Conveyancing - house purchase

Mr & Mrs A sensibly made contact with us before they signed a contract to purchase.  We gave them advice with regard to the conditions to be inserted into the contract.  We advised them that it is always desirable to make an offer in the terms most favourable to the purchaser.  Usually those terms will include conditions for finance, a LIM report, a building inspection report, and if necessary the sale of another property.

With these conditions in place the clients had protection right across the board.  Most vendors accept these sort of conditions because they are now relatively standard.

The property inspection report revealed several thousand dollars worth of work requiring to be done which was not immediately obvious to the purchasers on their inspection of the property.  The purchasers then had a choice to be able to proceed regardless, to put to the vendor the request that the vendor remedy the defects, the possibility that the price might be reduced depending on the reaction of the vendor to the request.  In the end a satisfactory resolution was found by way of compromise by which the vendor carried out some of the work and the price was reduced to an extent and the purchaser agreed to accept some of the matters as their own responsibility.

Without the building inspection condition this would not have been possible and the purchaser would have been faced with quite a large bill to remedy the matters which they had no idea about when they first looked at the property.