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ADVICE BEFORE SIGNING THE CONTRACT

Although it is possible to enter into a contract to buy 'subject to structural inspection' thus giving more time for the inspection, many vendors may reject such offers. It is now almost standard practice for 'building inspections' to be carried out during this cooling off period during which time the purchaser can seek appropriate advice. see cooling off.

Many people do not realise that a contract to purchase a home is usually for the purchase of the land, not the house. If there is anything wrong with the house there is not likely to be any remedy against the vendor (seller). However, purchasers of recently built or renovated houses are protected gainst faulty construction for five years from the date of the work by the Building Work Contractors Act 1986 .

The boundaries can be surveyed by a registered surveyor to be sure that the land has been fenced in accordance with the certificate of title. If there is any encroachment onto adjoining land, or if a fence has been built inside the proper boundary line, this is the time to remedy the mistake. If there is any dispute it is the boundaries shown on the certificate of title that will be upheld, not those marked by the position of the fence.

The conveyancing, that is the actual transfer of the title, should be handled by a solicitor or conveyancer (formerly Land Broker). Although their function really begins after the contract has been confirmed and established they are the ideal source of independent early advice. Conveyancing fees are not regulated and so quotes should be sought.


ADVICE BEFORE SIGNING THE CONTRACT  :  Last Revised: Tue Mar 5th 2002




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