Urgent! Settlement Reduction

Discussion in 'The Buying & Selling Process' started by Kai41314, 26th Aug, 2015.

Join Australia's most dynamic and respected property investment community
Page 2 of 2
  1. Big Will

    Big Will Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,517
    Location:
    Melbourne, Australia
    You might also need to see the wording of your building inspection clause.

    Because if you have structural issues and there is a major fault but not structural then you cannot claim building.

    As other have said depends on the market and the price you have paid.

    Not relevant to your situation but if you bought the house for $100,000 less than FMV on a 500k house then it would be hard to get a further reduction of $15,000.

    As you said the vendor has another offer which they can go back to but request the vendor to reconsider the price to be $15,000 less and if they say no then you have to decide to accept as is or they might go look at the other buyer.
     
    Big Will, 27th Aug, 2015
    #21
  2. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,392
    Location:
    Sydney
    ...and what's the outcome?
     
    larrylarry, 27th Aug, 2015
    #22
  3. Kai41314

    Kai41314 Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    134
    Location:
    Melbourne
    It is common in Melbourne that contracts can only subject to structural issues but in Queensland it is different. I have exited the contract. I felt that is too much work for me and vendor got another contract waiting.


     
    Last edited: 27th Aug, 2015
    Kai41314, 27th Aug, 2015
    #23
Page 2 of 2
Build Passive Income WITHOUT Buyers Agents!

Build Passive Income WITHOUT Dropping $15K On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia