If you have the opportunity to obtain legal advice before you sign a Contract, we strongly recommend that you do so. You should not sign any document that you do not understand. Our lawyers are trained to give you full and comprehensive advice about all issues related to Contracts for Sale, whether you are a Vendor or a Purchaser. We can work with the agent to ensure the Contract is drafted in a way that properly protects your legal position. We can also assist you to negotiate special terms into the Contract if you require them.
In Tasmania, once you have signed a Contract it is valid and binding and you have very few rights against the other party that are not set out in the Contract. Tasmania also does not have a cooling off period at present, which makes it even more essential that you obtain independent pre-contractual legal advice where you can. Once you have signed, there is often very little that can be done to get you out of an undesirable legal situation.