The sale contract is the legal document that transfers your property, and in most states vendors must disclose certain information before a buyer signs. Understanding both sides of the contract protects you and keeps the sale on track.
What the contract contains
A contract typically covers the property description, price, deposit, settlement date and any inclusions or exclusions. It is prepared by your conveyancer or solicitor and should be reviewed carefully before the property is marketed.
Know the required disclosures
Depending on the state, vendors may need to provide a section 32 or similar statement, building and pest information, and details of any known issues. Failing to disclose what is required can create liability after settlement.
Review before you sign
Have your legal adviser explain every clause, especially around deposit release, special conditions and settlement timing. A well-prepared contract reduces the chance of delays or disputes later in the sale.