Vendor won’t let us inspect property until after settlement

[4dcook]

So my partner and I bought a property in a very sought after area, and after being beaten 3 times by unconditional offers we decided to put a strong offer forward ourselves

This meant only subject to finance of 14 days, and no building or pest inspection (property is solid brick, steel roof, and tile floor)

We’ve asked the agent if we can walk back through the property to have a good look and make some plans, but the vendor has declined until into the new year (after the 14 days so we would be unconditional)

Does this seem sus? Could we request a building and pest inspection be done even though it wasn’t in our offer? Since we have been told we can’t go back through

*update
My conveyancer says we are still able to request a b&p report as the contract states that the sale is subject to the purchaser obtaining a report within 7 days of signing the contract even though it has not been ticked, I’ve asked her to communicate this on my behalf

** newer update
We are going to book an inspection within the subject to finance period (we can’t book one within the first 7 days to to Christmas) and that way if anything really bad is found we can still withdraw due to ‘finance’. Thanks for everyone’s input!

 

[alexblurhythm]

@4dcook woah no building and pest?!?!? I wouldn't roll them dice but you do you I guess

 

[4dcook]

@alexblurhythm Yeah I would much prefer it, but we’ve lost 3 houses to people with literally 0 conditions, it’s just insane

I’m going to chat to my conveyancer and see if we can still request one to be done even though it wasn’t in the offer

 

[eagleswings144]

@4dcook For B&P just say the bank requires it as part of approval.

 

[4dcook]

@eagleswings144 Not a bad shout, I might try that

 

[eagleswings144]

@4dcook Also advise the REA don’t ask and also get the conveyancer to tell the other party.

The REAs role even more so now is simply a comms manager, they don’t make decisions. Listen to your legal team over them IMHO.

 

[4dcook]

@eagleswings144 Yeah I’ve sent an email to my conveyancer so hopefully she will help sort it out

 

[_%D7%A1%D7%AA]

@eagleswings144 the vendor still isn't going to give a shit if there are other offers without it. This is the unfortunate reality of buying in sydney. You have to get your inspections done before offering.

 

[resjudicata]

@4dcook How do you know they had zero conditions because if the agent told you they’re lying.

 

[evangelicalexplosion]

@resjudicata They probably were lying, but having recently sold, yes, unconditional contracts are common. Unrefundable deposits even get offered. It's foolish, but it happens.

 

[4dcook]

@resjudicata It happened on 3 occasions with 3 different agencies, all 3 times our offer lost was due to ‘unconditional offers’ with ‘no conditions at all’

 

[resjudicata]

@4dcook I was told the exact same thing. If there’s maniacs out there that want to make unconditional offers, good for them. That ain’t me (or you it seems). If it means missing out, so be it. Huge red flag if they don’t want to accept reasonable and rational conditions. There’s always more homes.

 

[shemlogos]

@resjudicata I agree that this seems odd - b&p is usually pretty standard.

However, I did buy I house from public trustee that they asked to remove b&p off the offer. They wanted absolutely no conditions to push the sale through. This didn’t bother me however this is pre-covid and I offered 10% less than the ‘from’ asking price so I was happy to risk it - house is solid as a rock and I already knew there was asbestos in everything (1952 build).

 

[chrism08]

@shemlogos Yeh i would say having a building and pest in but no finance clause pretty close to unconditional.

Ie if i had 2 offers:

First one Subject to finance.

Second one subject to building and pest.

Id take the subject to building and pest as its almost a sure thing unless you know you are sleeping with termites / your roof is caving in.

 

[gmeades]

@resjudicata Not necessarily a red flag, the vendor wants to sell the house and if they have have 5 offers all around the same price range and one basically says "I will buy this house no matter what and I want a short settlement" then that shows the buyer means business and the sale is pretty much locked in

There are enough people willing to make those offers and they will get it most times

 

[xambientxcatalystx]

@resjudicata Sold my $2m+ federation house after the guy did a single 15min walkthrough and put through a good unconditional and waived cooling off period offer that day.

It happens.

House had no issues because id spent 20 years fixing it up, but still I thought he was crazy too. Ironically he was a nightmare on settlement day.

 

[shaz786]

@xambientxcatalystx What happened at settlement?

 

[dphantom]

@4dcook I know of someone who lost their 60k deposit due to placing an unconditional offer. Don't let the REA pressure you into making an unconditional offer.

 

[ccalhoun]

@dphantom What happened?