We provide a feature which may provide a Buyer with the option to submit an unconditional clicktopurchase® offer, or one with completion conditional upon funds being available, or conditional upon satisfactory survey. The seller decides if they wish to provide clicktopurchase® Buyers with the ability to make a conditional offer.
Please refer to the Extra Special Conditions of Sale for Conditionality
If the feature is available and a bidder chooses to make a conditional offer with completion conditional upon funds being available, a default penalty of 0.5% is charged to the buyer for failure to complete an exchanged contract. If a Buyer exchanges with completion conditional upon survey, and a material fault is revealed, the Buyer may rescind the contract.
Figure: The selection as viewed on the property when making an offer
This conditionality feature allows a bidder to submit an offer quickly. If the Buyer believes funds will be obtained to complete the purchase, by obtaining a loan or raising money elsewhere, perhaps by way of selling another property, why should the seller go “under offer” with all the risk which this entails? Let the Buyer show true commitment.
Similarly, if a seller is faced with an unconditional offer at say £1m and an offer with completion conditional upon finance at £1.1m, the seller can make their choice.
The ability to submit an offer with completion subject to satisfactory survey is similarly designed to create a higher level of certainty and speed for both buyer and seller.
Completion Date Feature
clicktopurchase® provides a feature to allow flexibility on completion date when submitting a clicktopurchase® offer.
If the seller wishes to allow the feature to be made available, bidders can submit an offer with a completion date which may vary from the preferred date proposed by the seller. If the seller is prepared to accept the offer with the proposed completion date, this forms a term of the legal contract.
If this feature is not made available, any offer will be on the basis of the completion date or period required by the seller.
