It is the vendor (sellers) responsibility to provide you with the necessary paperwork known as a ‘contract of sale’. Check that this documentation has been prepared by someone professional and MOST importantly, show YOUR solicitor before signing ANY documentation.
A contract of sale, when presented to you, should have no surprises at all. You would already know by now ‘what you are buying’, what the inclusions are, any intellectual property, licenses etc, should all be clearly itemised.
The contract of sale will contain the final conditions of sale, price and settlement period. Each state can vary with this documentation, rules and regulations; therefore it is highly recommended that you involve your solicitor with the legal documentation to ensure you are protected.
