Somersoftians,
When I bought my IP in queensland, I provided a deposit of $1000 when I signed the contract. Does the same process apply here in NSW? or is there a limit amount that you must provide when signing a contract? This will be for a private sale, not auction.
Also, when I signed the contract in QLD, I immediately got my home insurance (coz I was liable if anything happened). Same in NSW?? I read this on a copy of a contract of sale:
"The vendor should continue the vendor's insurance until completion. If the vendor wants to give the purchaser possession before completion, the vendor should first ask the insurer to confirm this will not affect the insurance"
"the purchaser should arrange insurance as appropriate"
When I bought my IP in queensland, I provided a deposit of $1000 when I signed the contract. Does the same process apply here in NSW? or is there a limit amount that you must provide when signing a contract? This will be for a private sale, not auction.
Also, when I signed the contract in QLD, I immediately got my home insurance (coz I was liable if anything happened). Same in NSW?? I read this on a copy of a contract of sale:
"The vendor should continue the vendor's insurance until completion. If the vendor wants to give the purchaser possession before completion, the vendor should first ask the insurer to confirm this will not affect the insurance"
"the purchaser should arrange insurance as appropriate"