Browse Forums Buying Land Re: Signing contract for vacant land prior solicitor review 2May 17, 2017 3:53 pm Didn't the agent tell you how long he/she is going to take the lot off the market? When I bought a vacant land in QLD, my sales agent took the lot off the market for a week - not sure if this is the case in NSW too. Once she was trying to push me to sign contract, I just didn't really care since I want to see my contract, read carefully and think about any implications that comes with it. There is 5 days cooling of period in QLD, but I didn't want to exercise it My solicitor didn't review my contract but pointed me to read the special conditions/clauses. To answer your question, not sure if that is common in NSW. It's just a matter of whether you've got something to lose or not if someone beats you in signing the contract once the sales agent make it available again to any buyers - assuming in NSW also has the same practice. Re: Signing contract for vacant land prior solicitor review 3May 17, 2017 4:03 pm This could be because Land is selling like hot cakes in Sydney. I would consult my builder so I know the house I want will fit in that lot. Land contract are pretty standard. You may have solicitor already I assume, see if they can run through the contract before tomo. Re: Signing contract for vacant land prior solicitor review 4May 17, 2017 4:25 pm faykis We put down an offer for a vacant land. The vendor is asking to sign the contract tomorrow prior being reviewed by our solicitor. The Realestate agent said that our solicitor can review contract afterwards and if any issue arises, we can cancel it within the 10 days cooling off period. he was saying this is a common practice in Marsden Park area. Does it sound fishy? Or is it a normal practice? Hi, Is the land registered or off the plan? If the deposit is refundable sure sign the contract with a cooling off period of 5 to 10 business days if you change your mind. However if the deposit is not refundable the vendor solicitor should be able to send an electronic copy of the contract to your solicitor. I deal with a lot of land purchases so my caution is the devil is in the details of the contract. Kind Regards, Bruce "Building an Eden Brae Waldorf 50 in North Kellyville" Blog: http://waldorf50.blogspot.com.au A Mobile Solicitor at Wong & Horta Lawyers Website: http://www.whlawyers.com.au Re: Signing contract for vacant land prior solicitor review 6May 17, 2017 4:46 pm faykis Thanks Wongbruce its a registered lot in Greenway Living Colebee If it's registered a contract should be made available prior to signing. Kind Regards, Bruce "Building an Eden Brae Waldorf 50 in North Kellyville" Blog: http://waldorf50.blogspot.com.au A Mobile Solicitor at Wong & Horta Lawyers Website: http://www.whlawyers.com.au The worst thing you can do is sign a building contract without a pre contract review. Over the years many people have come to me with disputes where they just signed… 0 8339 i thought the flipped plan initially but bec i want narrow pathway from entry to dining (dont like bend), also cannot fit the… 7 17278 It is true that a builder can ignore your independent inspection report as it is not part of the contractual arrangement but that is stupid because he cannot avoid fixing… 9 46854 |