First Home Buyer — Inner West Sydney
Situation
A first-home buyer found a terrace in Marrickville and had 5 days to exchange. Finance pre-approval was in place but the contract included an unusual special condition allowing the vendor to extend settlement by up to 60 days at their discretion.
What we did
Reviewed the contract same day. Flagged the open-ended extension clause as unacceptable and negotiated it down to a hard 14-day cap with penalty interest. Coordinated with the buyer's broker to lock in finance and managed the cooling-off period.
Outcome
Exchanged on day 4. Settlement completed on the original contract date with no extension required. Buyer moved in on schedule.