WHAT SHOULD YOU LOOK FOR IN A SALES CONTRACT?

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WHAT SHOULD YOU LOOK FOR IN A SALES CONTRACT?

• A contract of sale contains information about the
  property such as the buyers and sellers names,
  addresses, terms of sale, and inclusions. It
  includes all pertinent facts. Once signed, the
  buyer and seller are legally bound.      
• Buying or selling a home is no easy endeavor, and
  a contract of sale is at the heart of the entire
  process. It is the vendors responsibility to
  have the contract for sale ready before offering
  the property for sale.

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WHEN PURCHASING LAND, WHO DRAUGHTS THE CONTRACT
OF SALE?    

• A qualified solicitor or a licensed conveyance
  always prepares the contract of sale. Moreover, a
  solicitor or conveyance representing the other
  party reviews it. They do so to protect both
  parties during the transaction procedure.    

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RELAXATION PERIOD   

• When a house or property is purchased at auction,
  the cooling-off period is not applicable.
  Cooling-off periods for private sales can also be
  arranged. Moreover, this period can be extended
  or decreased, or it can be deleted entirely from
  the terms of sale.      
• From the standpoint of a buyer, it is critical to
  obtain legal counsel, building inspections, and
  financing before exchanging contracts.     
• If the cooling-off period is not applicable, a
  written certificate from the solicitor indicating
  the effect and substance of the terms is
  required.     

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PERIOD OF SETTLEMENT    

• The duration of property settlement between the
  exchange of contracts and the transfer of
  ownership and title can also have negotiation
  between the buyer and seller. This phase might be
  as short or as long as both parties require.     
• All Final legalities you must consider during the
  settlement process.     
• Before adding it to the sale of the contract, one
  can also negotiate the size of the deposit and
  the manner of payment.     

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FIXTURES AND FITTINGS    

• The addition of more fixtures and custom-built
  furniture pieces to modern homes has altered the
  meaning of permanent fixtures. The seller must
  determine what the owner intends by fittings and
  fixtures, which may or may not include home
  appliances such as sound systems, televisions,
  and refrigerators. Dishwashers, even though they
  are considered a fixture, should always be stated
  for clarity.     

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