contract gurus....

We are making an offer on a place subject to sale of our house and want to check I have everything right. I have filled in the agents expression of interest form after advice from solicitor and discussion of all points with the agent. The offer we are making is at the asking price. There have been no other offers. We expect our house to sell okay in the coming weeks, well priced, well presented. Other houses near us selling in 1 to 3 weeks. We'd rather put the offer in subject to sale than wait until we sell and risk missing out. At the same time, we are realistic and know someone may come in with a better offer and we may miss out based on the 48hr clause.

Subject to getting contract on our house within 45 days of signed contract at a price acceptable to us
Building/pest/finance to be completed to our satisfaction within 14 days of our sale going unconditional
Settlement to be contemporaneous.
$1000 cash on acceptance of offer, 10% deposit when our sale goes unconditional.

Has anyone else had a successful purchase/sale done this way? Any traps I need to watch out for?
Thanks for reading, a thousand thanks if you reply! !
 
Very hard to get this accepted I would think. You will also be under pressure to sell quickly.

Why not just buy before you sell? Get a large loan and pay it down upon the sale.
 
Well, they were happy with the conditions we've presented but would like a higher offer. They haven't countered with a figure, I guess they don't have to as it was am expression of interest? We'll have another think about the numbers and put another offer to them on Friday.
 
As Terry W said, look at going ahead with the purchase. For a certain sale, they may be happy with a longer settlement. Then you may be able to sell and not need the reserve finance you will need in place.
 
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