Inspection by the vendor clause

balUK

Hello every one,
I am in a process of buying a repossessed property. Recently I got a draft contract from my solicitor and there is clause in it stating that
"Inspection by the vendor
The purchaser agrees to allow the vendor and/or its authorised representatives, surveyors and valuers to inspect both the interior and the exterior of the property on not more than three occasions during a period of two years commencing with the completion date...."

I don't like this clause and want it to be removed. I asked my solicitors to do so but according to them, this is their (repossession company's) standard contract and very likely they will be unwilling change these terms. However, my solicitor will try.

Has anyone else experienced the same and more importantly I would like to know why the company would be interested in visiting my house once they've sold it to me.. Any suggestions??
Thanks in advance
Bal

scooter_chick

Hi Bal,

Some friends of mine recently bought a property that had been bought as a repo by the person they bought from. The original repo company wanted to do the exact inspection you mention soon after my friends bought.

They checked it out with their solicitor, who said it was all legit. Something to do with the repo company checking that they still agreed with the value they'd given at the time of the repo was still correct. My friends agreed, said it took about 20 mins & they got £50 for their trouble.

Hope that helps!

G_M

I had a similar clause with my repo contract. I refused and instructed my solicitor to get it removed. It was .

No way I want some surveyor, banker, agent, whatever coming round in 3 years time. I buy the house - it's mine. I decide who comes round and when!

If they'd refused to remove the clause I'd have walked away, but that's just me. You may not mind....

Richard_Webster

They put the clause in to give them the opportunity of collecting evidence against their estate agent if he advised them to sell it to you for well under its real value. They can't and won't sue you but they might sue him.

balUK

Richard_Webster wrote: »

They put the clause in to give them the opportunity of collecting evidence against their estate agent if he advised them to sell it to you for well under its real value. They can't and won't sue you but they might sue him.

Thanks for your replies guys. It is good to know that its fairly common for companies to put these clauses in the contract and what it exactly means. I think I am going to insist on getting this clause removed as G_M did. Thanks once again.