PoppetUK

Hi there,

We are currently looking at houses to buy. Can someone explain to me how it all works. The market seems to have slowed and quite a few are dropping prices at the moment so I am in no rush but obviously when we do see "the one" we both have to sign the offer which I understand is binding.

Where does the survey come into this? How to we know we are not buying something that is falling down!!!

I know its silly but I don't trust the agents here.

Thanks

Poppet UK

kiwi_child

You might find some useful info at this site. It's the real estate industry in WA's authority.

http://reiwa.com/

Also, there are Perth real estate segments you can find out about and listen to over the net via www.6pr.com.au I know one is during the week on the Gary Shannon show, and another on Saturday morning's here

You should be able to email hosts questions and listen in once you have the time difference sorted. Email addresses for the hosts are at the 6pr website.

Hope that helps

ub40fan

Hi Poppet

We recently bought a house here and when you sign the contract you can make settlement subject to certain things. Ours was subject to the sale of our uk house, finance and a survey being done. If you get a good real estate agent they will advise you, ours certainly did.

Shirley

Bobcat

Not all Agents are the same......... but it is wise to be wary. Believe it or not; some of us are trustworthy!

At the moment you are in the driver's seat as it is a buyer's market for sure.

Be very careful before you sign anything; no cooling off period over here in WA.

If your offer is subject to finance......... make absolutely sure your offer states that.

White ants are active throughout WA; make sure you insert a white ant clause in your offer.

I include the following clause as an annexure on all my O & A's. It also covers good working order too.

TIMBER PEST INSPECTION :

This offer is conditional upon a Timber Pest Inspection Report ‘AS 4349.3’ being obtained prior to settlement and at the expense of the BUYER/S. Such a report should state that the property within the boundaries of the property or within 50 metres of the main dwelling, whichever is the lesser, is free from live termite activity as at the date of inspection and/or free from visible structural damage from previous termite activity that would render the main building unsafe.

Should the certificate disclose live termite activity and/or structural damage from previous termite activity and should the SELLER at his/her own expense be unwilling to eradicate, remedy, or rectify such termite activity or structural damage; then the BUYER/S may at any time prior to settlement give notice in writing to terminate the Contract whereupon the Contract shall be at an end and all monies paid hereunder shall be repaid to the BUYER without deduction.

If the BUYER/S do not terminate the contract then he/she shall be deemed to have waived the benefit of this timber pest inspection clause.

The buyer authorizes JOHN MASON REAL ESTATE to instruct a reputable pest control firm to provide inspection and subsequent report.

GOOD WORKING ORDER:
The SELLER/S warrant that all electrical, gas and plumbing (inclusive of all swimming pool equipment and /or reticulation if applicable) shall be in good working order at settlement.

At settlement date should any repairs required to meet this condition not have been affected; the SELLER/S authorise their Settlement Agent to withhold monies from the settlement proceeds and to pay for such repairs as required.

I attach other annexures to my O & A's to cover building inspections (surveyor), such a clause must be written up to protect the buyer. It can't be any Tom, Dick , or Harry who carry out the inspection.

Could go on forever. By all means give me a call if you need further sound professional advice, no charge.

Good luck with your endeavours to find a suitable property.