Beware when buying a house...
Jul 21st 2004, 9:52 am
#1
Forum Regular
Thread Starter
Joined: Feb 2003
Location: Sunshine Coast Queensland
Posts: 242
Beware when buying a house...
Hi all,
I spotted a nice house on my validation trip so put in an offer, got accepted, paid deposit and came back to UK.
One week before settlement was due my Aus solicitor got the search details from the local council "Illegal notices" for the garage (bit knackered, gonna knock it down anyway) and a verandah extension round the side of the house.
The seller had to get a quote for the verandah to be brought up to council standards (the house is on stilts) and let me off that amount.
All this made the settlement a week late, but that was ok.
The seller then gave me three working days notice to make the payment on a certain date. Because the bank cannot transfer the money that quickly the seller has asked for $500 compensation and my solicitor says the law is on his side!!!
The moral: beware if ANY reason makes your settlement payment late, even if it is the seller's fault (as in my case) you may have to cough up for it. Also watch out for electronic transfer of money from The Australia Bank and Esanda Investments, as they hang on for 3 or 4 days like a UK bank would. Grrrr
Phil
I spotted a nice house on my validation trip so put in an offer, got accepted, paid deposit and came back to UK.
One week before settlement was due my Aus solicitor got the search details from the local council "Illegal notices" for the garage (bit knackered, gonna knock it down anyway) and a verandah extension round the side of the house.
The seller had to get a quote for the verandah to be brought up to council standards (the house is on stilts) and let me off that amount.
All this made the settlement a week late, but that was ok.
The seller then gave me three working days notice to make the payment on a certain date. Because the bank cannot transfer the money that quickly the seller has asked for $500 compensation and my solicitor says the law is on his side!!!
The moral: beware if ANY reason makes your settlement payment late, even if it is the seller's fault (as in my case) you may have to cough up for it. Also watch out for electronic transfer of money from The Australia Bank and Esanda Investments, as they hang on for 3 or 4 days like a UK bank would. Grrrr
Phil
Jul 21st 2004, 9:58 am
#2
Account Closed
Joined: Jul 2004
Posts: 4,235
Re: Beware when buying a house...
Originally posted by philj6969
Hi all,
I spotted a nice house on my validation trip so put in an offer, got accepted, paid deposit and came back to UK.
One week before settlement was due my Aus solicitor got the search details from the local council "Illegal notices" for the garage (bit knackered, gonna knock it down anyway) and a verandah extension round the side of the house.
The seller had to get a quote for the verandah to be brought up to council standards (the house is on stilts) and let me off that amount.
All this made the settlement a week late, but that was ok.
The seller then gave me three working days notice to make the payment on a certain date. Because the bank cannot transfer the money that quickly the seller has asked for $500 compensation and my solicitor says the law is on his side!!!
The moral: beware if ANY reason makes your settlement payment late, even if it is the seller's fault (as in my case) you may have to cough up for it. Also watch out for electronic transfer of money from The Australia Bank and Esanda Investments, as they hang on for 3 or 4 days like a UK bank would. Grrrr
Phil
Hi all,
I spotted a nice house on my validation trip so put in an offer, got accepted, paid deposit and came back to UK.
One week before settlement was due my Aus solicitor got the search details from the local council "Illegal notices" for the garage (bit knackered, gonna knock it down anyway) and a verandah extension round the side of the house.
The seller had to get a quote for the verandah to be brought up to council standards (the house is on stilts) and let me off that amount.
All this made the settlement a week late, but that was ok.
The seller then gave me three working days notice to make the payment on a certain date. Because the bank cannot transfer the money that quickly the seller has asked for $500 compensation and my solicitor says the law is on his side!!!
The moral: beware if ANY reason makes your settlement payment late, even if it is the seller's fault (as in my case) you may have to cough up for it. Also watch out for electronic transfer of money from The Australia Bank and Esanda Investments, as they hang on for 3 or 4 days like a UK bank would. Grrrr
Phil
Now, I am not an expert on buying houses anywhere in the world, but my Mum has bought loads of property. I think you can put in the contract a "subject to searches" clause....I dont know if that would cover this kind of eventuality...but its definatly good info to keep in mind...Thanks
Jul 21st 2004, 10:21 am
#3
BE Enthusiast
Joined: Jun 2003
Location: Perth, Since Jan 05
Posts: 708
Re: Beware when buying a house...
Originally posted by philj6969
Hi all,
I spotted a nice house on my validation trip so put in an offer, got accepted, paid deposit and came back to UK.
One week before settlement was due my Aus solicitor got the search details from the local council "Illegal notices" for the garage (bit knackered, gonna knock it down anyway) and a verandah extension round the side of the house.
The seller had to get a quote for the verandah to be brought up to council standards (the house is on stilts) and let me off that amount.
All this made the settlement a week late, but that was ok.
The seller then gave me three working days notice to make the payment on a certain date. Because the bank cannot transfer the money that quickly the seller has asked for $500 compensation and my solicitor says the law is on his side!!!
The moral: beware if ANY reason makes your settlement payment late, even if it is the seller's fault (as in my case) you may have to cough up for it. Also watch out for electronic transfer of money from The Australia Bank and Esanda Investments, as they hang on for 3 or 4 days like a UK bank would. Grrrr
Phil
Hi all,
I spotted a nice house on my validation trip so put in an offer, got accepted, paid deposit and came back to UK.
One week before settlement was due my Aus solicitor got the search details from the local council "Illegal notices" for the garage (bit knackered, gonna knock it down anyway) and a verandah extension round the side of the house.
The seller had to get a quote for the verandah to be brought up to council standards (the house is on stilts) and let me off that amount.
All this made the settlement a week late, but that was ok.
The seller then gave me three working days notice to make the payment on a certain date. Because the bank cannot transfer the money that quickly the seller has asked for $500 compensation and my solicitor says the law is on his side!!!
The moral: beware if ANY reason makes your settlement payment late, even if it is the seller's fault (as in my case) you may have to cough up for it. Also watch out for electronic transfer of money from The Australia Bank and Esanda Investments, as they hang on for 3 or 4 days like a UK bank would. Grrrr
Phil
You can add onto the back of the contracts any clauses you wish to constitute your offer on a property. The house we have bought doesnt have a pool, pergola, etc, but if it did I would have put, subject to pool inspection, subject to council approved pergola, etc. Put anything down you are may be worried about - you can always waive the clause later if it seems you have been too picky. This way it covers your back though
Dave
Jul 22nd 2004, 3:18 am
#4
Brain Drained
Joined: Aug 2003
Posts: 1,882
I'd also add
If your house has a septic tank then put in a clause that they will empty it and clean the grease trap. Otherwise you could be in for a big suprise :scared:
Also if it has a pool put in that you want it handed over in a usable condition.
If your house has a septic tank then put in a clause that they will empty it and clean the grease trap. Otherwise you could be in for a big suprise :scared:
Also if it has a pool put in that you want it handed over in a usable condition.
