112 Cobalt Street, Broken Hill NSW 2880

Large Scale Home!

This large scale piece of real estate has had many usages over its 100 plus years, a former hotel (Pig and Whistle), group accommodation business, bed and breakfast and now home. The property features an amazing 7 bedrooms, 3 bathrooms, separate managers living quarters with own bathroom, 9kw solar power system, male/ female toilet facilities, workshop/ man cave. The building encompasses a variety of living areas and dining areas, heating and cooling throughout, spacious bedrooms, good kitchen and bathroom facilities. External improvements feature entertainment areas, spa/ sauna facilities, shedding, carport, built in bar with 8x6 coolroom, landscaped grounds, the list simply is endless. Whether your looking to buy a large home or start your own accommodation business, your inspection is invited..
Agents Note:
1. It is highly recommended that all purchasers have pre-approved finance before booking inspections. This is a requirement for all inspections.
2. All offers are to be in writing with the terms and conditions of the offer.
3. All properties will stay on the market and all offers will be presented to vendors right up until an exchange of contract.
4. The agent is obliged to submit all offers to a vendor even though there might be an offer and acceptance between buyer and seller. This is known as gazumping and it is legal in NSW.
5. It is the responsibility of the purchaser to efficiently exchange a contract of sale, otherwise gazumping can occur.

Gazumping

Gazumping occurs when you have a verbal agreement with an agent or seller to buy a property at an agreed price but the property is not sold to you in the end. This usually happens when the vendor (the person selling the property) has decided to sell the property to someone else, usually for a higher amount or better sale conditions. The agent is legally obliged to pass on to the vendor any further offers received for the property up until the exchange of contracts.
If you are gazumped, neither the agent nor the vendor is obliged to compensate you for any money you may have spent on legal advice, inspection reports, finance application costs or inquiries.
In NSW, a property sale is generally only binding on the vendor and buyer when contracts are exchanged between the two parties. Exchange occurs when the vendor signs their copy of the sale contract; the purchaser signs their copy, and the two parties 'exchange' their signed contracts. It is usual at this time for the purchaser to pay a deposit, usually 10% of the purchase price.
https://www.fairtrading.nsw.gov.au/housing-and-property/buying-and-selling-property/buying-a-property/gazumping
Property Code: 913