Important Things To Look For In Property Contracts

Important Things To Look For In Property Contracts

So you’re looking to purchase a property – congratulations!

Not only is it one of the biggest decisions in your life, it’s also one of the most stressful. We all want a smooth property transaction and settlement with no hiccups in between!

Even if you’re a seasoned property purchaser and have multiple properties in your investment portfolio, there are always some key things you should look for in sales contracts for your own protection.

Not only is it important that you know what to look for in property contracts, having an experienced property and/or conveyancing lawyer, like TY Lawyers in Chatswood, will put you in the best position to protect your interests and get the best possible streamlines outcome with your property purchase.

Having an experienced conveyancing solicitor means you are covered if something goes wrong with the purchase or contract. If you review contracts without a professional property or conveyancing solicitor, you could be personally liable.

Let’s take a look at some of the important things you should be aware of with your property purchase.

Settlement Details

This includes when the settlement will be, whether it’s 8 weeks, 12 weeks or an agreed timeframe. It also includes when you are expected to pay the balance of the sale price by and any cooling off period. As a purchaser you should know from the outset exactly what the settlement timeframe is going to be before you put a deposit down.

If you’re not happy with the settlement period, you can always attempt to negotiate with the seller on a different time period. Your conveyancing solicitor in Chatswood can advise you on this.

Deposit Amount

Before going ahead with the sale, as the purchaser you should have a clear understanding of the deposit amount and when this is due.

Any Inclusions Or Exclusions

This would include things like fixtures and fittings: blinds, dishwashers, any furniture or anything outside the scope of the actual physical building that fall into the category inclusions or exclusions.

Title Documents

This includes zoning certificate, any property plans and drainage diagrams.

As the potential new owner, you need to have peace of mind that your conveyancing lawyer in Chatswood has reviewed the title documents to ensure everything is above board, accurate and completely correct prior to exchanging contracts and proceeding with the sale.

Any Special Conditions

Anything that you as the new purchaser, needs to be aware of prior to the settlement of the property, for example will the property be sold as ‘vacant possession’ or ‘subject to a lease’.

How Your Property Laywer Or Conveyancing Solicitor In Chatswood Helps You

Not only with you be given advice from an experienced property lawyer, you will be given key information pertaining to:

  • Understanding your obligations as the purchaser
  • Understanding the clauses of the contract and what that means to you
  • Overall advice to assist you in making an informed decision about the purchase

TY Lawyers Chatswood

TY Lawyers are experienced property lawyers and conveyancing solicitors in Chatswood. The team is available across Sydney to assist you with your conveyancing requirements.

Get in touch today! Don’t hesitate to reach out to our friendly team at TY Lawyers Chatswood.

Call our office on: (02) 8007 0135 or email us on

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