So you've signed a contract on a property- but there are some conditions to cover off on before everything is official!...Do you have the Finance!? Is there a building inspection clause perhaps?

All these things seem pretty easy to understand if you do it all do everyday, but for the first home buyer who has never signed on the dotted line before, What do these things actually mean? And what conversations should you be having when it comes to Contract Conditions when buying a home?

Transcript of Conversations about Contract Conditions

Episode: | E81
Show Title: | Conversations about Contract Conditions
Cast: | Aaron Horne, Patrick Berry & John McGregor
Show Length: | 23 minutes 19 seconds

Patrick: If a building inspection comes back bad, it doesn't mean the deal is dead. It just means that we've got conversations to have and see where we can go with them. Sometimes, they pan out and sometimes, we can keep moving forward; sometimes, they don't, and that's the reality of a contract. 

[intro music]

Going once... going twice... SOLD! You're listening to The Property Pod!

Aaron: All right, guys! Welcome back to The Property Pod, your weekly engagement into real estate here in the Hobart marketplace. I am your host, Aaron Horne, and I'm joined--as always--by real estate agents here at 4one4 Property Co, Patrick Berry and John McGregor.

Patrick: Boy, we are glad to be here 

John: Good Morning, gentlemen!

Aaron: How are we today, boys? oh i know he's had some really [John: smooth] good intros lately.

John: Actually, well not good, mate. No, it looks like the soreness is slowly coming to an end now after the [uh] weekend fun run. Although fun's such a loose term for charity races [laughter] 

Aaron: Yes [uh] for anyone out there, you may have seen online, but [uh] many of our staff members competed well, i say "competed" but perhaps "participated" is a better [uh] term for it.

Patrick: "survived" is another word [laughter] we'd like to use in the office.

Aaron: I can take "survived" [uh] in the 2021 RACT City to Casino Fun Run [John: yeah]  

Aaron: I saw that you competed in or you participated in the 11 kilometer Run, John.

John: Oh yeah! I did exceptionally well. I came dead last in my age group. [laughter] yeah, which is because of some great numbers here.

Patrick: John, at what point did you realize: "shoot, 11 kilometers is a long way"?

John: Oh, [stutters] it was painful when uh my knee gave out and I started having to walk, but it really came to head though when [um] I-- because obviously, they've got the--they're bringing up the rear police car and an ambulance and when I saw that in the side of my back and I thought: "Oh no! I've made a terrible mistake"

Aaron: So, how far into the race were you when [um] your knee gave out?

John: oh we're so... [Patrick:  Bunning's traffic lights]

John: Yeah, at the beginning, well I see that the best part was the start, because I was at the front line so I was number one for about... less than a second, but after that, it was great. Well, I must have got I don't know, because you start at the [yeah] at Bunning's then get up through to Canalian Bay. So once you get--once I got past Canalian Bay then back onto the highway, leading running getting to the bridge, that's when I decided I was just like: "no, something's not right here; something's not right"

Aaron: So, did you do much [um] prep before leading up to it? Did you go to the gym, John 2.0? Did you show back up to prepare?

John: I thought about the race a lot, pretty much. [laughter] 

Patrick: It's a mental game.

John: Pretty much the day before like oh [ __ ] I'm still going to buy some running gear  [laughter]

Aaron: I knew that would exactly be John's training regime, like from day one, him and Aaron Murray, his little off-sider, had [uh] said: "Oh yeah. We're gonna challenge each other to do it" which I'm actually really surprised Aaron did sub five minute kilometers [the two agree] on average as well on zero training as well, so it just shows that youth [uh] "youth" has got us, because yeah we're old [John: yeah yeah] 

John: Just like these 30--these 34-year-old knees just couldn't compete with the 21-year-old 

Aaron: Just [um] just to jump ship a little bit speaking, I don't want to say old "old", but I'm just going to [um] throw out to one of our older listeners out there--one of our favorite listeners. I've just got a little bit of audio that I've brought along. She just wanted to say thank you to you, guys, so just hold, one second.

[audio]

Hello, fellas! I really appreciated the little mention I got about being at home, knitting beanies, but actually I was in hospital having a procedure and I wished that I was with the young girl that's on the yacht in the Caribbean, but i am now safely home and I'm into my chore of knitting Aaron a beanie, so thank you for the mention. Appreciated!

Patrick: [laughs] I love that 

Aaron: Yep, so that was Nan out there. She [uh] yeah she had a rough week last week, but she still was in the hospital listening along to The Property Pod

Patrick: Yeah, absolutely! Probably get a spike next week now she's spruced it to all the nurses and doctors and patients

Aaron: Well, she actually had to have one of those [um] MRI things, you know, where you go into the tunnels and she said that they put on like Robbie Williams [um] and the headphones there, but she would have much preferred to hear us talking to keep her--make her feel safe. She's like, "I'll never do that again; I don't want to go back into that tunnel" [John: Oh wow!]

Aaron: So, she said it would have been nicer to have our voices so what a lovely [uh] sentiment from Nan. [John: 100 percent, yeah!]

Aaron: And yes, I'm sure if you could be on her super yacht [um] Megan would have you for sure, but shout out to you yes [uh] yeah, very nice! Great, love it! All right, so let's jump into some real estate stuff which we [uh] meant to talk about when we come in here. Yeah yeah yeah yeah... 

Aaron: I actually was speaking to a guy about a podcast last night I've told you about pickleball before, but yeah, I was crossing over with this guy who works [uh] somewhat in the industry and I said: "Oh, I've got this podcast. Be interesting to have you...