URGENT tender question

[Nectar]

Hi

We are looking at submitting a tender using the standard REINZ tender document (forth edition 2012 (4).

Having read it, I can't see a condition that states that the mortgage currently registered against the title will be released as part of the settlement. have i missed something?

There is a clause 5.8(2) which talks about "release or procure the release of the transfer instrument and other instruments..."

but I can't see a definition of Transfer Instrument.

Cheers,
N

[Nick G]

Put it in as a further terms of sale? It's up to the vendor to accept your offer or not, right?

There is a selling agent? Ask them to put it in. From memory that wasn't in a standard S&P we did recently we had to add it.

[Nectar]

Thanks Nick

Do you have some example words?

Cheers
N

[Nick G]

Yup, will PM you. Maybe get your lawyer to reword it for the tender.

Good luck! If you win let me know what deal it was. I'm going after one too... hope it's different.