Agreement for Sale and Purchase

The first port of call is to make yourself familiar with the mortgagee’s form of agreement for sale and purchase. This is typically amended considerably from the standard form and designed to give the mortgagee maximum protection. This includes providing the mortgagee the opportunity to cancel the sale, the general exclusion of the risks that are usually taken by a vendor in a voluntary sale situation, as well as removing many of the standard rights normally afforded to a purchaser. Below are some of the key factors that purchasers should be made aware […]