What is a Contract Review and why do I need a Contract Review?

Many people tend to ask the question “Is my Contract okay?” or “Is there something I should be aware about with my Contract?”. The answers to those questions are not very simple, even for the most basic Contracts. In many States there are standard form Contract templates which provide for standard terms for your conveyance, however even these include many terms that you may not understand and many circumstances that can catch you out in the future.  

A contract review before you sign helps you to understand what exactly you are signing and when you can get caught out. It will give you advice on what changes you should make to the Contract before you sign. If you want to protect yourself and fully understand what it is you are signing, then you should have your contract reviewed before you sign. 

Some contract reviews only take 5 minutes, or only speak on the basics such as building, pest and finance conditions. A proper review of your Contract covers all the topics in your Contract and will go for about 30 minutes. Before you choose who does your Contract review, ask whether your quote includes a full Contract review, how long it goes for and what does it cover. The more information you have upfront, the better positioned you will be for the full conveyance.