Solicitor due dilligence before signing contract?

Should this be done before submitting an offer/ signing offer contract?

 

Share house type queenslander house, would it be better to see a solicitor first?

 

Talk to a solicitor or conveyancer about the specifics in the state you're purchasing. It's always a good idea to do due diligence sooner rather than later, but in Victoria you do get a 3 day cooling off period.

 

Get legal advice before entering contracts

 

It would be the first cab off the rank before the ink is dry..And as most we have dealt with over the years,if you use the same legal firm just forward the contract so they have a look then advise "Sign" or walk most times that first part is free..Then if something completely unexpected happens ,the downside is small % wise and easily controlled ..good luck..imho..

 

How is this even a question? Seek legal advice before entering a contract if you are unsure what you get getting yourself into.

It is like saying should I get myself tested after I get into bed with a street worker or should I use protection?

 

You could always rely on any cooling off period to terminate the contract, but that can be costly.

 

Having a legal representative have a read through the contract to help you understand any general and special conditions is a good idea.

You may not be aware of being able to add in certain clauses to said contract that would add some extra protection so having your legal rep add these in for you is recommended.

 

The question was do you get a solicitor to do due dilligence before signing the contract or can you put it as a condition in the contract

 

Depends on where you’re buying, and at what stage the market is in.

For example it changes by city/ state:
E.g:
Melbourne for example you do it all before making an offer.
Brisbane you put in a clause in the contract to do it after making an offer.

Each state has its own standard version of the contract of sale and order of doing things. Adelaide you do it after an offer but Sydney is best done before (and the buyer pays for the searches)

Furthermore, market cycles deem what you can get away with:

Hot/ sellers market: get D.D done before (less conditions means stronger offer)

Balanced market: depends on the proeperty’s level of demand

Cold/ Buyer’s market: put as many clauses as you want.

 

Before.

How would you know how to word such a condition.

 

If you are not familiar with the contract, you ask them to review it, frankly, they also should be the one doing it all with the vendors solicitor.....in NSW at least.