- Terryw wrote:If you know a lot about property law you could draft your own contracts. But what if you leave something important out and then go to your solicitor after the purchaser has signed – you will be locked into a costly mistake maybe. eg. You come to the settlement period and the purchaser says they don't want to proceed now and is rescinding. You having relied on the money from this sale coming through to settle on the next one and then that falls over too.
I don't know a huge amount about property law, but when it comes to working with REIQ contracts, it is basically all there in clear english, Just need to add in property details etc which is not hard, when it comes to special conditions this is when I would get on the phone to my solicitor and see what is required, if it is lengthy then I would have my solicitor either send me through an email and I would cut and paste it into special conditions or if it is quite complex then I would let the solicitor do the entire start to finish job, but as for the sale or purchase of a property subject to finance or what ever then this is easy.
I've purchased properties where the agent has stuffed up on fulling the contract in correctly also solicitors.Hi Joe,
I’m no expert however you seem to be ignoring the advice from contributors on this site who do have a lot of experience in setting things up correctly to ensure that you don’t get burned. You seem to want to do this on the cheap instead of making sure that you have covered everything that could possibly go wrong.
If I was you I’d be re-thinking doing this yourself.
Landt.Hi Terry.
Yes I understand and appreciate your comments but what I was asking was if there was a template, or something I HAVE to do myself. keiko pointed out that it can be done with a template and this is exactly what Im looking for mate. No offence mate, and besides you always provide very very useful advice and a forum without people like you is pointless.
Can I just point out to everyone that I was not looking for advice, I wanted to find a template. I appreciate the advice, but I wasn’t asking for it.
thanks.Hi Joe
Just worried that you will be missing something if you do it yourself. The contracts for NSW and other states are standard. But that doesn't mean nothing needs to be added to them. Special conditions are in each contract that I have seen. So if you do it yourself how are you going to draft these special conditions? How are you going to know if a search you have included is valid and therefore how do you know your contract is even valid?
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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