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From: Trina Blum
Hi,
Could the experienced investors of this forum perhaps add to this post the clauses/subject to... they recommend be added to an IP offer of purchase so that us newbies don't get caught out.
1. Such as if I had finance pre-arranged up to a certain amount and put in an offer to purchase should a clause of "subject to obtaining finance" still be added?
2. I know its a good idea to get a building inspection done on the property but how should it be worded?
Any other clauses you can suggest would be of help.
Specific to my situation can someone tell me if I put an offer in on a property that needs some work done in the shower (water has leaked through to the hall and bedroom wall - which is due to the grouting I was told by the RE agent and would only cost approx $500 to fix) what sort of subject to clause should I put in so that if it the building inspection shows it would cost a lot to fix I can get out of the deal? If I did buy and fix this would be classed as a repair would it not and be claimable in next year's tax?
Trina
Hi,
Could the experienced investors of this forum perhaps add to this post the clauses/subject to... they recommend be added to an IP offer of purchase so that us newbies don't get caught out.
1. Such as if I had finance pre-arranged up to a certain amount and put in an offer to purchase should a clause of "subject to obtaining finance" still be added?
2. I know its a good idea to get a building inspection done on the property but how should it be worded?
Any other clauses you can suggest would be of help.
Specific to my situation can someone tell me if I put an offer in on a property that needs some work done in the shower (water has leaked through to the hall and bedroom wall - which is due to the grouting I was told by the RE agent and would only cost approx $500 to fix) what sort of subject to clause should I put in so that if it the building inspection shows it would cost a lot to fix I can get out of the deal? If I did buy and fix this would be classed as a repair would it not and be claimable in next year's tax?
Trina
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