Hi,
I am looking to purchase a property off-the plan that will be settling in 12 months.
1. I was thinking of signing the contract in my name only. However, can I sign the contract in a way where I have the flexibility for another family member to purchase and settle the property at settlement if I choose not to?
2. Can I sign my name and the other persons name now on the contract and then insert a clause to allow one of us to be removed from the contract before settlement without stamp duty costs for that person? How could I word such a clause and who will insert this clause in the contract?
3. If I purchase in 2 names but the other person is not able to purchase in person can I sign on their behalf?
4. If I purchased the property and at month 6 I decided that I could settle the property but I needed to sell the property immediately due to an unrelated crisis. Can I organise to sell the property before my settlement on the purchase of the property. And if I found a buyer at month 9, can I organise to settle my sale on the same day as my settlement to purchase the property?
5. If I enter the contract to purchase and I know that I have the capacity to settle in 12 months but I have not yet decided on which financier I would like to use. What would I have to write in the contract in the area where it requests a financiers name? What is the latest stage at which I can choose a financier within the 12 month period and who and how do I notify about this selection?Also, when I do decide does the contract require a level of financial approval?
6. I am looking to purchase with a personal cheque for deposit. However, I would like to be able to replace this cheque with a deposit bond. Any ideas on how I could word such a clause. Is this clause written in or modified into the contract? Also, who does it the agent or my Solicitor?
I would appreciate any feedback
thankyou
I am looking to purchase a property off-the plan that will be settling in 12 months.
1. I was thinking of signing the contract in my name only. However, can I sign the contract in a way where I have the flexibility for another family member to purchase and settle the property at settlement if I choose not to?
2. Can I sign my name and the other persons name now on the contract and then insert a clause to allow one of us to be removed from the contract before settlement without stamp duty costs for that person? How could I word such a clause and who will insert this clause in the contract?
3. If I purchase in 2 names but the other person is not able to purchase in person can I sign on their behalf?
4. If I purchased the property and at month 6 I decided that I could settle the property but I needed to sell the property immediately due to an unrelated crisis. Can I organise to sell the property before my settlement on the purchase of the property. And if I found a buyer at month 9, can I organise to settle my sale on the same day as my settlement to purchase the property?
5. If I enter the contract to purchase and I know that I have the capacity to settle in 12 months but I have not yet decided on which financier I would like to use. What would I have to write in the contract in the area where it requests a financiers name? What is the latest stage at which I can choose a financier within the 12 month period and who and how do I notify about this selection?Also, when I do decide does the contract require a level of financial approval?
6. I am looking to purchase with a personal cheque for deposit. However, I would like to be able to replace this cheque with a deposit bond. Any ideas on how I could word such a clause. Is this clause written in or modified into the contract? Also, who does it the agent or my Solicitor?
I would appreciate any feedback
thankyou
I have so far had the agent do the contract with apropriate clauses inserted then taken that to my Solisitor to look at before the cooling off period is over.
