If you are considering selling or purchasing a property, you may have a few questions regarding how signing of the contract works.
A contract of sale is a legally binding document and it’s important to understand the terms and conditions of the contract before signing it.
In order for a contract of sale to be legally binding, it must be signed by the parties involved in the transaction. The buyer will typically sign to indicate that they are willing to purchase the property under the terms and conditions outlined in the contract, and the seller will counter-sign the contract to indicate that they are accepting the offer and willing to proceed to sell the property on the terms provided in the Contract. Once counter-signing has taken place, the contract is dated and considered “entered into” by the parties.
There are certain situations where other parties may also need to sign the contract. For example, if the property is being sold by an estate, the executor of the estate will need to sign the contract. If the property is being sold by a company, a representative of the company will need to sign the contract. It is important to ensure that the company’s name is listed correctly on the contract, as well as the correct title or position of the individual signing.
Contact us on 1300 967 925 if you would like to discuss your Contract. We will also review your standard conveyancing contract within 24 hours, for free. You can email us a copy of your Contract to info@legalilaw.com.au or upload your Contract via our website at https://legalilaw.com.au/free-contract-review.
We look forward to assisting you in the purchase/sale of your property!
