The Purchase Contract:
Even if you are capable of doing a conveyance yourself, it is very time consuming to do it on a "one-off' basis, and of course it is much harder to be objective about your own matter.
At Pearson & Associates Solicitors, we are confident that we can make the transaction as effortless as possible. We save you the time and stress by ensuring all your obligations (and the other party's obligations) under the Contract are carried out on time.
What Kind Of Problems Can Arise?
It is impossible to tell what might go wrong in the period after you sign the Contract. Some problems are frustrating, such as bank delays advising about your finace, the other party or the Local Council. You can never feel totally at ease until settlement is over. Here are some fairly common problems experienced during a purchase:
- Delays in obtaining a particular search in time for settlement.
- A search result is unsatisfactory. What does it really mean? What does the Contract say you can do, if anything? Can this be fixed? Can I get compensation? How much is all of this going to cost?
- Special Conditions of the Contract have not been complied with.
- The other party has not done everything they are obliged to do under the contract. What can you do about it? Should you settle the matter without getting the problem fixed? How much is all of this going to cost?
- The Sellers did not sign the transfer documents properly.
- The bank, the other party, the Council or some State Authority makes a mistake.
- The address or the real property description of the property is wrong.
- The person who signs the Contract does not own the land.
- The person who signs the Contract, although the registered owner, is not entitled to sign the Contract because he or she is bankrupt or their mortgagee is in possession of the property.
- One of the parties needs an extension of time for something. Unless this is done properly, the contract can lose "time of the essence" so that it becomes a complicated procedure to force the other side to settle.
To appoint us as your solicitor, simply tell the real estate agent, who will then fill in our details on the Contract. Once the Contract is properly signed, the real estate agent will post it to us, or fax it to us. We will then contact you as outlined above.
