When purchasing residential property it is important to understand the legal effect of a contract of purchase.
A failure to understand the legal effect of a contract of purchase could result in:
- Loss of your deposit
- Loss of your cooling off rights
- Not buying what you thought you were buying
- An inadvertent breach of contract giving rise to a claim for damages against you by the vendor
The best time to obtain advice on a contract of purchase of residential real estate is before you sign it.