Hi guys,
So I was going in to sign for a parcel of land tomorrow... suggestions from Rolf were to engage a lawyer last night to review contracts etc, but obviously being a newbie to the game it never crossed my mind as everyone signs for these off the plan estate land sales....
So given all I had was this weekend, I was hoping seasoned investors /purchasers or even those of a more legal background could have a quick squizz for anything susipicious, out of the ordinary for a buyer, or downright dangerous in:
1) Contract for sale
2) Offer and Acceptance form (I notice strata title in the header title - I was told this is a green title land lot not strata title, which I heard is more favourable being green)
3) Got attached a joint form of general conditions 2011? First I heard of it?
I'm more specifically confused how to properly filll out the Offer and Acceptance form... I know i am Lot 16 but what "whole/part" or "vol/ folio" to fill in on the form eludes me.
With the settlement date section - do I just go with the suggested date of the developer i.e. when titles are released, or do you have to write a physical date down as a definite?
What also (as an example) would one list under " Property Chattels including"... is this n/a for purchasing land obviously?
I have a family friend who runs a settlement agency, is this the same person to be nominated under "Conveyancer".... or is this meant to be a lawyer or someone within a bank (i haven't found what lender I will be using for pre approval/the settlement funds yet - still want to shop around).
I have had a look through the contract for sale... only thing I noted was no engineering plans were finalised or council plans approved... so the stage 1 plan shows no easements planned... agent mentioned maybe we could write something into contract for sale (but what???and how?) regarding easements, but obviously then my $2k deposit would still be paid?
Some more experienced/legal opinions would be much appreciated on how to best approach all these (the unknowns e.g. easements) or just plainly how the contract looks like? Not a private seller so I assume they aren't out to rort your money.... but just wanted to be safe. I note re: easements, the contract is pretty open catch all (along the lines of if one pops up , too bad - is this the norm?)
Attachments below. THanks.
Please note that page 22/25 of the contract, the lot numbering is incorrect relative to the seperate stage plan numbers - per seller. The incorrect lot number shows as 9 on page 22 (next to the corner lot number 10). However, should be 16 per the stage 1 plan released seperately.
So I was going in to sign for a parcel of land tomorrow... suggestions from Rolf were to engage a lawyer last night to review contracts etc, but obviously being a newbie to the game it never crossed my mind as everyone signs for these off the plan estate land sales....
So given all I had was this weekend, I was hoping seasoned investors /purchasers or even those of a more legal background could have a quick squizz for anything susipicious, out of the ordinary for a buyer, or downright dangerous in:
1) Contract for sale
2) Offer and Acceptance form (I notice strata title in the header title - I was told this is a green title land lot not strata title, which I heard is more favourable being green)
3) Got attached a joint form of general conditions 2011? First I heard of it?
I'm more specifically confused how to properly filll out the Offer and Acceptance form... I know i am Lot 16 but what "whole/part" or "vol/ folio" to fill in on the form eludes me.
With the settlement date section - do I just go with the suggested date of the developer i.e. when titles are released, or do you have to write a physical date down as a definite?
What also (as an example) would one list under " Property Chattels including"... is this n/a for purchasing land obviously?
I have a family friend who runs a settlement agency, is this the same person to be nominated under "Conveyancer".... or is this meant to be a lawyer or someone within a bank (i haven't found what lender I will be using for pre approval/the settlement funds yet - still want to shop around).
I have had a look through the contract for sale... only thing I noted was no engineering plans were finalised or council plans approved... so the stage 1 plan shows no easements planned... agent mentioned maybe we could write something into contract for sale (but what???and how?) regarding easements, but obviously then my $2k deposit would still be paid?
Some more experienced/legal opinions would be much appreciated on how to best approach all these (the unknowns e.g. easements) or just plainly how the contract looks like? Not a private seller so I assume they aren't out to rort your money.... but just wanted to be safe. I note re: easements, the contract is pretty open catch all (along the lines of if one pops up , too bad - is this the norm?)
Attachments below. THanks.
Please note that page 22/25 of the contract, the lot numbering is incorrect relative to the seperate stage plan numbers - per seller. The incorrect lot number shows as 9 on page 22 (next to the corner lot number 10). However, should be 16 per the stage 1 plan released seperately.