14/01/2022
Might be worth waiting a week before signing a contract 🤔
Lost your deposit due to a bank being late to a conveyancing settlement? Changes to the standard REIQ House purchase contract from 20 Jan 2022 will enable either party to obtain a short extension to settlement if the party is unable to settle due to the inaction or delay of a financier or for any other reason. The new clause 6.2 responds to ongoing difficulties in the Queensland property market. The change updates the provisions relating to “time of the essence” to alleviate the circumstance where buyers are potentially unfairly affected by delays outside of their control.