All Topics / Legal & Accounting / NSW Conditional Clauses on Deposit

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  • Profile photo of salockersalocker
    Member
    @salocker
    Join Date: 2005
    Post Count: 14
    January 15, 2007 - 11:18 am

    I am very close to making an offer for a property in NSW with a deposit.

    What clauses have property investors used when they have made an offer before a building report has been carried out and finance has been approved?

    X-references to published material is welcomed……

    Thanks in advance
    Salocker

    Profile photo of mathewc73mathewc73
    Participant
    @mathewc73
    Join Date: 2005
    Post Count: 241
    January 16, 2007 - 2:24 am

    Hi,
    You can add subject to finance. Some may accept it. But you have 5 days cooling off. So you get your building report and pest report done in this time. Worst case you lose your .75% deposit.

    I think its best to offer low, add in no conditions at all, add in any sweeteners to entice acceptance of the low offer. And then get every inspection done within your cooling off period. That way the .75% is like your option to buy.

    Hope this helps,
    Mat

    Mathew
    http://www.arrttt.com
    Custom Oil Portraits

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