Reviewing the Land Contract
Wednesday, August 19, 2015In between everything else, I received a phone call from our Solicitor to advise that he had received our land contract and that we had to go in and review the contract with him.
I'd say we had about a week to visit him, talk about the contract, and come back and sign it along with our 10% deposit cheque!
I thought it was a bit rushed, until I realised that they had sent us a letter through snail mail about a week ago to contact them to organise an appointment.
So, NOTE: check your mail every day! I don't know if it's a solicitor thing but they still do things old school!
When we arrived for our appointment it was fairly straight forward. The solicitor told us that it was going to tae about a half an hour to go through things. I wasn't so sure once I saw the thick pad of paper which was our contract!
He bascically had everything marked with the just the main things for us to talk about. These were things like the sunset clause, where the sewers were and if they were correct on the diagram, the design guidelines for our estate and I think that was it.
There were more important things, but I've forgotten them so far!
Once we went through it and all was ok, we were given the contract to take home and look through again, as well as signing the contract to return a couple of days after.
We also had to make sure that we had a 10% cheque payable to the solicitors (which is -$1000 you paid at the sales centre). This had to be a cheque unfortunately!
So the fun began reading the contract. I guess I just re-read what the solicitor reviewed with us. Everything else was straight forward.
Also because we were a first home owner, we don't have to pay stamp duty (YAY!), so we were given more documents to sign for that.
It ended up being not so complicated in the end...!
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