Contract of Sale

Every property which is advertised For Sale is required to be accompanied with a draft Contract of Sale outlining the conditions of sale. A final Contract of Sale will be prepared as soon as the buyer and seller have agreed on the final conditions of sale.

A contract of sale usually includes the following information;

• The seller’s name(s)
• Blank space for buyer’s name
• Solicitor’s name (if any)
• Agent’s name (if any)
• The type of title
• Details of items included with the sale
• Details of items not included with the sale
• The sales price
• Exchange of Contract date
• Settlement date
• Notifications from authorities
• Details of tenants
• Special Conditions

We strongly recommend that all property owners seek the services of a Solicitor or Conveyancer to prepare the Contract of Sale. Although there are many Do-it-Yourself (DIY) Conveyancing kits which can be used to prepare the Contract of Sale, the legal system is quite complex and the experience of a professional in this field can never be overlooked.

The added benefit of a Solicitor or Conveyancer preparing the Contract of Sale is that they can deal directly with the buyer’s Solicitor which should result in a quicker exchange of contracts.

By engaging the services of a professional to create the Contract of Sale you can be assured that all the terms and conditions agreed to with the buyer in regard to the sale of the property are correctly documented and executed.