Hi all,
We just about have our finance in place, and there a few properties we’d like to look at tomorrow. Having never bought an Australian house before, (we built our PPOR), can anyone help me as to what we need to look out for and what to put on an offer if we decide to make one?
Finance-wise, the bank has approved what they will lend us and the structure but we are waiting for them to revalue the PPOR to see how much we can split out. If we can’t pull out enough for the deposit then we’ll need to pay LMI on the IP – a bit of a bummer, but not a deal breaker.
So, should we make an offer, it would be along the lines of:-
Subject to finance
Subject to building and pest inspection
Do you need to elaborate on the inspections part? I mean, should you say something along the lines of ‘subject to satisfactory building and pest inspection report results?’ or is it implied in the terms that a poor report would be grounds to pull out?
Any tips, or any normal conditions people put into offers would be greatly appreciated.
Thanks.
We just about have our finance in place, and there a few properties we’d like to look at tomorrow. Having never bought an Australian house before, (we built our PPOR), can anyone help me as to what we need to look out for and what to put on an offer if we decide to make one?
Finance-wise, the bank has approved what they will lend us and the structure but we are waiting for them to revalue the PPOR to see how much we can split out. If we can’t pull out enough for the deposit then we’ll need to pay LMI on the IP – a bit of a bummer, but not a deal breaker.
So, should we make an offer, it would be along the lines of:-
Subject to finance
Subject to building and pest inspection
Do you need to elaborate on the inspections part? I mean, should you say something along the lines of ‘subject to satisfactory building and pest inspection report results?’ or is it implied in the terms that a poor report would be grounds to pull out?
Any tips, or any normal conditions people put into offers would be greatly appreciated.
Thanks.