Free contract review included with our standard package
We offer a free contract / Section 32 review valued at $150 when you engage us. Our Purchaser’s standard package has a guaranteed contract review turnaround time within 3 business days. If it’s urgent, let us know and we’ll try our best. We find the number one regret factor for many purchasers is they forget to seek a legal opinion about the contract beforehand. Our advice to clients is always get your contract reviewed so you’re aware of the potential risks.
With our contract / Section 32 reviews, we provide you with a list of all the legal risks you need to be aware of so you can decide how much you want to offer for the property. You’ll bid with a much more informed view of the property.
Importantly, we’ll give you our recommendations on how to negotiate the paperwork so you are protected from any major risks.
We understand the search for a house may take time and you want to be sure about the documentation before you put in an offer. No matter how long your search takes, we’re here to help with contract / Section 32 reviews so you can have peace of mind for each property your bidding for.
For more details and pricing about our standard package for buyers, visit our buyers page for details about the service.
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Before the contract review is completed, can I sign the contract and withdraw if I change my mind?
You have 3 clear business days of the day the Purchaser (you) signs the contract to end the contract with written notice. This means that you will not be able to change your mind and rescind the contract. You will be entitled to all the money you paid except for $100 or 0.2% of the purchase price (whichever is greater) if ended in this way. However, the 3-day cooling off period will not apply if you purchase the property on auction day, or 3 business days before or after the publicly advertised auction day.
Why are contract reviews important?
We always advise our clients to hold off until making an offer for a property until we have conducted a full contract review. The review provides an insight of conditions in which either party is subject to comply to (e.g., finance approval, building and pest report, etc), an overview of consequences regarding breach of the contract, approximate figures of outgoings and rates, and to check whether the title is encumbered. Our review can assist you in deciding whether you would like to proceed making your offer and/or negotiating.
Can I terminate the contract if my loan isn’t approved?
If you are planning on applying for a loan for your property purchase, we always advise our clients to add a “subject to finance” clause in the contract of sale before they sign it. The clause “subject to finance” will protect the purchaser by allowing you to terminate the contract and recover any deposit amount paid, if your loan is not approved by the finance due date. This is not usually applicable however if the property is sold at auction, or you are purchasing an off-the-plan property.