10 Day Cooling Off V Subject to Finance

My offer has been accepted with my conditions being 10 Subject to Finance, pest and building inspection.

Instead of my conditions above a 10 day cooling off period has been added to the 1st draft of sale contract instead (probably lack of attention to detail by agent).

* What is the difference?
* Is it worth pushing back to add my conditions?
* I know I can request an extension from the vendor if my finance isn’t approved in time. Can I request an extension to the cooling off period.
* Also, an exclusion has been noted in the contract for a line tree in the backyard. What does this mean?

 

Doesnt sound like your offer has been accepted. Its a counteroffer.

Is this nsw?
What is ‘10’ in your subject to inspection and finance clause? 10 days?

are you still paying the nonrefundable 0.25%? (If nsw)

 

In NSW. Offer has been accepted but I’m pretty sure there has just been a breakdown in communication between the agent and their offsider who sent me the contract.

I proposed Subject to Finance clause of 10 business days and also subject to pest/building which was all accepted by the agent

 

Ask your solicitor to confirm that contract has been exchanged with your conditions in it.

 

"Subject to" conditions are certainly not the norm in NSW and a vendor would have to be pretty desperate to agree to them in this current boom.

 

In NSW it’s normal to have a cooling off period rather than “subject to” clauses. Normally 5 days so 10 days is good for you. Usually if you don’t have everything sorted out in the ten days you either lose the 0.25% or negotiate more time.