Browse Forums Home Finance 1 Dec 20, 2013 10:19 pm Hi all, We have just purchased our first home, and due to the late discovery of some serious damage to the house, the vendors agreed to drop the price. This was agreed to on the last day of our cooling off period (today). Our conveyancer inserted a rebate clause in the contract, and has said this means we don't have to go back through the loan process with our bank. As it was all very last minute she didn't actually explain what this means. Has anyone had a similar experience? Does this mean we still have to have to complete at the original price, and then they give us back the agreed amount? How does that affect the amount of stamp duty and lenders mortgage insurance? Our broker seemed okay with it but I am concerned that we might have ventured into an ethical grey area. Anyone know what a rebate clause in this situation entails? Upgrading your windows to soundproof ones, like triple-glazed, can make a significant difference. While changing window… 4 8671 Unless there is something in special conditions the builder does not have to give you timeline. If your demolition contractor has not removed Asbestos and it was found… 12 22641 Wow I hadn't realised things had gotten that pricey in just a couple of years since I built, that is crazy with how much land is now costing if you aren't lucky enough to… 3 5352 |