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Pre-contract advice

Pre-contract advice

Why should you seek pre-contract advice from a solicitor for Queensland property transactions?


Why seek pre-contract advice?

  • Understanding legal obligations: Property contracts can be complex and filled with legal jargon. A solicitor can help you understand your rights and obligations, ensuring you are fully aware of what you are agreeing to.
  • Identifying potential issues: Solicitors are trained to spot potential issues that may not be otherwise obvious. They can identify clauses that might pose problems down the track, such as those related to property defects, zoning issues, or restrictive covenants.
  • Ensuring compliance with current laws: a solicitor will ensure that your contract is compliant with the latest legislation, protecting you from non-compliance legal pitfalls.

What will a solicitor check in the contract?

  • Building and pest, finance and insurance clauses: Your solicitor will review clauses related to building and pest, financing and insurance to ensure they are properly included (where required), fair and reasonable.
  • Settlement terms: Your solicitor will examine the settlement terms to make sure they are clear and achievable. This includes the timing of settlement, the process for handling deposits, and any penalties for delays.
  • Special conditions: Many property contracts include special conditions tailored to the specific transaction. A solicitor will ensure these conditions are clearly stated and enforceable, and that they protect your interests.
  • Compliance with legislation: Your solicitor will ensure that all contractual requirements comply with current legislation, including any electronic transaction provisions.

What could happen if I don’t obtain pre-contract advice

  • Unexpected costs: Without legal advice, clauses that could lead to unexpected costs might be missed, such as hidden property defects or issues with zoning that require costly fixes.
  • Legal disputes: Misunderstandings or overlooked details in the contract can lead to disputes, which can be time-consuming and expensive to resolve.
  • Contract termination: If the contract does not comply with legal requirements, or if there are significant errors or omissions, the other party may have grounds to terminate the contract. This could result in financial loss and lost sale opportunities.
  • Lack of legal recourse: Without a solicitor’s guidance, you might inadvertently waive important rights or miss deadlines that could impact your ability to seek legal recourse if something goes wrong.

Engaging a solicitor for pre-contract advice is not just a prudent step—it’s a necessary one to safeguard your investment and ensure a smooth property transaction. Should you require assistance with your contract or have any questions regarding pre-contract advice, please do not hesitate to contact our friendly team on 1300 765 488.