Buying by Private Treaty in NSW

[ani]

I've only ever bought at auction in NSW so I'm a bit lost.

A friend just got gazumped on a property and my feeling is that the solicitor took too long to do his bit.

Do most vendors expect you to sign a 66W to rescind the cooling off period?

How do you get round the soli wanting to check the contract before you sign or do you just cope with the few days before you sign the contract and hope you don't get gazumped?

Any info appreciated!

 

[Lofty]

Hi Ani

We usually sign the contract at the r/e agent's office as soon as the offer is accepted but we change the cooling off period to 10 working days instead of the normal 5. Then, as long as the agent gets the vendor to sign immediately, you're not going to get gazumpted and you have 10 working days for your solicitor to look the contract over. Good luck.

Cheers, Paul

 

[twobobsworth]

Most agents should be happy to do the exchange as there is less risk of losing the sale. Sounds like this wasn't the case with your friend which is unusual.