Offer to purchase property contract


Once you have done that and you're happy with the place, sign the offer to purchase but I always say that make sure you take the offer to purchase home. Some of you guys might know my story of how I signed offer to purchase and I tried to get out of that offer to purchase only to be told that there's actually a suspensive clause in there that even needs to get full filled for me to get out of that deal. And I had to end up settling out of court because unfortunately or fortunately, there was a bank that was willing to give me a loan. 

Now that's one of the clauses that you need to be able to understand in the offer to purchase, before you go ahead and purchase the property, right? So take the contract to home, sleep on, and think deep about it. Because the thing is, when excited about buying a property, chances are you going to sign immediately. And that's not always a good thing, so rather go home, and sleep on it, you might think that same night about something and go through it again and decide on your private property decision. 

So I think it is important for you to be able to actually before you even sign get a better understanding of what is in the contract that you're about to sign up for.  There is another clause that you need to be well aware of in the offer to purchase which is the foot cluse clause which basically means that you are buying as it. So it is your latent and your patent defects. The latent and patent defects are issues with actual structure of the house which you might not be able to see at the time of the viewing of the house before buying. I think it is important that you are very clear on those kind of things and make sure that you sort those kind of things out.

No comments:

Post a Comment