Tips for securing 2 neighbouring properties

Discussion in 'Investment Strategy' started by ellejay, 5th Aug, 2017.

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  1. ellejay

    ellejay Well-Known Member

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    I'm interested in a property in nsw but the neighbouring plot (which is also for sale but with a diferent agent) cuts across the front of the house and would obstruct the view if someone bought it and built on there. We're considering trying to buy the house and neighbouring plot at the same time. Are there any ways to reduce the risk of getting stuck having bought one but unable to buy the other one for some reason? Hope that makes sense. The vacant plot slopes alot and we only want to buy it if we bought the house. Equally we don't want to have bought the house then someone else buys the plot and builds in front of us.
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Conditional contract or option to purchase
     
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  3. ellejay

    ellejay Well-Known Member

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    Thanks Terry but can you say a bit more about the conditional contract?
     
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Put a condition in that allows you to back out at your discretion.

    It could be subject to you entering a contract of the other land or something else.
     
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