All Topics / Help Needed! / Conteact note? evil?

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  • Profile photo of as41as41
    Participant
    @as41
    Join Date: 2005
    Post Count: 108

    The R.E agent selling an IP I wish to put an offer on wants to use Contract notes… I am a bit sus… Can anyone fill me in on these and what I should be doing????ADVICE NEEDED!!![jealous]

    Snowflake

    Profile photo of as41as41
    Participant
    @as41
    Join Date: 2005
    Post Count: 108

    Isn’t anyone willing to help me out here? Please![inlove]

    Snowflake

    Profile photo of crjcrj
    Participant
    @crj
    Join Date: 2004
    Post Count: 618

    The contract note will be a legal offer and binding on you when accepted by the seller. My advice is you should show the contract note to your solicitor.

    Profile photo of CallanderCallander
    Participant
    @callander
    Join Date: 2005
    Post Count: 33

    Contract Note is basically a contract. dont know about other states but in Vic i have purchased prop and the agent has used contract notes. usually have a 3 day cooling off period in them so best to check this before signing and then take to your Solicitor for then to check the Section 32 & contract note. Its usually a standard form produced by the REIV (in Vic) for agents to use. im not aware of any issues with them. the same as a contract ensure that any clauses (eg. finance, building etc) are included before signing.

    Profile photo of HutchHutch
    Participant
    @hutch
    Join Date: 2004
    Post Count: 137

    hi as41,
    It may sound ‘Evil”. But don’t be scared of a ‘Contract Note’. In Vic. It is just a fancy name for a standard form contract to purchase.

    Of course, like all transactions, have you conveyancer/solictor peruse first before signing.
    good luck

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