There have been a few times in my life that I have needed a lawyer, and during those times, their help was invaluable. I worked with lawyers during the custody battle for my kids, when I dissolved the partnership for my business and after I suffered an injury at work. In this blog, I plan to write about the law from a range of angles. I may share posts inspired by my personal experiences, what's popular in the news or what strikes my fancy when I'm writing. I have a daughter, Oliva. I manage a medical clinic, and I love blogging. I hope you like the results. My name is Melinda, and thanks for reading!
Purchase of properties is such a huge financial undertaking and therefore it is important the sale contract meets all the legal requirements. This is vital for the process to proceed without legal hiccups. Basic information such as the parties to the contract, the price of the property, details of the property itself, as well as the promise, should all be clearly featured in the contract.
Starting from the opening page of the sale contract, the following particulars must be included;
A cooling off period as well as a statement indicating the prescribed form of the cooling period must be included. Depending on the area within Australia, different places vary in terms of cooling off periods. For instance, Victoria has 3 business days while New South Wales has 5 business days.
What Your Seller Should Disclose
Under the sale of land contract, the sellers or vendors must attach all the disclosure documents, warranties, and conditions along with a full disclosure and description of any serious defects in the property title that you must be aware of and accept.
The documents that should be attached include:
If the above particulars are not included, the contract can be vulnerable to cancellation by the vendor which may expose you to unnecessary inconveniences.
As the buyer, you should bear in mind that a breach of warranty on the part of your seller can give you the powers to rescind the contract. For more information, contact a company that specializes in conveyancing.Share