Central Coast Conveyancing

Buying a New House on the NSW Central Coast: 3 Important Contract Considerations

Buying a house on Central Coast? Read this…

The NSW Central Coast has become a haven for people looking for a sea change and an escape from the daily hustle of city life. The area has many appealing features; great weather, idyllic green areas, pristine waterways, and plenty of things to do and places to eat out on a leisurely weekend.

Essentially, you have all the convenience of city life, but without the noise and crowds. Plus, the property market in the area is booming, so there are opportunities for capital gains. Before you can get to relax in your new home by the coast, you need to ensure your contract is in order.

Use this advice from a professional Central Coast conveyancing service.

Get your contract reviewed by a professional third-party

Unless you have a degree in property law, you may not understand all the terms outlined in the contract. Getting it reviewed by a third party who can explain everything in terms you can understand is highly recommended. This way, you won’t get caught with any expensive surprises.

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Make sure the contract clearly states the sale conditions

You want to make sure you are getting what you paid for and that you are protected should the condition of the property change between you signing the contract and settlement. For example, the vendor may remove things like light fittings and curtains unless otherwise stated. You also want to be protected against any loss or damage before you take possession of the property.

Check special conditions

The vendor can add special conditions related to the sale of the property. A popular condition is a contract being subject to finance. Many people have come undone because they couldn’t secure finance after signing. You may also be subject to penalties, such as forfeiting your deposit.

It may seem obvious, but typos happen, so other details you should check for accuracy are property price, initial deposit, payment terms and conditions, and loan details. If you don’t understand something, never assume that you are in the clear and always ask for clarification until you are sure.

Need help in buying a house in Central Coast NSW?

You can make the whole process go a lot smoother by working with an established Central Coast conveyancing service. Platinum Conveyancing Services will always put your interests first and won’t add any hidden surprises. We also offer FREE contract reviews in order to alert you of potential property issues before you commit. We welcome you to contact us today.

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