Gone to hospital

[T1 Terry]

Congratulations Lesley and Erich, the house looks terrific in the photo shoot and a real bargain at that price.
Is the SLR Expeditions Vehicles the same place that Peter M and John are talking about on the Li forum? They certainly have the expedition vehicle experience. I believe Peter M has a motorhome unit of theirs booked in on the production line. Are you looking at upgrading?

[Swisslulu]

Bruce, up here it is standard procedure (unless the buyer has cash) to include a finance clause even if the purchaser has pre-approval. I certainly have seen it used to get out of a purchase but that is rare.

Yes, Terry, we will be in the market to upgrade but it will be a caravan. We had a look through an almost complete motorhome which was a fabulous unit but at around $250K, a bit rich for our budget. We have been camped with a couple of SLR vans in the past and they looked good. Don't know about the guys on the Li forum. Erich hadn't read anything about SLR there.

[T1 Terry]

Bruce, up here it is standard procedure (unless the buyer has cash) to include a finance clause even if the purchaser has pre-approval. I certainly have seen it used to get out of a purchase but that is rare.

If they can't get finance and pull out, do they loose their deposit?

[BruceS]

Not in SA. It let's them off the hook completely.
If it's not subject to finance & they pull out then they lose their deposit and can even be billed for re-advertising & other costs.
You could even put a clause in "subject to Dot's cat eating a dead fish" & it just allows an extra "out" for them.
Over the years I've sold various properties and been requested to have a 'subject' clause.......... no way........ never.
Come back when you're serious buyers. Once again it may just be my upbringing or is that "dragged up"?

[Swisslulu]

In Qld, if they can't get finance the deposit is refunded but in reality (and I have worked in RE here for quite a while) it is rare for someone to take this route. It generally only happens if they realise they have paid too much or their circumstances change I.e. losing their job. I'm not at all concerned about it. If they don't get their finance we will sell to someone else and perhaps get a better price. We aren't under pressure so will continue to pack up the spare stuff.

[T1 Terry]

Around here the problem was guzzumping, if you didn't put the full 10% deposit down when you'd nailed the price, they'd up the price trying to force more out of you or they had simply found someone who didn't screw them down as hard.
The only subject clause I'd allow was a bad pest inspection or dry rot damage report, that way you didn't appear to be hidding anything.You wouldn't dare put a bid in for a house around here if you didn't have finance, they would screw you to the wall ad then start throwing darts. I've seen house around here change hands twice before anyone moved in, then it goes straight on the rental market and has a tennant within a week generally. Still too much money floating around looking for decent return, there was a lot of money poured into the local area when all the golden handshakes at Bluescope happened with very little return on investment available.

[Swisslulu]

Gosh, it sounds like you Southerners are a ruthless mob. Gazumping is frowned upon up here and agents can be fined or struck off if they breach their code of practice. It is up to the seller to accept, or not, any conditions the buyer wants to impose. Absolutely their choice so no reason to complain. Standard here is B&P inspection and finance. Subject to Sale/settlement was common when it was a buyer's market but that is less common these days.

[Swisslulu]

We are now unconditional....let the packing fun begin. Basilbunyip's daughter has bought herself an outstanding home!

[Dot]

She's on the move and the Durif shout is on Lesley & Eric so I hear. Congrats

[homeless]

So do we get to party at Murray Bridge.
I think a house de warming should be in order, and then the house boat christening and sea trials after the battery instal.
I see the mechanical tests, the sea man ship tests for Bruce and then the Battery test cruise, (that one will need an over night cruise with the installer and trades assistant and partners, me thinks). Lots of duriff for the girls, fifty lashes for T1 and I am partial to a good scotch.
Regards
Brian