The contract of sale sets the conditions of sale of the property. It contains the total price to be paid, the details of the deposit and when it is payable, the time and date of invoicing as well as any other special conditions agreed. The sales contract is only mandatory when the seller and the buyer have signed the document. Adding a sunset clause to the sales contract allows you to be sure that your offer has been accepted or declined until that date and time, so you are free to offer on other real estate. If you make an offer for another property while waiting to hear about your first offer, you could find yourself in a situation where both offers are accepted and you have committed to buying two properties. You can submit an unconditional offer, which means that no special conditions must be met, or you can include in your offer one or more conditions (which must be met before a given date). Ask your lawyer or intermediary to check the sales contract and any terms you include before signing it. These are a few common conditions: your real estate lawyer is qualified to advise you on all aspects of property in a de facto or subsequent marriage or partnership. In many cases, a written agreement is required to record each party`s intentions at the time of entering into a property contract. Any agreement must be certified and attested, and independent legal advice must be used by each party before it is valid. It is important for buyers to ask which chattels would stay in the house – if it is not on the chattel list, the seller has the right to take the chattel.
The products listed must be functional and in the condition they were in when you signed the sales contract. The risk: if the contract becomes unconditional without you carrying out due diligence on the property, if you find during the term of the contract that there are problems with the property, you do not have the right to terminate the contract. What we recommend: Before making an unconditional offer for a property, you should do some research to accurately determine the value of the property. We recommend using a licensed expert, who can conduct an independent assessment of the market on the basis of quantifiable facts.. . . .