Hi all,
I am looking at purchasing a new IP and was wondering if
anyone had any extra conditions they use on the contract of sale over and above the usual subject to finance, building and pest inspections.
cheers,
Ross
Hi Ross,
Yes it happens a lot with Contracts of Sale hence the importance of having a solicitor review the COS before you purchase.
Did you have a specific question or concern because there a lots of different variations.
Regards
Shahin
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
Email Me | Phone MeResidential and Commercial Brokerage
Hi Ross,
One of Steve's tips from his first book was to put a sunset clause on the offer form – ie Expires Friday, 4pm. That way, you can try and force the vendor to respond quicker and accept the offer.
Otherwise, I think you've covered everything that I'd be including in the contract for purchasing a single dwelling with no subdivision potential. If you were looking to subdivide, then I'd be including "Subject to satisfactory soil test" as well, and have the engineering firm that is used by your builder to go and perform a soil test in the area where you'd be building the second dwelling and report back.
Hope this helps.
Kevin.
Ross.Poulter wrote:Hi all,I am looking at purchasing a new IP and was wondering if
anyone had any extra conditions they use on the contract of sale over and above the usual subject to finance, building and pest inspections.
cheers,
Ross
You can write anything into a contract. Is there something specific that you're trying to achieve?
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Remember Ross any Condition needs to be accepted by the Vendor.
I am a great believer in trying to combine conditions under a Due diligence condition rather than have 101 individual conditions.
As long as your Solicitor ensures you are well covered then try and keep it simple for the vendor to accept.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
You can add any reasonable conditions and clauses beside general conditions and terms of a contract. I recommend you to consult with a lawyer if you are unable to draft it yourself.
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