Hi Guys ,
Please your advice regarding the contract of sale .
We've inspected a property today ; the agent specified that they've received an offer and if we are interested to secure this property we have to make an offer in writing immediately . Inspection have taken place between 1 - 1:30 PM and he was interested to sign the contract at 2PM .
I am not keen to sign anything in a hurry , so we arrived at 2PM to his office and requested to show the contract of sale .
The contract is just a standard contract of Sale of Real Estate from REIV , however there is a clause specifying :
1) Goods ( list or attach schedule) : All fixtures and fittings as inspected including all fixed floor coverings, all electrical fittings , spa and dishwasher .
Obviously during inspection you don't have time to check all electrical fittings etc
Let' say ducted heating system is not operational . Is there is any way to protect yourself ?
2) We would like to make an offer without subject to finance .
Usually I specify " subject to pest and building inspection to our satisfaction".
The agent has advised that they have " a standard" addendum which covers building and pest inspection .
I've enclosed the doc for your perusal .
My concern is regarding definition of " a major structural defect " . Who will decide if it's a major or minor structural defect ?
In addition , the statement " if the pest inspection report identifies an active pest infestation that compromises the structural integrity of the primary building " appears to be quite problematic . What if there is no active pest infestation , however they've had pests previously ?
Please your advice per the above.
I haven't signed anything prior to clarify these issues .
Kind Regards
gprp
Please your advice regarding the contract of sale .
We've inspected a property today ; the agent specified that they've received an offer and if we are interested to secure this property we have to make an offer in writing immediately . Inspection have taken place between 1 - 1:30 PM and he was interested to sign the contract at 2PM .
I am not keen to sign anything in a hurry , so we arrived at 2PM to his office and requested to show the contract of sale .
The contract is just a standard contract of Sale of Real Estate from REIV , however there is a clause specifying :
1) Goods ( list or attach schedule) : All fixtures and fittings as inspected including all fixed floor coverings, all electrical fittings , spa and dishwasher .
Obviously during inspection you don't have time to check all electrical fittings etc
Let' say ducted heating system is not operational . Is there is any way to protect yourself ?
2) We would like to make an offer without subject to finance .
Usually I specify " subject to pest and building inspection to our satisfaction".
The agent has advised that they have " a standard" addendum which covers building and pest inspection .
I've enclosed the doc for your perusal .
My concern is regarding definition of " a major structural defect " . Who will decide if it's a major or minor structural defect ?
In addition , the statement " if the pest inspection report identifies an active pest infestation that compromises the structural integrity of the primary building " appears to be quite problematic . What if there is no active pest infestation , however they've had pests previously ?
Please your advice per the above.
I haven't signed anything prior to clarify these issues .
Kind Regards
gprp