Posts by:
The contract particulars contain important details specific to your agreement. These can be found on pages 1 and 3 of the ‘Contract for the sale and purchase of land 2022 edition’ by The Law Society of New South Wales and The Real Estate Institute of New South Wales. This is the contract form used predominantly in property sale and purchase transactions in NSW.
eConveyancing is an online process for settling property transactions, allowing for the electronic signing of documents and transfer of funds. It is more efficient than traditional methods but carries some risks, such as system failures or transfer errors.
You have a right to terminate the contract if you change your mind. This right exists only for a limited time, and is called a Cooling-off Period.
A property purchase transaction in New South Wales generally involves some time critical issues that must be considered when the Contract is entered into or shortly after that time.
The Particulars of Sale of the Contract contains important details specific to your agreement. It's important to review it carefully to ensure all information is correct and if you notice any inaccuracies, inform relevant parties as soon as possible.
If you are buying in a Community Titles Scheme there might be issues arising from building defects and work required in relation to:
Steps that must be taken in relation to conditions to which the Contract is subject (such as a finance condition or a building and pest inspection report condition) and the exercise of rights of termination that may arise.
People across Australia have lost money when hackers have impersonated a law practice or another party involved in a legal matter by altering electronic communications including email, fax, social media, text, instant messaging, applications, file sharing and documents including PDF or Word documents. The following steps are critical to reduce this risk and if you are involved in a transfer of funds these are steps you should take to reduce the risk of loss.
Some issues or search results affecting the Property may exist which you are unaware of, but be forced to accept, such as:
As the settlement date approaches, it's crucial for Buyers to ensure the property is in the agreed-upon condition before finalising the purchase. Conducting a thorough pre-settlement inspection allows Buyers to verify that everything is as expected and to address any last-minute issues that could impact the transaction. This inspection is a key step in safeguarding your investment and ensuring a smooth transition of ownership.