We do a lot of pre purchase and timber pest inspections for people buying properties and we always advise them to have their inspection done within three days of signing the contract. This is because then they can cool off without giving reason if significant unexpected issues are discovered during inspection.
Sometimes however, purchasers will rely on contract clauses that give them more time to cool off but have conditions and terminology that can cause confusion and a headache if the purchaser wants out.
Yesterday I had a very upset customer call saying she was told she could not cool off, that it was to late and her cooling off expired last Monday. After some office investigation into the circumstances this is what I had to say:
Hi xxxxxxxx
I have completed my inquiry in this office and report as follows:
The person dealing with your booking was Mrs. xxxxxxxxxxx, she is one of our most experienced consultants
She reported that she requested time for pre purchase building and timber pest inspection for last Monday 02/04/2012 but was told that there was no one to open up during business hrs. and inspection time of 5PM was offered by the agent. This was declined on the basis that it is too late in the day with diminishing daylight and inspection was arranged for the next day.
In my opinion the agency cannot refuse a reasonable request for inspection and then use that the next day as a reason to deny cooling off. That in my opinion it is unconscionable conduct and should be reported to the Consumer Affairs Victoria.
Moral of this story? Don’t trust the contract get out clause offered by the real estate agents, rely instead on the three day statutory right to cool off
