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, theinspection 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 beensatisfied or waived, the buyer has to transfer the balance of the deposit to theagencies 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 thecontract at the buyers/sellers request, for example, contract is subject to the sale ofthe buyer’s property or completion of building works. These terms could slow downthe sales process