CONTACT US BEFORE YOU SIGN
When you are selling a property, we strongly recommend you give us the opportunity to look at the agreement for sale and purchase (“agreement”) before you sign it. Once you sign an agreement you are bound by its terms with either no or only restricted rights to get out of it. By having us look at the agreement first we can make sure that you avoid any pitfalls. Getting things right at the outset will save you time and money. We will be able to check an agreement for you quickly if you fax or email it to us.
Solicitor’s approval clauses can be helpful as they can enable us to negotiate certain aspects of an agreement. However, a solicitor’s approval clause is not a guaranteed “out clause” that enables cancellation of the agreement. We therefore recommend that you contact us before signing any agreement.
Things We Will Consider
Below are some things we will consider and discuss with you when we check the agreement:
- Are the warranties or promises you are giving about the property accurate?
- Should the agreement be subject to any conditions in your favour (e.g. you buying another property, you giving required notices to any tenants where the property is tenanted and you are selling it with vacant possession, your bank agreeing to release its mortgage etc.)?
- Are the terms of the agreement legally enforceable?
- Has the property been described correctly?
- Is the chattels list accurate?
- Are there satisfactory provisions in your favour if the buyer breaches the agreement?
- Do you need tax or accounting advice in respect of the sale of your property?
Other Matters
It is especially important that you give us the opportunity to look at the agreement before you sign if:
- You are selling at auction or by tender.
- The property is a farm or commercial property.
- The property is in the process of being subdivided.
