Contract sale date

[aarondwyer]

Hi all

I am going to sell some land that I have but have only held it for 10months.

I will wait another 2 months first before offloading it, to get the 50% cgt exemption.

My question is this.

An agent has presented me with a buyer that wishes to sign the contract post-dated 2 months in the future to secure the land, knowing that I won't countersign until mid December.

Is this legal to do this?

Ta
Aaron

 

[Brenda Irwin]

I don't see any problem with that since the contract will only become valid when you counter sign it. Until then it is not a binding contract, mind u that is just my opinion and legally I haven't a clue.

PS Don't forget the 12 mths goes from contract date to contract date not settlement date to settlement date.

 

[abcdiamond]

Aaron

I'm no expert either, but i have been involved in a post dated contract before (not property though) and my solictor didn't have a problem.


Do you want to sell at todays price ?

With the way prices are moving, are you happy with the price today, or would you rather wait two months ? and see what the price is then?

Obviously your buyer is happy with todays price, but paying it in two months time..