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  1. #1

    Question Conditional agreement - walking because too much work

    Had an conditional offer on a property subject to lawyers search and builders report. No builder ever showed up and conditional period has just ended with a message that they won't go unconditional because they think there's too much work needs to be done to turn a good profit.

    What's the legal standing of this? Does it automatically flick to unconditional because the reason has nothing to do with any of the conditions and the time-frame for the conditions has now passed or are their other ramifications? Suerly for a builders report not having one done (at the very least) doesn't meet the "all things reasonably necessary" criteria.

    Thanks

  2. #2
    Join Date
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    Might depend on what the condtions say.

    So they often say they will or won't be satisfied by a certain date.

    So sometimes you have to inform that the conditions are not met, or they are deemed to having been met.
    Squadly dinky do!

  3. #3

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    Quote Originally Posted by Davo36 View Post
    Might depend on what the condtions say.

    So they often say they will or won't be satisfied by a certain date.

    So sometimes you have to inform that the conditions are not met, or they are deemed to having been met.

    Yes, there was 10 day to obtain fulfilment. The part that puzzles me (not being a lawyer) is that they are required to "do all things which may be reasonably necessary to enable the condition to be fulfilled by the date of fulfilment". Clearly, not having a builder make a visit breaks this.

    But, on the other hand, another clause states "If the condition isnot fulfilled by the date for fulfilment. either party may at any time beforethe condition is fulfilled or waived avoid this agreement by giving notice to the other.Upon avoidance of this agreement the purchaser shall be entitled to theimmediate return of the deposit and any other moneys paid by the purchaser underthis agreement and neither party shall have any right or claim against theother arising from this agreement or its termination". This implies to me (unless I am reading it incorrectly) that the contract is worse than useless because they can walk away for any reason at any time as well as costing both time, effort and money (lawyers fees etc). If this is true, what really is the purpose of a conditional agreement?


 

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