Great post aussie..
“OUT” clauses are there for emergencies Only..and should be used wisely and with much thought into what is written.
I’ve posted what I use in the past, however, if you want the deal and at a discount..once you’ve established your due diligence and your happy, go in hard and fast and with pre-approval as well as knowledge of your ‘walk away’ price..
just my thoughts..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorOriginally posted by voigtstr:Ive got both of Steve’s books, Whats the exact wording of the sunset clause to use on a contract? I cant find it in the books?
More stuff on the voigtstr at http://users.bigpond.net.au/voigtstr
Anyone? We are going to the open home today, and I need the wording to put on the contract today
Basically the correct wording for the following gist “this offer will lapse if not signed by the vendor by (time) (date)” Does anyone have the exact wording handy? Please?
Originally posted by voigtstr:
Anyone? We are going to the open home today, and I need the wording to put on the contract todayBasically the correct wording for the following gist “this offer will lapse if not signed by the vendor by (time) (date)” Does anyone have the exact wording handy? Please?
I realise this is months too late, but we’ve used the following under the title of Timing:
This offer is valid until Friday April 21, 2006 – 5.00pm Australian Eastern Standard time
Should do the trick.
hi
based on my massive experience with 1 property I used ‘subject to Finance’, ‘subject to satisfactory building inspection report’ and ‘subject to the existing tenants signing on for 12 months’ (we knew they would as the lady was 6 months pregnant!).
all went well, the tenants did sign on and we settled on time – so far happy days!good luck! [exhappy]
Totally get how you’re feeling — buying your first place is basically a mix of “I’ve got this” and “why am I sweating?” 😅
When it comes to conditions, buyers definitely get creative. Aside from the usual subject to finance or subject to building and pest, people sometimes use:
Subject to due diligence (broad catch-all to investigate anything)
Subject to council approvals
Subject to obtaining renovation quotes
Subject to specialist inspections (structural engineer, termites, plumbing, etc.)
For a property that may have serious termite or structural issues, a “subject to building, pest, and due diligence” clause is usually the safest. It gives you room to get proper quotes, assess repair costs, and walk away if the numbers don’t stack up — without being locked in.A conveyancer or solicitor can word this properly so it protects you while still being acceptable to the seller.
Totally normal to feel that mix! Yep, people use subject to due diligence heaps — especially for older homes. It lets you check termites, repairs, and reno costs before locking in the contract. You can use experts from ServiceTasker to know the standard details about the work and clauses.
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