The Importance of Reviewing your Contracts

The Importance of Reviewing your Contracts

Brisbane Solicitors, Hatzis lawyers, say that buying a home can be a very stressful process.

There are numerous pressures on even experienced buyers, especially in off the plan contracts.

 

A contract is binding once it is signed and some contracts are not legally protected by a cooling off period.

 
We recently opened two new conveyancing files. One was for an “off the plan” apartment (meaning that the apartment complex is yet to be built) and one was for an existing apartment.  The “off the plan” apartment contract was not signed, however the existing apartment contract was.

Serious issues were identified in both contracts.
 
In the off the plan contract we were able to successfully negotiate special conditions to the contract to better protect our client, and that contract was happily signed recently.

The contract for the existing apartment came to us already signed, and our client was open to greater risks than would otherwise have been the case if we had reviewed the contract before it was signed.
 
George Hatzis Solicitor says, the cheapest part of any legal transaction is at the beginning, not at the end.  A simple review of any contract before you sign can assist in simplifying the process and avoiding serious and costly issues down the track.
 
If you are thinking about signing an off the plan contract, contact our Property team at West End and speak to one of our Commercial Solicitors for advice before you sign the contract. Please emaill property@hatzis.com.au or call 1300 HATZIS (1300 428 947) .

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