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The Contract has obviously already been signed so there is no point talking about adding special condiitons now.
Most residential contracts are subject to the purchaser obtaining a satisfactory pest and building inspection
If during that time they have come to you and said we want this, this, this and this fixed prior to settlement.
You have every right to say we will get it fixed prior to settlement on the conditon the cost of these rectifications are deducted from the purchase price at settlement.
It really depends on what the issues are that they are raising…obviously without this information its hard to give accurate advice.
But if the purchaser wasn’t satisfied, they could terminate based on that clause (assuming it’s there)
At the end of the day, it’s all about being “reasonable”. From working as a conveyancer for a number of years, this would have to be the most common issue raised when getting close to settlement. I recall a client refusing to settle because there was dog poo on the front and back lawn. Another client refused to settle because the kitchen cupboards and shelves hadn’t been cleaned.
Apart from the fact that this is not an option and you can’t get out of a contract because of a bit of rubbish…If however a fence was damaged or there was a hole in the wall, settlement may be extended or purchase price negotiated but you cannot get out of a contract on those basis unless the vendor was stupid enough to agree to a special conditon in the contract. Highly Unlikely.
At the end of the day, you need to look at the facts, do i really want this house? yes, well bite your tongue and deal with it. It sounds harsh but the reality is there is nothing you can do….
In answer to your question, if you do not settle, then yes you are in breach of the contract and you will lose your deposit. The vendor also has the option to sue for any other costs.
Re: the renting prior to settlement. The vendor was actually being very generous in allowing possession prior to settlement as this can be very risky and most solicitors/conveyancers will advise against in, so in reality he has every right to lay down whatever conditions he likes in regards to that early possession.
It is very unfair, but unfortunately this is the case.
