What Sydney-siders need to know about buying property in Melbourne

Many Sydney peeps are fed up with their uber expensive property market and are heading south of the Murray. But property law is State-based and there are significant differences to be wary of.

For instance: in Victoria, once the contract is signed, the deal is done. The contract contains all the terms and conditions about your property purchase, including any building and pest inspection clause, finance approval period and the settlement date. All of these items are up for negotiation between the parties. If it’s not in the contract, it is not part of the deal. This is different to NSW, where the process and timeline are dictated by the law (outside of the contract).

Never sign a contract without getting legal advice first: once you sign, it’s too late to negotiate any terms or add any special conditions.

More tips for Sydney peeps in my latest blog, link below.