Standard Clauses for O&A on Dev Site

[frehnejc]

Hi,
I wish to make an offer on a property subject to a number of conditions eg DA Approval, access to site, 4 month settlement etc. Does anyone have a library of clauses that I could simply choose the ones that fit the situation? or is this something I should seek professional advise on through a lawyer. If thats the case can anyone recommend a good lawyer in Perth.

 

[geoffw]

If I was selling, I wouldn't consider an offer with a lot of limitations UNLESS the offer was very very good.

A DA approval would take some time. As a seller, I would not be prepared to wait- especially if I had to have money to the proceeds quickly.

If it's possible, try to find what the seller really neeeds. A quick settlement in return for a lower price may well suit well. If that's what they're after they wouldn't even consider one of your terms- but, they may be after a much better price with longer terms. That would depend very much on their circumstances. It would do you good to sound out the agent before paying a solicitor.

If you're looking at getting a DA, another option may be to purchase an option on the property. So you pay the seller a sum of money now for the right, but not the obligation, to buy the property in xx months time. If you choose not to go ahead within xx months time, the seller keeps the option fee and is free to sell the property. In the meantime, the seller cannot sell the property to anybody else.

It is a technique which I understand developers do use in real life.