Melani Homes Ltd

 Tips and guidance on a house purchase 

When buying real estate, it is important that you inspect the property carefully before you start bidding. Use a professional when you go on display. It is always important to ask questions to the seller and the broker about the property.

The sales prospectus and any attachments are intended to provide full and accurate information about the property. It is important that you read all documentation carefully. Any questions should be directed to the broker (or seller). As a buyer, you have a duty of inspection, and any requests for further investigations should be followed by you. Failure of such requests may result in being unable to invoke any errors and omissions which you should have discovered by such examination.

Bids are entered on the basis of prospectuses. You must therefore pay particular attention to any subject / assumptions contained in prospectuses. If you do not accept the terms contained in prospectuses, you need to make modifications while submitting the bid on the property.

There is no right to cancel the sale / purchase of real estate. So be sure before you bid!

As a bidder you are responsible for the size of the bid submitted.

The broker has no general duty to investigate the buyer's financing capacity. You are responsible to finance the bid. If you are unable to finance / carry trade, you may be liable.

The seller is free to reject or accept any bid, and for example not obliged to accept the highest bid.

Once the seller has accepted the offer and the acceptance is communicated to you as the buyer within the acceptance deadline, it entered into a binding agreement.

Pay the purchase price in purchase contract deadlines. If you do not pay or fulfill your obligations under the contract, the seller may on certain conditions require:

Compensation for financial losses caused by the delay
To retain the property and deed
Default interest for delayed payment

Buying a property is perhaps the most important transaction you make in life. There is great value in games, and often short deadlines. It is therefore important to be well prepared.