A property contract isn’t just a pile of paperwork — it’s a legally binding agreement that spells out exactly what each party is responsible for. If you’re planning to buy or sell a home, or even lease one, reading the fine print matters more than you might think.
Here’s a friendly, straightforward guide to help you understand what to check before signing anything official.
Check the Names and Parties Listed
It sounds simple, but you’d be surprised how often this is missed. Make sure all names are spelled correctly, and that the parties involved are who they say they are. This means checking IDs, company names, or trust details if needed. Mistakes here can slow things down — or worse, make parts of the contract invalid.
Look Closely at the Property Description
You want every part of the property to be properly described. That includes the address, the legal land description, and any included extras like garden sheds, air conditioning units, or appliances. If the contract is vague, you could end up disputing whether a fixture was part of the deal.
Understand Exactly What’s Included in the Sale
Not everything you see during an inspection is guaranteed to come with the property. Items like curtains, light fittings, or dishwashers should be clearly listed. If it’s not mentioned, don’t assume it’s included — ask for it to be written in.
Keep an Eye on Special Conditions
Special conditions can be things like finance clauses, pest inspections, or building reports. Pay attention to the wording and the dates — these deadlines are usually strict. Miss one, and you might lose your deposit or the whole deal.
This is where having help from experienced property lawyers in Campbelltown can make all the difference. They’ll spot red flags that you might miss and make sure your contract actually protects you.
Pay Attention to the Cooling-Off Period
Most residential property sales have a cooling-off period — a short window where the buyer can change their mind. But this isn’t always guaranteed. Some contracts reduce or waive this right, and others may have penalties for pulling out. Know exactly what applies to your contract.
Review Payment Terms and Deposit Details
How much deposit are you expected to pay? When is it due? Where is it being held? These things should be spelled out clearly. If anything seems uncertain, clarify it before signing. Also look at how and when the balance of the payment is to be made — this can vary.
Budget for Other Expenses
The sale price isn’t always the final cost. Some contracts include provisions for rate adjustments, legal fees, or penalty interest if settlement is delayed. Read through to understand what else you might be on the hook for, beyond just the purchase price.
Check for Approvals and Restrictions
If there have been any renovations or additions to the property, like a deck or garage, ask whether council approval was obtained. Unapproved works can become your problem after settlement. It’s also smart to ask about zoning restrictions or any nearby development proposals that could affect the property in the future.
Review Dispute Clauses and Breach Terms
Contracts often have clauses that deal with what happens if something goes wrong — like a delayed settlement or a party pulling out. Take the time to understand these. Knowing your rights and options early can make it easier to handle a disagreement, should one pop up.
If this is all sounding a bit overwhelming, you’re not alone. Many buyers don’t realise how much is hidden in plain sight in a property contract. That’s why it helps to read up on how to avoid mistakes in a legal agreement — even if you’re not the one drafting it.
Final Thoughts Before You Sign
Once everything looks right, don’t rush. Make sure all updates or agreed changes have been made in writing — and that you’re signing the latest version of the contract. Never rely on verbal promises or assumptions.
Reading a property contract might not be thrilling, but it’s one of the smartest things you can do when buying or selling. Being careful now can save you from stress (and extra costs) later on.
