Subject to finance clause

Daniel J · Jul 04, 2024 3:51 pm

Building in Melb:

Builder has removed 'Subject to finance' clause from contract and after my request to include it is now saying 'we will allow building contract to be 14 days subject to finance. Works will recommence 14 days after the building contract has been executed'.

I find this perculiar. Thoughts pls. Much thanks

ponzutwo · Jul 04, 2024 3:58 pm

you've got 14 days to organize finance and if you dont pull out before then, you're unconditional and are up for the cost of the contract or lose your deposit at the very least. They're trying to make sure that whatever happens, they get money out of you and the window they have to wait for to find out if they got you is 14 days.

Daniel J · Jul 05, 2024 6:59 pm

ponzutwo

you've got 14 days to organize finance and if you dont pull out before then, you're unconditional and are up for the cost of the contract or lose your deposit at the very least. They're trying to make sure that whatever happens, they get money out of you and the window they have to wait for to find out if they got you is 14 days.

Thank you as always.