windsordave

We're just about to put an offer on a house in Queensland (hoorah) and was wondering if anyone has added special conditions of contract on to their contract and if so what wording did you use.

Thanks!

Dave

acbh2

We put an offer in and specified that it had to be:

* "subject to vacant possesion" (there's a tenant in it)

*"subject to satisfactory pest and building inspection"

*"subject to finance" ( a get out claus, as you can say "sorry we never got finance", even if you know you have the money in the bank,its thinking time )

Good Luck with buying

Axx

walaj

for places (in NSW) that we have had contract sorted before auction, we have no so much added terms but asked for certain things to be changed or deleted - this was all done through our solicitor to the vendors solicitor. He/She should be able to pick stuff up, but it would be good for you read through it, especially the special conditions.

Main one we ask is 5% (rather than 10%) deposit, ensure that approriate extras are included (like pool equip, blinds etc). As it sounds like you are not going to auction, then subject to pest report (being specific for results you would withdraw your offer). Contact your solicitor and ask their advice too.

You will find the contract is biased in favour of the vendor (eg extra costs/interest to pay the vendor if you don't settle on time, but little to benefit you should the vendor delay things)

All the best

NickyC

Don't think it's as easy as that. Some vendors will want to see written evidence from a bank/finance company showing that you've been knocked back for finance before they will accept it as reason for getting out of a contract.

One of the advantages of buying a house here is that it IS hard to get out the deal once you've signed up - it stops people pulling out for the flimsiest of reasons as is common in the UK. I suggest that you're really sure that you want a place before you put that offer in.

Suni&Jay

In Qld if you say subject to satisfactory fiance approval you can still pull out if you are not happy with the fiance terms, ie interest rate that the bank want to charge you

acbh2

Yes suni&jay are quite correct finance does not tie you to a deal so
I stand by what I said before.

comet555

You can also add subject to broadband, although it is up to you to check that out. Unfortunately even if you're told you can get it sometimes you don't know for sure until you move in.

But it doesn't hurt to throw that on there if it's important to you.

comet555

You could also ask for the carpets (if any) to be professional cleaned and for a receipt to be provided. We had that condition on our house in Canada.

discobay

That will never work out. Telstra are notorious for lying through their teeth about the availability of cable/adsl broadband. Just this week I was told on the phone that adsl was available even though their website coverage locater inferred that it was not.

Vim Fuego

We should have put in a condition stopping the scum Estate Agent nicking all the eggs while we were looking after the chickens them prior to moving in (at the previous owner's request).

Taylor And Cook ... pond-dwelling shysters of the lowest order.

comet555

That was my point. But it doesn't hurt to put it in therre so you have time to check it out in more detail. I still wouldn't trust what you're told, but at least if you find out the property can't get it then you have options.

tabby

I would say to put "subject to buyers finance" as if you just put subject to finance and your pull out because you can't approved with your choice of bank you can be forced to apply to other bank ...rare but has happened

Martin

Centurion

Just a thought but you should remember that although you can put the offer subject to pretty much anything you like, the vendor does not have to accept that and can take another more attractive and less conditional offer.

Our vendor for the land made it clear that he would knock back any offer that was subject to anything at all and in fact did.

nick72

Thats true, you just need to ask a friendly bank person to do the letter for you.

Also worth noting that if you just put CBA, ANZ or Westpac that means you should try every branch to get the finance. Put down a Bank and Branch !

Nick

NickyC

One of the things that's great about buying a house here in Australia is that sales rarely fall through because people pull out at the last minute for no real reason. Look at the long thread about people whingeing about their buyers in the UK doing just that - it's a big problem with the house selling system in the UK and the one that upsets most people.

People who use false 'finance' reasons for pulling out of a contract are no different to these UK buyers that everyone is whingeing about. I'd have thought the last thing that anyone wants is for the Australian system to degenerate to the hopeless system that commonplace in the UK - which is exactly what will happen if every buyer could use a finance clause to get out of a contract at the last minute.