PT_Bear in the previous thread mentioned one of the standard clauses they (he/she) uses on their contracts is to make the sale subject to independent valuation to at least sale price.
I thought this would be a good question to ask about what kind of other special conditions are useful including in a contract of sale.
When I used to buy land, one of my special conditions was a satisfactory soil test. One block we signed contracts on (residential block in Bayswater) turned out to have contained an old farm dam that had been back-filled with concrete, rubber tyres, car bodies, timber, basically all sorts of crap. Right in the middle of the block (ie. where you'd put a house).
It is also worth discussing these special conditions in the context of how the seller might take them. Some sellers might get "scared away" but excessive conditions on a contract of sale.
Does anyone use a pre-prepared set of conditions that is simply annexed to the contract (which is what I did when we bought the land for our PPOR - the RE nearly had a fit)?
I thought this would be a good question to ask about what kind of other special conditions are useful including in a contract of sale.
When I used to buy land, one of my special conditions was a satisfactory soil test. One block we signed contracts on (residential block in Bayswater) turned out to have contained an old farm dam that had been back-filled with concrete, rubber tyres, car bodies, timber, basically all sorts of crap. Right in the middle of the block (ie. where you'd put a house).
It is also worth discussing these special conditions in the context of how the seller might take them. Some sellers might get "scared away" but excessive conditions on a contract of sale.
Does anyone use a pre-prepared set of conditions that is simply annexed to the contract (which is what I did when we bought the land for our PPOR - the RE nearly had a fit)?