Subject to building inspection

Hi again,

Senario

Offer made on property with a subject to building inspection clause.

If unforeseen problems arise from the inspection, do I have a legal right to negotiate price down?
And, can I pull out of offer and receive deposit back if the vendor won't negotiate a further fair price reduction?

Many thanks,
Steve

 

Depends on the exact wording of your building inspection clause

 

Thanks FrivolousPanda,

How should I word the condition?

 

I'd ask your conveyancer for that advice. I wouldn't use the standard clause the sales agent provides as unsurprisingly it tends favour the seller and often requires structural defects. Non-structural defects could still cost quite a bit to rectify.

I have previously seen example clauses for WA where they tend to use "Settlement agents" who get involved after the contracts have been signed. Unfortunately I don't have a copy of it readily available. Maybe use the search function here or it could be in the old Somersoft forum

 

That’s what your solicitor is for