• Mastermind Jo’s NZ trip
• Learnings from our recent sale: contract clauses and building inspections
• David Johnston of Property Planning Australia on making intelligent and informed property decisions

Quick Tip & Action

• Go to your state-based real estate institute website and download a copy of a standard contract and review it so that you are familiar with the content of contracts.

Kaz’s Sample Email 

This is an extract taken from an email I sent back to the real estate agent after reviewing the contract that had been prepared. Don’t be afraid to ask for changes like this – but be sure to consult your professional team!  I’m not a lawyer or a conveyancer and I’m simply sharing things from my experiences – you must consult your own professional team members.

Thanks for sending this sample contract and vendor statement through for review. 

Just a couple of things:

Special Condition 1- Building Clause

Can you please change the second sentence from:

“If the report shows a structural defect, the Purchaser may end This contract, but only if the Purchaser serves written notice on the Vendor Together with a copy of the report by 21/03/2011.”

to

“If the report is not to the satisfaction of the Purchaser, the Purchaser may end this contract, but only if the Purchaser serves written notice on the Vendor together with a copy of the report by 21/03/2011.”

Special Condition 2 – Pest Clause

Can you please change the second sentence from:

“If the report shows past or present pest or termite infestation the Purchaser may end this contract but only if the Purchaser serves written notice on the Vendor together with a copy of the report by 21/03/2011.”

to

“If the report is not to the satisfaction of the Purchaser the Purchaser may end this contract but only if the Purchaser serves written notice on the Vendor together with a copy of the report by 21/03/2011.”