USEFUL CLAUSES:

Confidence in knowing that the property you are buying is as it should be is crucial when making such a large investment. It is always advised that buyers undertake any due diligence that might be required prior to purchasing a home. The ideal scenario is to research the house you are buying prior to making a good clean offer. If this isn’t possible then there are numerous “further terms of sale” that can be drafted into the for sale and purchase agreement for the purpose of due diligence. Detailed below are some of them.

Finance (working days)
This offer and any contract arising here from is conditional upon the Purchasers within NUMBER working days of acceptance hereof arranging mortgage finance on the security of the said property on terms and conditions satisfactory to themselves in all respects to enable them to complete the purchase.

Title Search (working days)
This offer and any contract arising here from is conditional upon the Purchasers' solicitor searching and approving the title to the said property within NUMBER working days of acceptance hereof.

Land Information Memorandum
This offer and any contract arising here from is conditional upon the Purchasers obtaining a Land Information Memorandum from the Local Authority in respect of the property to be purchased and being satisfied in all respects that all requisitions and relevant matters have been met by the Vendors, within NUMBER working days of acceptance hereof. This clause is inserted for the sole benefit of the Purchasers.

Sale of property
This offer and any contract arising here from is conditional upon an unconditional contract on terms and conditions satisfactory to the purchaser in all respects being entered into by <DATE> for the sale of the Purchasers property situate ADDRESS. This condition is inserted for the sole benefit of the Purchasers.

Confirmation of house sale
This offer and any contract arising here from is conditional upon the existing signed agreement for the sale of the Purchasers' property situate ADDRESS OF PURCHASERS PROPERTY becoming unconditional by DATE. This condition is inserted for the sole benefit of the Purchasers.

Termination of existing agreement
This offer and any contract arising here from is conditional upon the cancellation or termination of the existing signed contract dated DATE for the sale of the property hereto described between the Vendors and NAME OF OTHER BUYER such contract being conditional until DATE. The Vendors agree to take all necessary steps to cancel or to terminate the existing contract immediately the Vendors are lawfully entitled so to do and the Vendors further agree not to grant any extension of the conditional date thereunder nor to waive any right of cancellation or termination thereunder.

Specialist report
This offer and any contract arising here from is conditional upon the Purchasers within DAYS working days of acceptance hereof and at their own expense arranging and receiving a report which is satisfactory to themselves in all respects on the said property from a Registered Public Valuer / Architect / Engineer / Builder / Other: (Delete those which do not apply). This condition is inserted for the sole benefit of the Purchasers.

Work to be completed
It is agreed by and between the parties hereto that prior to settlement, at their own expense and in compliance with any territorial or government authority requirements the Vendor will complete the following work in a proper and tradesperson-like manner:

Vendor purchase
The Vendor accepts the foregoing offer subject to them entering into a conditional / unconditional (delete which does not apply) contract on terms and conditions satisfactory to themselves in all respects to purchase another property suitable to themselves by DATE.

Fax
The parties acknowledge that execution of a facsimile copy of this agreement and transmission thereof by facsimile each to the other or their respective agents or solicitors shall be sufficient to constitute offer and acceptance and to satisfy the requirements of Section 2, Contracts Enforcement Act 1956.

Vendor escape clause
It is agreed by and between the parties hereto that if before the conditions in the above clauses are satisfied the Vendors receive an offer for the purchase of the said property on terms acceptable to themselves the Vendors shall have the right to give the Purchasers in this contract or their solicitor three (3) working days notice in writing (FAX being an acceptable form of notice) ("The Vendors Notice") within such time the Purchasers or their solicitor must confirm in writing (FAX being an acceptable form of notice) this contract to be unconditional.