It is so exciting when people looking for a new home in Cairns finally find the right property for sale at the right price.
Usually, there is an agent involved who has introduced the purchaser to the property.
As the agent is working for the seller he or she tends to have a vested interest in getting the property sold as quickly as possible.
Once the purchaser has agreed to make an offer to purchase the property, the agent will then prepare a Contract between the seller and the purchaser (the agent may first require the purchaser to complete a form with his or her written offer).
Any written offer and the Contract must be drafted in a way that stipulates any conditions that the purchaser requires, such as building and pest and finance. It is important that any other items that are to be included with the sale of the property, such as pool furniture or large potted palms, are included in any written offer and the Contract.
Transparent Property Ownership Transfers With Cairns Conveyancers
The settlement date is also very important. The purchaser may require the settlement date to coincide with the settlement date of a property it needs to sell first in order to purchase its new property in Cairns, Qld.
If a purchase does not settle on the date stated in the contract, there can be a number of consequences that flow for the purchaser, including, that the seller may be entitled to terminate the Contract, affirm the Contract and/or sue the purchaser for damages.
It is quite common for a purchaser or seller to be unable to settle on the settlement date stated in their contract, typically on account of delays with their respective banks. Where a party requires an extension of the settlement date, the other party to the Contract may impose conditions on their consent to the extension, such as interest. Oftentimes, the party requiring the extension has no choice but to accept the conditions imposed upon them to avoid the risk of losing their Contract.
Agents in Cairns act for the seller and not the purchaser. Therefore, a contract between a seller and purchaser may be drafted in a way that does not serve the best interests of the purchaser.
Get Solid Advice Before You Buy Or Sell
Dealing with real estate and property in Cairns can be daunting. With the right advice, you know you will make the best possible decisions and avoid potentially costly mistakes.
Cairns Conveyancing Solicitors is a practice group of Cairns-based law firm Preston Law who offer fixed fees with no hidden costs and no surprises.
If you want the certainty of a fixed conveyancing fee, provided to you in transparent terms so you know exactly what you are getting and at what price, contact our Conveyancing Team for an obligation free quote.
Free Contract Review
Signing a contract is a big step. Reduce the risk of expensive complications with an obligation-free contract review by one of the team at Cairns Conveyancing Solicitors.
1/15 Spence St, Cairns City QLD 4870