When a buyer finds a property they wish to purchase the buyer has requirements to satisfy to enable them to purchase the property, likewise, the seller will also have requirements to satisfy in order to enable them to sell the property.  To satisfy the parties requirements a Contract is prepared and the terms and requirements to form a Contract are negotiated.

The complexity of the negotiation will be influenced by the property in questions.  Issues surrounding easements, road resumption, canal blocks, extensions, renovations and ceiling heights, are just a few examples that can influence and complicate the negotiation significantly.

Times and Dates are also extremely important factors in property conveyancing.  Special Conditions may also form part of the Contract.  If both parties do not agree to each other’s terms and/or conditions these details are negotiated and agreed upon to form the Contract.

A.L.F. Lawyers regularly assists clients in understanding the potential impact of these challanges prior to contracts being prepared and signed, giving our clients a higher level of confidence and understanding in the transaction.

A cooling off period applies to Queensland contracts, however there are costs that must be considered.

Even after the Contract is entered into if either party is not able to satisfy a requirement of the Contract then the parties may be required to re-negotiate the term/s of the Contract to continue with the settlement of the property.

Should there be an issue with a condition of the Contract which could arise from a Pest and Building Inspection Report, Due Diligence investigation, search result or non-disclose encumbrance, the parties have rights under the terms of the Contract.

There are many issues that can occur when purchasing or selling a property can be a difficult and stressful time.  Our goal is to eliminate and where necessary manage any problems that may arise by providing you with the right advice.