We provide a feature which may provide a Purchaser with the option to submit an unconditional clicktopurchase® offer, or one with completion conditional upon funds being available, or conditional upon satisfactory survey. The Vendor decides if they wish to provide clicktopurchase® Purchasers 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 Purchaser for failure to complete an exchanged contract. If a Purchaser exchanged with completion conditional upon survey, and a material fault is revealed, the Purchaser may rescind the contract.
Figure: The section as viewed on the property showing conditionality available
This conditionality feature allows a Bidder to submit an offer quickly. If the Purchaser 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 Vendor go "under offer" with all the risk which this entails? Let the Purchaser show true commitment.
Similarly, if a Vendor is faced with an unconditional offer at say €1m and an offer with completion conditional upon finance at €1.1m, the Vendor 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 Purchaser and Vendor.
Closing Date Feature
clicktopurchase® provides a feature to allow flexibility on closing date when submitting a clicktopurchase® offer.
If the vendor wishes to allow the feature to be made available, bidders can submit an offer with a closing date which may vary from the preferred date proposed by the vendor. If the vendor is prepared to accept the offer with the proposed closing 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 closing date or period required by the vendor.
Figure: The property will allow the bidder to select the closing date.