Hi, new here and just after some advice on purchasing my second property.
I have found an apartment in Melbourne's northern suburbs which was advertised as a private sale at a certain price. The property had only been on the market 3 days and as I have been looking for a long time and am happy with the price I agreed to purchase the property at that price as I was confident if I did not get in first I would lose it, however the contract of sale isn't even out yet.
After speaking with the rea I sent an email with my details and the offer and have agreed to purchase it subject to finance and subject to review of the contract by my solicitor once it becomes available.
The rea called me and said I can come in on monday and sign some paperwork and leave a small deposit ~$1000.
Now as the contract of sale isn't even available until later in the week obviously I won't be signing that, I'm assuming it will be a document stating I wish to purchase the property at a certain amount and subject to review of contract and finanace. My query is, should there be something in the contract such as a caveat or anything I am not happy with, does the fact I said 'subject to review of contract by solicitor' allow me to withdraw and receive my deposit back? How much strength would that statement legally give me?
Thanks in advance and if there is anything I should be doing which I havent covered I'd be thankful for any extra advice. Cheers
I have found an apartment in Melbourne's northern suburbs which was advertised as a private sale at a certain price. The property had only been on the market 3 days and as I have been looking for a long time and am happy with the price I agreed to purchase the property at that price as I was confident if I did not get in first I would lose it, however the contract of sale isn't even out yet.
After speaking with the rea I sent an email with my details and the offer and have agreed to purchase it subject to finance and subject to review of the contract by my solicitor once it becomes available.
The rea called me and said I can come in on monday and sign some paperwork and leave a small deposit ~$1000.
Now as the contract of sale isn't even available until later in the week obviously I won't be signing that, I'm assuming it will be a document stating I wish to purchase the property at a certain amount and subject to review of contract and finanace. My query is, should there be something in the contract such as a caveat or anything I am not happy with, does the fact I said 'subject to review of contract by solicitor' allow me to withdraw and receive my deposit back? How much strength would that statement legally give me?
Thanks in advance and if there is anything I should be doing which I havent covered I'd be thankful for any extra advice. Cheers