SUBMITTING OFFERS… can someone please advise me or tell me where to look to find out the process of submitting an offer on a QLD property and whether i can also put offers on more than one property at a time.
BUILDING REPORTS… what happens when you submit your offer and its accepted and then your building report says there is extra work needed … do you then get a few quotes as to cost for materials and time lost if you want to go ahead and then take these prices off the contract price.
Thank you for your help in advance
Helena
If you intend to submit numerous offers i would draw up a standard fax format asking the agent to prepare a formal purchase contract with a list of special conditions which are to be included.
The standard fax should include details on:
The purchaser (individually / Trust / Company structure) details.
1) Whether you wish to waive the Cooling off period (not recommended).
2) The number of days you require for finance and building inspection.
3) Settlement date.
4) Other Special Conditions.
5) Deposit amount offered.
Once you have received your Building Inspection back you can either terminate if the report is not acceptable or try and renegotiate the terms / price etc. Of course the Vendor does not have to accept this.
You can put in as many offers as you like.
Richard Taylor | Australia's leading private lender
THANK RICHARD I WILL PRINT THIS OFF AND TAKE WITH ME TO AGENT TOMORROW
HELENA
In QLD, if you terminate based on the building and pest inspection you are obliged to provide a copy of the report if the owner requests it.
Thats exactly right Jimmy and is why you would never terminate under the B & P clause unless the property had some shortcomings.
Terminating under the finance clause is an acceptable way out as the finance needs to be on Terms acceptable to the purchaser.
Richard Taylor | Australia's leading private lender
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