a quick clarification would be apprecaited,
I usually offer unconditional contracts, so dont worry about cooling offs and clauses,
however one property im keen to buy, not sure of interest but it might be fair,
property is a ex comission house in NSW, that needs a mega load of work, the work required is set out in the ad, the agent who is pretty honest about these things has told me the work required (im quite chummy with the agent), all is good, however, there is a one unknown section to the house (that even the agent is not aware of) , if its minor work required there, thats fine, the only thing that wont work is if the entire section has to be replaced,
vendors wont accept a BP clause, as expected, as the house is very run down
we've semi agreed on a price and almost the terms, im wanting to put it under contract, and have a way out, finance clause might be a way but I dont think finance clause will be accepted, my understaninding is that hte s66w form that I will sign waives the cooling off period, essentially making the contract completely unconditional upon signing
is this correct?
the only other way I think about approaching this is to, make an offer, and in the 24 hours the vendors take to get everything sorted, the builder will get back to me on the extent of hte damage, but thats still risky
im trying to have a get out of jail option, plus I dont want to be relying on a builders schedule. Naturally Im not going to use the existing damage in a reduction of price or terms in anyway, due to the extent of the damage
any feedback would be apprecaited
I usually offer unconditional contracts, so dont worry about cooling offs and clauses,
however one property im keen to buy, not sure of interest but it might be fair,
property is a ex comission house in NSW, that needs a mega load of work, the work required is set out in the ad, the agent who is pretty honest about these things has told me the work required (im quite chummy with the agent), all is good, however, there is a one unknown section to the house (that even the agent is not aware of) , if its minor work required there, thats fine, the only thing that wont work is if the entire section has to be replaced,
vendors wont accept a BP clause, as expected, as the house is very run down
we've semi agreed on a price and almost the terms, im wanting to put it under contract, and have a way out, finance clause might be a way but I dont think finance clause will be accepted, my understaninding is that hte s66w form that I will sign waives the cooling off period, essentially making the contract completely unconditional upon signing
is this correct?
the only other way I think about approaching this is to, make an offer, and in the 24 hours the vendors take to get everything sorted, the builder will get back to me on the extent of hte damage, but thats still risky
im trying to have a get out of jail option, plus I dont want to be relying on a builders schedule. Naturally Im not going to use the existing damage in a reduction of price or terms in anyway, due to the extent of the damage
any feedback would be apprecaited
