Forum Replies Created
- Results1 wrote:I agree with Richard on the cooling off period, you will lose a few bucks, however if you have also left the building and pest inspection part of the contract – fourth one down on page 6 of the the contract if a unit, page four if a house – or you haven't inserted a special condition clause regarding B&P inspections then not much you can do about it. It is my understanding if all three parts of the B&P clause are not filled in then a seller could really enforce the contract.
I always advise my clients to wait until the finance is approved before getting the B&P done, simply because at around $400 you don't want to outlay the money if your finance is not approved.
Yeah I dont want to use the cooling off period just making sure that I will be able to get out of the contract if the building inspection shows up too many problems. We did fill out the inspection clause in the contract with 21 days and inspector of my choice.
I dont think there will be any serious problems, just want to use the report to negotiate a better price. If this is the case, is the original contract terminated and new one made up if the vendor agrees to new terms after the building inspection is done or are the new terms written into the original contract?
I am worried that if I leave the building inspection for the 21 days written in the contract that I wont have enough time to negotiate a new price, is this the case or will a new contract start the process again?
