(VIC) Post-auction negotiations

Discussion in 'The Buying & Selling Process' started by Melbourne_guy, 19th Jun, 2020.

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  1. Melbourne_guy

    Melbourne_guy Well-Known Member

    Joined:
    4th Aug, 2019
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    Location:
    Melbourne
    That doesn't make sense, at best, contradictory. What if finance isn't forthcoming? Either an immediate post-auction clause is valid or it isn't.
     
  2. housechopper2

    housechopper2 Well-Known Member

    Joined:
    5th Oct, 2016
    Posts:
    493
    Location:
    Melbourne
    You can add the finance clause in a post-auction negotiation if it gets passed in. You just can’t exit the contract via a ‘cooling off’ clause if you are signing the contract within 3 days of the auction.

    to your original question, yes you can add additional clauses if you are negotiating after the property passes in. It’s up to the vendor whether they accept it.

    While you might think vendors are more likely to agree to this in the current environment, you might be surprised. For example, if someone asks a vendor to put a ‘subject to inspection’ clause in, The vendor may simply encourage the buyer to conduct the necessary inspections prior to submitting the offer.

    you should get legal advice on all these points before signing any contract of sale.
     

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