Special conditions

Hey guys,
Was just wondering if you could "translate" these special conditions for me. They are on a sale contract for a property I am eyeing

2. The seller/s hereby irrevocably authorises and directs the buyer/buyers solicitors to draw a cheque payable to the Agents for balance of their outstanding fees and charges including commission as per Tax Invoice provided prior to settlement.

3. Electronic Settlement
The Buyer and Seller:
(i) Agree to an Electronic Settlement
(ii) Will use their best endeavours to have their respective Financial Institutions involved in the transaction to agree to an Electronic settlement (but are not liable if the Financial Institution does not agree if the Buyer or Seller complies with this subclause); and
(iii) If the Financial Institutions involved in the transaction agree to an Electronic Settlement, will not withdraw from participating in the Electronic Settlement unless clause 11.5(2) of the Terms of contract applies.

 

Pretty much it says - Always get a solicitor to give legal advice on the term, unfavourable terms and the omitted terms to a contract you may desire. A solicitor may suggest you dont act on clause 2. ie allow their agent to deduct their fee from your deposit

 

Fair enough. Thank you