In a soft property market we are seeing more people seeking to terminate real estate contracts.
What matters is how well the contract was prepared in the first place. It might be a standard contract but how it is completed can make all the difference when a dispute arises between the parties.
The subject to finance clause is often not properly completed in many real estate contracts which might mean that the contract is not subject to finance at all or unenforceable for uncertainty.
Encumbrances are often completed, Nil known. Fertile ground for a dispute.
Special conditions about things like, “prior sales” or “satisfactory search results” need even more care.
Whether you are buying or selling real estate in Queensland, ask for our Property Law Experts to look at the contract before you sign it.