In a rapidly moving real estate market, it’s tempting to overlook or cut corners when reviewing a contract. Not every purchaser is familiar with what’s in a contract.
Beware of being caught up in a possible “bidding war“ to secure the property you are targeting. It is paramount that you engage the services of a solicitor or conveyancer to carefully peruse the contract prior to placing an “Offer” or signing. Perhaps, you may need to see if your legal representative will accept a financial retainer to review any property contract that you’re keen on to ensure that the right property is secured. Most professionals will be pleased to assist in this regard.
Some of the points to look out for include works that have been completed without council approvals, such as pool fencing, illegal cladding, Owners-Corporation special levies, Owners-Corporation minutes of most recent meeting, and so on. When purchasing a property, employ the old adage, Caveat Emptor : “Let the buyer beware”
For further details on engaging solicitors or conveyancers, do not hesitate to contact Paul today.
Tags: property contracts