Contract Review – Make an Informed Decision BEFORE you Sign
Let me guess…the Agent is pushing you, the vendors are getting antsy and of course there is ALWAYS someone else that has made another offer (says every Agent EVER). Do not be pushed into signing before you understand exactly what you are buying.
What do we look for when reviewing a Contract of Sale and Vendor Statement?
- Is the property you are intending to buy in the correct place as per the Plan;
- What it is that you are buying? Does is come with a carpark?
- Is the property affected by combustable cladding?
- Are there any defects that the Council has been made aware of that the vendor is yet to rectify;
- Is the property in arrears of its rates, water, owners corporation or any other costs associated with the property;
- Is there a Tenant in the property and will that Tenant remain or will the property be handed over with vacant possession at settlement;
- Is the property in the correct zoning for its purpose (residential, commercial etc);
- Are there any overlays that may affect the current or future use of the property. i.e. Can you extend, knock down and build a new home on the property, remove trees, add a new fence or change the colour of the house?
- Are there any onerous special conditions that the vendor has in place that will make it difficult for you as the purchaser to achieve the settlement terms?
- The list is ENDLESS!
Each Contract of Sale is different. We ensure a thorough review in writing so you won’t forget anything we have said. We will also provide our advice to any changes we think should be made to protect your interest as the purchaser.
To have us review your contract, please click here: