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Like any contracts, once signed, both parties have an obligation to settle the contract by the appointed date. If the buyer is not able to do so, then generally you as the seller can enforce your rights against the buyer. This means that you would be able to claim penalty interest and damages caused by […]

As the seller of the property, you are obligated to provide to the buyer the property in the same condition as it was on the contract date. This means that if your property was clean and tidy when the contract was formed, then it also has to be delivered to the buyer in a reasonably […]

If you are not available to sign the contract, because you are travelling for work or is otherwise predisposed, you can nominate another person to sign the contract on your behalf. You can consider creating a power of attorney document that allows your representative to sign the contract on your behalf. If you choose this […]

However, if the reserve price is not met and the auction sale is passed in, you can also negotiate with the next highest bidder to come to a mutually agreeable purchase price.If your property is sold to the next highest bidder, then the contract would still be an unconditional one and not subject to the […]

A sale by private treaty is no different to asking for and accepting private offers to purchase the property. It is a common form of sale where any potential buyers can make offers to you at any time, you can consider each as they are made and determine if you have obtained the best offer. […]

An owner-built property is a property that is either fully or partially built by the owner of the property itself. The owner does not have to be a registered builder to be an owner-builder. There are additional disclosure requirements applicable if you are an owner builder. Hence it is very important that you tell your […]

The Victorian contract provides that all fixtures and fittings are sold with the real property, whereas the parties will need to specifically list out any goods (also known as chattels) that are to be sold with the land. In the absence of a detailed list of goods included in the sale, the buyer is only […]

Furnitures are generally not sold with the property because they are considered goods. If you want to sell the furniture or has been offered to purchase your furniture along with the real property, you can do so as a part of the same contract for sale of the property. All you have to do is […]

The general settlement period for a property sale in Victoria is 30 days after the contract date. This is generally enough time for the seller to prepare for the sale to be completed. This timeframe is also to allow the buyer sufficient time to prepare for settling, including to complete their due diligence and loan […]

The reserve price is a price that you set and inform the auctioneer. The auction will not be successful unless the bidders have given bids that are higher than the reserve price. Hence, it is important that you set a reasonable reserve price taking into consideration that if it is too low, you may not […]