WHAT SHOULD YOU LOOK FOR IN A SALES CONTRACT
                     WHAT SHOULD YOU 
LOOK FOR IN A 
SALES CONTRACT?
•A contract of sale contains 
information about the property such 
as the buyer’s and seller’s names, 
addresses, terms of sale, and 
inclusions. It includes all pertinent 
facts. Once signed, the buyer and 
seller are legally bound.      
•Buying or selling a home is no easy 
endeavor, and a contract of sale is at 
the heart of the entire process. It is 
the vendor’s responsibility to have 
the contract for sale ready before 
offering the property for sale.
WHEN PURCHASING 
LAND, WHO DRAUGHTS 
THE CONTRACT OF 
SALE?    
•A qualified solicitor or a licensed 
conveyance always prepares the 
contract of sale. Moreover, a 
solicitor or conveyance 
representing the other party 
reviews it. They do so to protect 
both parties during the transaction 
procedure.    
RELAXATION 
PERIOD   
•When a house or property is purchased at 
auction, the cooling-off period is not 
applicable. Cooling-off periods for private 
sales can also be arranged. Moreover, this 
period can be extended or decreased, or it 
can be deleted entirely from the 
terms of sale.      
•From the standpoint of a buyer, it is critical 
to obtain legal counsel, building 
inspections, and financing before 
exchanging contracts.     
•If the cooling-off period is not applicable, a 
written certificate from the solicitor 
indicating the effect and substance of the 
terms is required.     
PERIOD OF 
SETTLEMEN
T    
•The duration of property settlement 
between the exchange of contracts and 
the transfer of ownership and title can 
also have negotiation between the buyer 
and seller. This phase might be as short 
or as long as both parties require.     
•All Final legalities you must consider 
during the settlement process.     
•Before adding it to the sale of the 
contract, one can also negotiate the size 
of the deposit and the manner of 
payment.     
FIXTURES 
AND 
FITTINGS    
•The addition of more 
fixtures and custom-built furnitur
e  
pieces to modern homes has 
altered the meaning of permanent 
fixtures. The seller must determine 
what the owner intends by fittings 
and fixtures, which may or may 
not include home appliances such 
as sound systems, televisions, and 
refrigerators. Dishwashers, even 
though they are considered a 
fixture, should always be stated for 
clarity.     
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Pakenham Vic 3810
•Email:- [email protected]
•Phone Number- 03 5918 4315
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look-for-in-a-sales-contract/
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