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If you mean things that are usually relatively trivial, and which you're prepared to miss out on, such as a day or two pre-settlement access, or a clause about when the deposit will be released, then this tactic might be OK. (And I assume this is what BV is referring to.)If you want to add more conditions you can negotiate those later after your offer has been accepted.
From: John Citizen
To:
Date:
RE: Property: <address of the property>
I submit this formal offer to purchase your property on the following conditions:
Price: $XXX XXX.00 GST inclusive
Deposit: $XXXX.00 payable as deposit bond after 7 days of acceptance
Settlement: 30 days from date of contract
Other conditions:
Subject to satisfactory Building Inspection within 14 days
Subject to satisfactory Pesticide Inspection within 14 days
Subject to finance approval with St. George Bank within 21 days of offer acceptance
The property in this contract will be offered as vacant possession
Please contact me on Ph XXXXXXXXXX if you wish to proceed.
should be Pest Inspection - you are having it inspected for pests not pesticides.satisfactory Pesticide Inspection
should say Subject to finance approval with St. George Bank on terms suitable to the purchaserSubject to finance approval with St. George Bank
when you earlier said thatThe property in this contract will be offered as vacant possession
and you are offering settlement terms ofthe property is currently occupied with tenants and their contract ends in November.
- the dates do not add up30 days from date of contract
- the dates do not add up
Thanks PropertunitySo what is the best way to say that settlement will happen when tenants will leave the property?
The only addition to that is I suggest you remove 'St George' from the letter. If St George says no, I think you'd want the abilty to get a loan from someone else without the deal falling through.
OTOH if you don't specify the lender a vendor can make you run around to demonstrate that you can't get finance approval from anyone, which could be a bit laborious.
If you specify St George then all you need to show is a letter from St George to get out of it if you can't get finance. If you get finance from someone else you can just waive the clause as it's to your benefit rather than the vendor's...
One more question...Do I really need to do building inspection and pest control if house is still under builder's warranty ( just 2 years old ) ?
Thanks.