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It is important if you are buying that you fully understand your legal rights and obligations before purchasing a property.
If you are buying at auction, the Contract is generally unconditional and any cooling off rights do not apply. You must have conducted all your due diligence before hand, including having us look over the vendor’s statement and you’re confident your finance is approved.
If you are buying by private sale, you generally have the benefit of the 3 day cooling off period from the date you sign the Contract. You also have the right to negotiate terms, including making the Contract subject to finance, subject to a building and pest inspection and / or the Contract subject to your conveyancer’s approval, (otherwise known as a ‘contract review‘). The actual wording of these clauses or “special conditions” is critical. So, please seek our advice beforehand to ensure your legal interests are best proctected.
We recommend you read our Five Step Guide before you sign a contract to purchase any property. The Consumer Affairs Victoria (CAV) website and “due diligence checklist” also provides helpful information.
Leave It to the Experts — Conveyancing Excellence has been handling conveyancing transactions for property purchases for many years. We act on your behalf so the process is fast, hassle free, transparent and easy to understand. Contact us today for a no obligation consultation, or find out more.
Don’t sign a Contract before getting advice! Use our Online Contract Review service – It’s fast and affordable.