First home buyers should be cognizant enough of their rights in order to avoid being burned. Here’s a few that will help you.
• Get legal advice – have a lawyer look over any sale & purchase agreement before you sign it to flag potential concerns.
• Make an offer subject to as many conditions as you like.
• Once you’ve signed the agreement, it’s legally binding. But if it’s still conditional, you may pull out or renegotiate the price.
• Before an offer settles, you are entitled to conduct a pre-settlement inspection.
• Buying off the plans is a bit trickier – be aware of sunset clauses in developer’s contracts, do as much due diligence as you can & get constant updates.
• If something goes wrong, consult a lawyer, or complain to Real Estate Agents Authority.
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