A contract for the sale of land is made up of three parts; the particulars of sale, the general and special conditions and the vendor disclosure statement (AKA the section 32 statement).
The particulars of sale are details like the price, the deposit, the settlement date, a description of the property and the ‘goods’ sold with the property. You’ll also see several tick boxes for whether the price includes GST, whether the property is sold subject to a lease and whether the contract is conditional on finance or building or pest reports.
These contracts are legally binding, and we recommend that you always have any contract review by a qualified lawyer prior to signing. Serry Solicitors offer free contract reviews with no obligation to use our firm for your conveyance. Importantly, the lawyers at Serry Solicitors can provide you with legal advice which you cannot receive from a licenced conveyancer.
A free contract review will ensure that you are fully aware of all of your obligations as purchaser and whether all the usual services are connected and whether there are any easement or covenants (legal restrictions) that may have an effect on what you’re planning to do with the property. We will also point out any onerous terms in the contract that might be detrimental to your interests.
For example, a recent client of ours was planning on building a high front fence for security reasons. In her free contract review, we checked the vendor statement and told her there was a covenant that prohibited the building of a front fence. In another case, buried inside the section 32 statement was a notice from Council detailing that this particular high-rise apartment was being investigated for combustible cladding.
Contact us below for your free contract review.
The contents of this article are general in nature only and do not constitute legal advice and should not be relied upon as such.
Liability limited by a scheme approved under Professional Standards Legislation
