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Building Inspection

We recommend that you have an inspection of the building carried out by a registered builder who would provide a report on the building including:-

The contract has provision for you to make the contract subject to your receiving a satisfactory building report and you will need to insert the name of the Building Inspector and the time with which the inspection is to be carried out.

After You Have Signed The Contract Conditions To Be Satisfied

If the contract was made subject to any conditions you shall ensure that the time within which you have to satisfy these conditions is strictly complied with. For example:-

Building Inspection

The Terms of Contract require you to advise the vendor within the time provided whether or not you are satisfied with the Building Inspection Report. If you do not advise the vendor that you are satisfied within that time you are taken to have been satisfied. It is therefore essential that you do not allow the time to pass without having notified the vendor. If you are not satisfied and you have not arranged any extension your remedy is to terminate the contract. Grant & Simpson can advise you of your rights regarding this clause.

Approval Of Finance

The Terms of Contract have a time within which to advise the vendor if your finance is approved and is satisfactory. Unlike the Building Inspection clause you cannot be assumed to have obtained finance if you have not but if you do not notify the vendor by the due date the vendor is entitled to terminate the contract.

Give The Contract To Your Solicitor

It is most important that you give your Solicitor the Contract as soon as possible after it has been signed so you can be advised of your rights and obligations in relation to any conditions to which the contract is subject. There is no assistance your Solicitor can give if the time for giving any notices under the Contract has already passed. Once your Solicitor receives the contract he will carry out the searches necessary to properly investigate the vendors title to the property. The costs of the usual searches and the rates of stamp duty appear on this brochure



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