The Contract and Form 1 Vendor’s Statement
Before the transfer of residential land can take place, a ‘Form 1’ and contract for sale and purchase of land is produced.
If you are going through a real estate agent, they will draft the contract which must comply with the Law of Property Act SA. However, if you are involved in a private sale, it will be necessary for you to engage a conveyancer to prepare the contract at an early stage.
The contract sets out the terms of the sale, settlement and transfer of the property. The actual transfer of legal title to the land itself is effected at settlement by a signed memorandum registered at the Lands Titles Office (LTO).
Our conveyancers are legally trained. We encourage you to see us at Independent Civil Conveyancing before you sign the contract. It is prudent to have a qualified conveyancer check the terms of the contract to ensure your rights and interests are fully protected.
We will also give you prompt advice so that you do not lose the opportunity to sell or purchase the property in question. Further, we will include any variations or special conditions in the contract in a timely manner.