The purchaser may include special conditions in the Contract of Sale when the offer is made. A common clause used is ‘subject to finance’. This means if the purchaser has not secured finance approval by a certain date they have the option of not proceeding with the purchase.
Subject to building inspection, pest inspection and the 3 day cooling-off period are also options for the purchaser not to proceed.
You may arrange your finance prior to signing a Contract, however, if you have not done this you may arrange for the Contract to include a “finance clause” which provides you with time to make the necessary arrangements. Finance can be arranged via your Real Estate Agent, or we can assist you with the various lenders and finance brokers that we are confident will help guide you in this process.
If your finances are not arranged correctly, settlement may be delayed in which case substantial additional costs may be incurred.
We will arrange settlement of property, and take care of any complexities on your behalf. Settlement usually takes place at 30/60/90/120 days intervals from the signing of the Contract, or the date mutually suitable to yourself and the vendor.