Hi all,
I am looking at purchasing a property with the view to developing three units. Could anyone please give me a clause that I could use in the contract of sale that allows me to exit the contract should I find that council will not permit such use of the property.
Regards, Charlie
Hi Charlie
I use a clause "subject to successful due dillagence review" you can then put a timeframe on that due dilligance that should allow you to see if council will approve prior to going unconditional.
If the selling party knows that you are intending to build units on it then "subject to council approval" makes good sense.
Do however check with your solicitor for appropriate wording.
Don
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