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Tips, FAQs and pearls of wisdom from 20 years of legal experience. Be empowered to buy, sell and transfer property with confidence.
A key legal aspect of buying a property is the "buyer beware" principle. Here's what all purchasers need to know.
When and how is the deposit paid for a property purchase?
Aside from the rest of the purchase price, there are other things that must be paid for by the purchaser on settlement day.
One of the most important decisions for a property purchaser to make is when the settlement date should be. The goal is to ensure that the purchaser will be able to pay the remaining funds owing to the vendor on the settlement date.
A caveat is a legal notice, registered on the title of a property, declaring that someone has a legal interest in the property.
There are various ways a buyer can possibly terminate a contract before settlement occurs.
There are many legal loopholes that favour vendors; land tax is one of them.
Sometimes unusual access to a property is required before or after settlement, or in other circumstances. This occurs via a licence agreement.
If you are bidding on a property at an auction, remember the auction rules.