Forums / Getting Technical / Legal & Accounting / Contract of sale – Queensland

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  • Profile photo of jcls79jcls79
    Member
    @jcls79
    Join Date: 2004
    Post Count: 88

    I am purchasing a 2 bedroom unit in Beenleigh QLD and in my written offer, there is a subject to clause which says the offer is subject to:

    “vendor presenting with all rental agreement to my satisfaction”

    The vendor accepted my offer but now the agent is saying that they won’t release the reatal agreements until the contract becomes unconditional…

    what the….? has anybody have similar experience, any help is much appreciated.

    Cheers
    john

    Want to join financial independence before 31 years old, currently 25

    Profile photo of debtdoggdebtdogg
    Member
    @debtdogg
    Join Date: 2004
    Post Count: 136

    Hi John

    For starters you hold the aces. The contract does not become unconditional until this condition is satified. it is pretty broad clause though because it does not say when he has to produce them so provided he does so before settlement he complies.

    obviously if you are using a solicitor get him to push them along.

    I would make it clear at some point (and well before settlement happens) that if there is any problem with the rental agreement when produced that you will pull the pin. ask the agent “What has the vendor got to hide anyway??!!

    Be the boss. Remember unless it is a fantastic deal for you, he probably wants to sell as much as you want to buy.

    Good Luck-Hang tough

    markk
    Happy Hunting
    http://www.kentscollections.com

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    John

    Out of curiousity are you using a Beenleigh Solicitor?

    Cheers Richard
    richard at fhog.com.au
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    Profile photo of jcls79jcls79
    Member
    @jcls79
    Join Date: 2004
    Post Count: 88

    I am using a brisbane based solicitor, PM me if you want his name.

    Cheers
    john

    Want to join financial independence before 31 years old, currently 25

    Profile photo of PropertyGuruPropertyGuru
    Participant
    @propertyguru
    Join Date: 2003
    Post Count: 1,502

    I bought two property last week in QLD but RE agent given me all the rental agreement did you ask the REA why they don’t want to give you? Even your lender can ask for that before giving you full approval.

    Cheers
    PropertyGuRu [sultan]
    Mortgage Consultant
    [email protected]
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