The ins and outs of a Contract – When does a Contract Exist and Amending a Contract
When is a Contract Official?
A contract becomes official and legally binding when the last party has signed the contract. It is common that the buyer signs the contract first with their offered amount. If the seller accepts the offer, they will then sign the contract. The contract will become legally binding on the day the last...
Selling a Unit or Townhouse? What you must Disclose to the Buyer Before Signing a Contract
When selling a unit or a townhouse a seller has an obligation to disclose to potential buyers’ body corporate information before a contract is entered into. Failing to provide the information, or providing incorrect information, risks the contract being terminated.
What information needs to be included in the Disclosure...
Looking to Buy More than 1 Property – Beware of Transfer Duty Costs
Have you ever thought about buying two or more properties in one complex?
With ownership of property being one of the most prominent investment methods, it can be appealing to buy multiple properties to invest in. Maybe you have thought about buying two or more properties in the same unit complex. Be careful about buying multiple...
SUNSET CLAUSE BUYERS SHOULD BE WEARY – ARE YOU BUYING OFF THE PLAN IN QUEENSLAND?
Off the plan contracts have a potentially fatal flaw with the use of a sunset clause. While a sunset clause provides the benefit of setting a deadline for when the property must be built by, it can and has been exploited by developers to terminate contracts and proceed with a higher offer price. With the overly competitive property...