The Contract of Sale contains both “General Conditions” and “Special Conditions”. General Conditions are those conditions which are the accepted standard conditions included in every Contract of Sale. “Special Conditions” are those which are not standard and are included by the Vendor’s solicitors to afford greater protection or benefit to the Vendor.

Both General and Special Conditions generally fall into two categories (i) they trigger additional costs and expenses to be payable by you or (ii) restrict or remove any rights to claim compensation if there is a defect in title or with the physical property. Obtaining a pre-signing Contract Review by a qualified conveyancer will help identify any onerous Special Conditions which should be removed or amended.

It is imperative to determine whether the property you have physically inspected matches the measurements, boundaries or location of the property as registered on its Title Plan.This is important because whilst you are paying full value for the land as represented to you by the vendor in the Title Plan, you may be obtaining less in terms of the physical dimensions of the property.

A pre-signing Contract Review should include a perusal of the boundaries or location of the property to assist you in determining the accuracy when you inspect the property prior to you committing yourself to the purchase because the Contract will always provide indemnity against the vendor for any deficiency in measurements, so if you discover after contract signing that the property is missing square metreage because the fences have been erected incorrectly or that the courtyard of the unit is actually common property, you will not have any recourse against the vendor.

Is the property under an Owners Corporation? If so, you should obtain a pre-signing review to determine what the annual levies are and whether any significant maintenance issues have been discussed at an Annual General Meeting which may give rise to hefty special levies.

Non-compliant combustible cladding has been a frequent and significant issue for many apartment buildings across Melbourne, but the rectification requirements and costs are not always revealed to you as the purchaser unless you appoint a conveyancer to read through the pages of Owners Corporation information before you sign the Contract.