This week’s episode is very close to my heart. Not only because I’m a conveyancer and reviewing contracts is what I do every day but mostly because I have seen so many times how things can quickly go wrong when people cut corners.
Buying a property is a very serious transaction and it shouldn’t be taken lightly. Not understanding contract terms, it’s implications is something that can be easily avoided if you engage a conveyancer to have the contract reviewed. You need to be aware of what the terms are, so that you are not surprised at settlement or even after settlement has taken place, because some contract terms can have impact on you even after you purchased the property.
In this episode I give real life examples of issues that I have come across in the contracts. Some of them are serious deal breakers and if you buy such a property, consequences could be dire. I’ve been asked many times to “cast my eyes” over the contract. Just like a doctor can’t give a diagnosis in 5 minutes, a contract needs to be reviewed thoroughly otherwise things can be missed or overlooked.
This episode is not designed to scare you but to make you realise that a conveyancer is on your side and should be someone that you reach out to as soon as you want to buy a property. At the end of the day, you are buying a property that will be either your dream home or your source of income, if you are an investor and therefore you want to make sure that you had the contract reviewed and are satisfied that all is in order.