Approval period

Contract Subject to: building and pest inspections, pool safety inspection, finance approval, other special conditions. The Balance of deposit is due when the conditions are satisfied.

  •  The contract is considered conditional until all special conditions and clauses within  the contract have been satisfied or waived

  • The contract can for example be subject to building and/or pest control, the inspection date gets stated on the sales contract (usually 14 days from the day, the contract got dated)

  • Finance approval must usually be obtained 21 days after the contract was dated. As soon as the last special conditions and/or clauses within the contract have been satisfied or waived, the buyer has to transfer the balance of the deposit to the agencies trust account (usually 4.75% to 9.75% of the purchase price)

  • There are also other special conditions and/or clauses which can be added to the contract at the buyers/sellers request, for example, contract is subject to the sale of the buyer’s property or completion of building works. These terms could slow down the sales process