Legal responsibilities when buying/selling a property

The General Conditions within a Contract of Sale cover important contractual obligations for both buyer and seller. This is a formally printed document and not usually varied.

However, within the contract there is a section relating to special conditions which you can add conditions to meet the needs of both buyer and seller by documenting specific points of agreement over and above the standard general conditions

Special conditions may cover issues about property inspections such as building or pest inspections; who pays for necessary repairs; or anything else important for either buyer or seller.

Any special conditions made within the Contract of Sale should be as precisely worded as possible and you may wish to seek legal advice to ensure this. If the offer is accepted, these conditions must be satisfied, or the sale may not be completed.

Because timber pests can cause costly damage to a property, it is recommended that you as a purchaser put a special condition in the contract requiring that a timber pest inspection report be prepared.

In order to make the terms of the inspection clear and verifiable, it is best to put your requirement for a timber pest inspection report in the contract as a special condition, rather than relying on verbal agreements with the seller. The special condition should state that if termite activity is sufficient to cause, or have caused, damage then the contract of sale can be cancelled or the seller made liable for any loss incurred.

Click here to view an example of a Pre-purchase Timber Pest Inspection