I have been looking over a few contracts in the last few weeks. They suck
Ok, I understand they don't have the often supplied DP, sewerage, survey, attached to NSW contracts
, but the contract itself is friggin hopeless and missing important info. Maybe Qld'ers see the positive side, and I can see how it is more open to negotiation between parties for a private sale, but for auction
And REA writing contract instead of solicitors, hey why not get the lawn mowing guy to write it using some clauses his solicitor used on a previous sale!
I queried with one agent why the vendors name was not included when I got the first contract (private sale). I was told it would be added when contract was completed. None of the 4 contracts I have received have this. Why hide owners name?
Houses going to auction:
- Deposit amount not included. Why not have an amount so buyer knows what owner would like, then negotiate like in NSW for otherwise!
- Sellers solicitor not included. Now I have to ask, or at least find out suburb to try and ensure we are not going to use same one!
- Default interest rate if none stated (none is), need to refer to Qld Law Society to find out what this is!
- Settlement date - none supplied. Is it 28 days, 42 days, Aunty Jane's birthday!!
One contract for a house going to auction states in clauses is is not subject to cooling off period as not a relevant contract pursuant to the Property Occupations act 2014 Qld. What
I guess this just meant no cooling off period, did not expect any due to auction but why not say this instead of having to read some act. Another house going to auction by same REA did not have this clause as contract had been prepared by another agent!!!!!
House I am currently considering does not have anything relevant to auction terms in the contract, not even in std Terms Of Contract at bottom of std contract, v 12/14. I asked agent for auction bidding notice like you must be given in NSW when attending auction explaining the basic terms, I was told there was none!! This seemed ridiculous so I googled "buying at auction in Qld" and found Qld Government web page and among this I learnt that if a property goes under contract within 2 days of auction and buyer was registered for the auction there is no cooling off period, no subject to xxxxx! I'm not sure what the time period is in NSW, (think it is the same day) but NSW is not relevant when buying in Qld. I had to google to find this out, what else is there I am not aware of and should be. Strewth, you call this consumer protection, what a friggin joke! Good thing I found this out as I expect to negotiate after being passed in and will want a P&B to up my offer.
I'm sure I will find some more frustrating methods before the week is out.