Why is contract review important in real estate buying and selling? This is a common question that we often come across from many customers. We have been in the real estate conveyancing industry for the past many years to be in a position to answer the question correctly. Before answering the question in some bit of detail we would like to place on record the fact that we are a reputed real estate conveyancing company in Sydney. We have an office in the central part of the city and we have today scores of customers who are happy with our services. We are one of the few conveyancing companies in Sydney who have a big list of corporate clients (banks and financial institutions) in our list.
Whenever a property is put for sale or purchase, we enter into a contract either with the buyer or the seller as the case may be. When we enter into a buying or selling agreement on behalf of our customers we make it a point that we tie up all loose ends and make the entire contract safe from our customers’ point of view. We take lot of pains to cover all foreseeable situations and have the agreement vetted more than ones by our experienced group of real estate lawyers and attorneys. Amongst the various points that we include in the real estate buying or selling agreement, there is no doubt that there is always a mention of contract review. This is very important because in spite of the best intentions there could be situations where one party may not be in a position to honour the terms of the contract. If there are genuine reasons for such changes to contract, we check with our customers and make necessary changes to the main contract.
On the other hand there could be situations where there could be a purposeful intent on the part of the stakeholders which could hurt the interests of our customers. In such cases we exercise the option of contract review and try and rescind from the contract so that the interest of the customer is protected by all means. However, before exercising this option we will take the concurrence of the customer. We will try and exhaust all ways and means only after which we will take recourse to the contract review provisions. At the end of the day the main purpose of this contract review provision is to keep our customers’ interest on top of the mind.