collybabe24

Hi guys we accepted an offer on our house saturday gone and signed for a 30 day contract so settlement is 13th august, today the buyers are having a pest inspection done, my question is at what point can they pull out, they are cash buyers so dont need to arrange finance etc but im concerned knowing my luck that they will pull out as ive just booked our flights back to the uk, would really help if someone can put me at ease and explain as the real state guy just keeps saying dont worry its all good but everyone is asking me wen is it unconditional and i have no clue

asprilla

Normally a property goes unconditional when (a) finance is approved & (b) all inspections are satisfactory. The buyer then advises the seller that (a) and (b) are satisfied...and it is unconditional.

Some contracts (cash buyers) don't have a finance clause. Others don't have any clauses at all. You need to ask your real estate agent exactly what clauses are in the contract.

Most likely, your contract will say "subject to a building inspection and pest inspection.". If that is the case, it will become unconditional when the buyer advises the sellers agent that the results of these inspections were satisfactory.


don't quote me on the above though. That's just my understanding of how it works...

collybabe24

ok thanks

slipshot

Do you have frequent (annual) pest inspections done or was this news to you? If you have pest treatment regualarly then you should be fine. If you have not had any done and it's a pole home, for example, you could need to do some work before they accept to buy....

collybabe24

we have only had the house 6 months and have had it treated twice, it is a queenslander though

slipshot

Ok - tha chnaces are you will be fine. They are looking for those houses that have not been treated and have hidden termites nests etc. Given you have treated it, and unless anything large has ocurred, I'm sure you'll be fine...

collybabe24

Thanks