Hi,
We noticed a house that has just come onto the market here in Adelaide and jumped at it as we think they are selling it under value and its what we've been looking for.
Anyway we put an offer in but the real estate agent wanted to put our offer on a contract which is fine with us but I have a few questions as I think we may have stuffed up.
-Is the contract only binding if the vendor signs both copies (ie mine and theirs) or do they only have to sign their copy.
-We asked for the contract to be subject to finance and the real estate agent filled out the appropriate details. but when it came to signing and she was crossing out the non applicable conditions she crossed out the finance clause (by mistake?). So we went ahead and initialed everywhere she said and then signed the contract. Does this mean that the contract is NOT subject to finance? I think it does.
-So if it isn't subject to finance we obviously want to get out of the contract. We have a 2 day cooling of period but if the vendor hasn't signed the contract yet is it just a matter of ripping up the original contracts and completing new ones? If we do have to act on the cooling off period how do we go about this, is it a matter of writing a letter or do we have to go through a solicitor?
Your help will be greatly appreciated as I'm feeling kind of stupid at the moment.
Thanks
Pablo.
We noticed a house that has just come onto the market here in Adelaide and jumped at it as we think they are selling it under value and its what we've been looking for.
Anyway we put an offer in but the real estate agent wanted to put our offer on a contract which is fine with us but I have a few questions as I think we may have stuffed up.
-Is the contract only binding if the vendor signs both copies (ie mine and theirs) or do they only have to sign their copy.
-We asked for the contract to be subject to finance and the real estate agent filled out the appropriate details. but when it came to signing and she was crossing out the non applicable conditions she crossed out the finance clause (by mistake?). So we went ahead and initialed everywhere she said and then signed the contract. Does this mean that the contract is NOT subject to finance? I think it does.
-So if it isn't subject to finance we obviously want to get out of the contract. We have a 2 day cooling of period but if the vendor hasn't signed the contract yet is it just a matter of ripping up the original contracts and completing new ones? If we do have to act on the cooling off period how do we go about this, is it a matter of writing a letter or do we have to go through a solicitor?
Your help will be greatly appreciated as I'm feeling kind of stupid at the moment.
Thanks
Pablo.
