Mortgagee sale - building dilapidation clause

[mini2]

Should I be alarmed or it's just a standard clause for this type of sale? Thanks

 

[Propertunity]

Should I be alarmed or it's just a standard clause for this type of sale? Thanks

Please post the clause in its entirity, so we can have a read and advise.

 

[Terry_w]

Should I be alarmed or it's just a standard clause for this type of sale? Thanks

Never seen such a clause - it must really be delapidated!

 

[cu@thetop]

Commonly the mortgagee sales will have multiple pages of special conditions the net effect of which are- you buy as is and have no recourse against the bank vendor and no representations whatsoever about anything are made by the bank.
All part of the risk.

 

[mini2]

Here we go...it looks like a canned clause

 

[Terry_w]

Well, you should do a building inspection! Expect problems, but this could be a standard special condition that this solicitor just sticks in every contract regardless. Never the less you should assume the worst.

 

[Xjas]

Terry,

What does "this clause shall not merge on completion" mean?

 

[Terry_w]

Terry,

What does "this clause shall not merge on completion" mean?

This survives the contract. So if it falls down after, from problems before, your problem.