What's happening?
When you buy a property, you take on the contract terms offered by the seller, which may include special conditions favouring the vendor. Reviewing the contract before signing allows you to understand what you are agreeing to and raise concerns while there is still room to negotiate.
What could it mean for me?
- Special conditions can shift risk onto the buyer
- Finance and building/pest conditions (where included) need to be actioned within set timeframes
- Deposit arrangements affect your exposure if the deal doesn't proceed
- Settlement delays can have flow-on effects if you are also selling
What are my options?
- Request contract review before making an offer
- Negotiate finance or inspection conditions where appropriate
- Arrange your own searches rather than relying solely on the vendor's
- Align settlement dates with any related sale
What happens next?
- Provide the draft contract for review
- Discuss any proposed amendments with the agent or vendor's solicitor
- Exchange contracts once terms are settled
- Complete due diligence and finance steps
- Attend settlement
How can MGE Lawyers help?
We act for buyers at each stage of a purchase, working to ensure the contract reflects what you understood you were agreeing to and that settlement runs smoothly.