You Need A Contract Review
The Agent is pushing you to sign a Contract. The vendors are getting antsy. And now there 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.
You need a detailed written Contract Review
What do we look for when doing a Contract Review?
- Have you been provided with a Contract AND a Vendor Statement?
- Has all the correct disclosure been provided? Is it up to date?
- 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 and storage unit?
- Is the property affected by combustible 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;
- 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?
- 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 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 for Sale is different. A thorough written review will ensure you don’t forget anything we have said to you over the phone. It is a very stressful time buying and selling a property so let us help alliviate some of the stress. You will also receive advise in your Contract Review regarding any changes we believe should be made to the Contract for Sale to protect your interests.
To have us review your contract, please click here: