There are two situations where A.L.F. Lawyers are able to assist our clients when it comes to contracts.
The first is where a client who is ready to sign a contract, would like A.L.F. Lawyers to review their contract prior to their signing.
The second is where a client is considering buying or selling a property and seeks our advice on what terms and conditions should be included in the contract.
As a buyer or seller, you have a legal right to have your Contract reviewed by a Solicitor before signing the Contract to ensure that you fully understand the terms of the Contract before it is signed and you are legally bound to purchase or sell the property.
The Contract document is a legally binding agreement between the buyer and seller. Important information including but not limited to, the parties’ entire names and contact details, contract price, deposit amounts, encumbrances, tenancy details, swimming pool requirements, regulations pertaining to safety switches and smoke detectors, finance amount and financier details, inspection conditions, settlement date and place for settlement. A Contract also includes any special conditions or disclosures required by the parties. All of which are vitally important to form a legally binding Contract of Sale.
It is important to remember that once the contract is signed by the buyer and seller you are bound by its terms. If these terms are not in accordance to what you thought had been agreed, then sadly you are bound to these terms.
Having your contract reviewed by an experienced legal professional prior to your final signature ensures that you fully understand the terms in which you are agreeing to buy or sell your property. Whilst at first glance a contract can appear to be relatively simple, it is always in your best interest to ensure that an experienced person in conveyancing matters ensures your legal rights are protected and that the party understands the terms of the contract.
Agents are not qualified to give legal advice to the parties and cannot represent the legal rights of the parties. The notion that any contract is a “standard” contract can be misleading.