Try Before you Buy

In our age of online shopping, we often forget to 'try before we buy' - to give the thing a whirl before we hand over our hard earned cash. Most people when they buy a car, will take it for a test drive. But what about a house?

Well, you probably won't be able to live in it before you buy it. It would be difficult to imagine a Vendor saying: "Sure thing. Come and stay over. Sleep in the bedroom, watch TV in the lounge room, cook up a storm in the kitchen." However, this does not mean that you can't have a good look at the property before buying it. Open house inspections are often quite short, but if you are keen on the property, you may be able to arrange a personal showing. This is your chance to check the plumbing, test the air-conditioner, turn on the oven and stove-top, open and close the doors and windows or swing around on the hills hoist (not recommended!).

Why does it matter to try before you buy when it comes to buying a home? Most contracts for sale contain a clause that says that you, as the buyer, agree to take the property in its current condition including all defects and damage. This means that if the oven isn't working at the time you sign the contract, then the Vendor doesn't have to fix it before settlement (if it was working at exchange of contracts then you may have a case to say that the Vendor should repair it).

A wise purchaser makes sure they have a thorough look at the property and ascertains what is and what isn't working. If you know that the oven isn't working, then that will help you in working out an appropriate price to offer. As always, caveat emptor applies - 'let the buyer beware'.

Jonathan Marquet
Emil Ford & Co.