Advice on contract lead to reveal of significant issues
14 May 2018
SS was purchasing an established unit in the ACT. SS was not advised by the real estate agent that there were any issues with the complex when the offer was made on the property.
Snedden Hall & Gallop was engaged to do the conveyance for SS.
When we reviewed the contract on behalf of SS, we noticed a small comment in the minutes of the 2016 Annual General Meeting regarding some defect issues. Upon further review on the strata records and a discussion with a member of the executive committee, it became evident that there were significant building defects – including areas of the building not meeting Building Code regulations and/or fire regulations.
Thankfully, receiving advice on the contract prior to exchange, ensured that SS did not commit to an unfavourable purchase which may have ultimately cost SS much more than expected.
The Conveyancing team were pleased to be able to assist SS and ensure that they were 100% aware of what they were purchasing. In choosing not to proceed with the purchase, SS was grateful for the thorough research of the Snedden Hall & Gallop Conveyancing team. SS is looking at other, more suitable, properties.