Do any of you bush property lawyers out there have any feedback on seller termination clause. I have a property on the market that is up for auction in early July. I may get an offer prior and I would obviously want it to be unconditional or at least going unconditional before the auction date.
So how can I accept an offer with a condition that I can terminate it prior to an unconditional date for my convenience, ie if I get a better offer or terms then I terminate and lock in the better one ?
You could allow them to have a finance clause and hten an addition clause that either party could back out before the finance is granted.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Thanks, that is a good idea and doesn’t really lessen their obligation either. The buyer can always wriggle out on finance anyway. So this way a fairly innocuous clause allows me to bale if I get a better offer.
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