Did You Know…

That a Contract of Sale for a Real Estate Transaction, can have a number of conditions that can affect both the Seller and the Buyer.

Conditions are any written requirements on a contract that are agreed in writing by both the Seller and the Buyer.

For example, some common conditions may include;

• Settlement Date
• Deposit
• Chattels
• Finance Approval
• Structural Report
• Termite Report

There are many others that can also be included, but the most important points to remember with all conditions are;

• Who is paying and responsible for the conditions to be satisfied
• What is to be completed
• When is it to be completed

Another important point to remember is what happens if the “Who, What and When” are not satisfied.

Clear and concise written conditions, signed/initialled/dated by all parties of the contract are very important, so to avoid any problems or delays nearing settlement.

If you would like to discuss the above, or require an up to date Appraisal of your property, please contact Scaffidi Real Estate at your convenience.