Buying a house? Discover dissolving conditions
Questioner
My daughter and her boyfriend have made an offer on a house and the provisional purchase contract will be signed soon. Now the sellers want to include a condition precedent that they will not know until May 11th at the latest whether they can arrange the mortgage for their purchased house (due to their own business). My daughter is already incurring costs for a building inspection, valuation and mortgage advice. Can they include this so that these costs will be paid by the seller in the event of termination?...Lawyer
There is a great deal of contractual freedom in this area; if the seller agrees to the inclusion of such a clause, it can be included in the purchase contract without further ado.Questioner
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