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Hi,
I am based in Brisbane and I am considering the strategy of buying a property to renovate/add a room before settlement. Optimally I will also find a buyer prior to settlement. I would like to get some feedback on possible risks:
1. What is the risk of the vendor breaking the contract and refuse to sell after I have renovated? What can I do about it?
2. What clauses should I put in the contract to minimize this risk?
3. Has this scenario happened to anyone?
4. What can I do if the contractors don’t finish the job on time?
All thoughts are welcome.
Cheers /HoBe
[rambo2]HoBe
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