Low ball
- Thread starter de nero
- Start date
De nero.
This is what I put into my contracts.
The vendor and purchaser agree to a pre purchase building/pest inspection to be conducted during the cooling off period by a suitably qualified and insured professional at the purchasers expense.
If you become the successful buyer the vendor's would have agreed to allow you to conduct your building inspection during the cooling off period. If you write a contract subject to a satisfactory building inspection who determines what is satisfactory, it all comes down to interpretation of the building report.... too risky. At least if you are unsatisfied with the building report and cant re negotiate you can always cool off and walk away.
Best to ask people you know who have used a good building inspector before.
If you are buying in Adelaide, you don't need a reason to cool off and therfore do not need a clause in the contract to conduct an inspection in the cooling off period.
I think your stumbling block here would not be the clause or finding a building inspector it would be actually getting low ball offers accepted in a hot market!
All the best!
I think your stumbling block here would not be the clause or finding a building inspector it would be actually getting low ball offers accepted in a hot market!
All the best!
True. But we put the clause in so the Vendor has agreed to allow the purchaser access to conduct the inspection during the cooling off period because without the agreement the Vendor doesn't have to allow the purchaser access.
We've never had a problem getting access for a building inspection, and the last one was during the cooling off period (in Queensland).
Why would the vendor object? As a vendor I would want to do everything to keep the contract moving smoothly, and the sooner inspections are done the better.
Marg
Why would the vendor object? As a vendor I would want to do everything to keep the contract moving smoothly, and the sooner inspections are done the better.
Marg
When I first started in Real Estate I had a building inspector conduct an inspection for a buyer, he ended up 1. causing allot of damage, 2. not being qualified to due the job and 3. not being insured. My vendors weren't keen to have anymore inspectors through their property again and probably never again.
So not all vendor's agree to have a building inspector through their property. The purchaser cant just assume that they are entitled to a building inspection, thats why I suggest to write it in the contract agreeing to an inspection being conducted. As a purchaser you may really want to buy the home and may not wish to cool off even if you cant have an inspection done, if you write it in the contract they cant refuse.
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