Hello forum members,
I'm interested to hear from people who have bought property whether you have included a Building and Pest report clause in your contract?
If you did include a clause, how was it worded?
Here is an example suggested wording from the NAB site:
The contract is conditional upon the Purchaser/s obtaining at their expense a Building Inspection Report accepted as satisfactory by them within 14 days of acceptance of this contract.
If the report is not to the purchaser?s satisfaction, the Purchaser/s may at their option, terminate this contract by written notice, supported by a copy of the report, to the vendor?s Agent prior to date of 14 days from acceptance.
Whereupon the contract shall be at the end and all monies paid hereunder shall be repaid to the Purchasers without deduction.
Anyway, I submitted an offer (but didn't get it in the end) on a place this week subject to satisfactory B&P reports. I did not include the above clause on the offer form, all I included was: "offer subject to B&P reports that are satisfactory to purchaser"
The agent called me the next day saying mine was one of the top two offers, but he was trying very, very hard to talk me out of including ANY B&P clause in the contract.
In fact, I think his manner amounted to a kind of intimidation and bullying, even trying to tell me 'he's been in the business 15 years and has never included a B&P clause in a contract.' I think that's a load of BS.
I called my conveyancer and she advised me to include it and suggested I should stand my ground or walk away from the deal.
Thoughts?
I'm interested to hear from people who have bought property whether you have included a Building and Pest report clause in your contract?
If you did include a clause, how was it worded?
Here is an example suggested wording from the NAB site:
The contract is conditional upon the Purchaser/s obtaining at their expense a Building Inspection Report accepted as satisfactory by them within 14 days of acceptance of this contract.
If the report is not to the purchaser?s satisfaction, the Purchaser/s may at their option, terminate this contract by written notice, supported by a copy of the report, to the vendor?s Agent prior to date of 14 days from acceptance.
Whereupon the contract shall be at the end and all monies paid hereunder shall be repaid to the Purchasers without deduction.
Anyway, I submitted an offer (but didn't get it in the end) on a place this week subject to satisfactory B&P reports. I did not include the above clause on the offer form, all I included was: "offer subject to B&P reports that are satisfactory to purchaser"
The agent called me the next day saying mine was one of the top two offers, but he was trying very, very hard to talk me out of including ANY B&P clause in the contract.
In fact, I think his manner amounted to a kind of intimidation and bullying, even trying to tell me 'he's been in the business 15 years and has never included a B&P clause in a contract.' I think that's a load of BS.
I called my conveyancer and she advised me to include it and suggested I should stand my ground or walk away from the deal.
Thoughts?