you any recourse. The building inspection will highlight the issues or potential issues so you will need to frame your 'out clause' to cover the unsatisfactory outcome of such an inspection eg: 'building defects not disclosed by the vendor or obvious to the purchaser and discovered in the course of a building inspection to be rectified by vendor prior to completion'.
"A building/pest inspection satisfactory to the buyer" has always covered it for me
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