Buying

Whether it’s your first home, you’re upgrading or down-sizing, or purchasing an investment, buying property is a significant financial commitment. Before signing anything, it is essential to have your Conveyancer or Property Lawyer review the Vendor’s Statement (Section 32) and Contract of Sale.

Why is this so important?

Once you sign, the Contract becomes legally binding. There may be hidden risks that are not immediately obvious.

For example:

• Owner Builder works may not have been properly disclosed, or the required Defects Report and insurance may not have been obtained.
• There could be illegal or unapproved building works on the property.
• An easement may run through the land, restricting extensions, pools, sheds or redevelopment plans. 
• Covenants or planning controls could limit what you can build or alter. 
• The Contract may include unfair or one-sided Special Conditions that heavily favour the Vendor. 

Some special conditions can override standard contractual protections. They may attempt to limit the Vendor’s liability, shorten objection timeframes, restrict your rights to claim compensation, or impose additional costs on you. These clauses are often overlooked but can significantly affect your legal position.

A thorough contract review identifies these issues before you are committed. This allows you to negotiate amendments, request further documentation, or make an informed decision about whether to proceed.

Engaging your Conveyancer early provides clarity, protects your interests and helps ensure your purchase proceeds smoothly from contract to settlement.