Lawyer wants me to remove finance/LIM/builder conditions. Why?
First-home buyer in NZ and I'm a bit confused by advice from my solicitor.
My offer currently includes:
Finance condition LIM condition Builder's report condition Solicitor approval condition
My solicitor has recommended removing the finance, LIM and builder's report conditions and relying solely on a very broad solicitor approval condition.
His reasoning is that the solicitor approval clause gives more flexibility if I need to pull out, whereas the other conditions require more justification.
What I'm struggling to understand is this:
If the solicitor approval condition is staying in the agreement regardless, what is the downside of also keeping the finance, LIM and builder's report conditions?
Wouldn't I effectively have all four protections instead of just one?
Has anyone had a solicitor recommend this before, and what was the rationale?
I'm trying to understand what I gain by removing the standard conditions rather than whether the solicitor approval clause is broad enough to cover those issues.