Why It’s Important to Have a Contract Reviewed When Buying Property

August 29, 2025

Why You Should Always Get Your Property Contract Reviewed Before Buying

Buying a home? Discover why getting your property contract reviewed by a solicitor or conveyancer is essential. Learn how it protects you legally, prevents costly mistakes, and gives you peace of mind before you buy.

Buying a Home? Don’t Skip the Contract Review

Buying a property is one of the biggest financial and emotional investments you’ll ever make. Between inspections, securing finance, and managing deadlines, it’s easy to feel overwhelmed — and even easier to overlook one critical step: reviewing the contract of sale.

This document defines your legal rights, obligations, and what happens if something goes wrong. Failing to understand or review it properly could leave you exposed to costly risks, hidden clauses, or unfair conditions.

In this guide, we’ll unpack why having your property contract reviewed before signing is essential, what risks you avoid by doing so, and how professional advice can help secure your investment.

Understanding the Property Contract: What It Really Means

When you agree to buy a property, the contract of sale becomes the legal foundation of the transaction. It spells out everything from the purchase price and settlement date to inclusions, exclusions, and any special conditions.

However, these contracts aren’t always written in plain English. They often contain technical legal terms or clauses related to:

Easements or rights of way (shared driveways or access points)
Property use restrictions, such as zoning or renovation limits
Penalties for delayed settlement or breach of contract
Special conditions that may transfer certain responsibilities to you

Without expert review, you might unintentionally agree to terms that don’t align with your expectations. A legal review ensures the contract accurately reflects what you’re buying and protects your interests.

Hidden Clauses: The Traps You Might Miss

Contracts can look straightforward — until you dig into the fine print. Many include conditions that seem minor but could have serious implications. Some common hidden clauses include:

Settlement deadlines that don’t allow enough time for loan approval or inspections
Buyer liability for repairs or compliance issues after settlement
Usage restrictions, preventing extensions, building work, or renting the property
Clauses favouring the seller, limiting your rights to negotiate or withdraw

A solicitor or licensed conveyancer can identify these risks early, helping you avoid unpleasant surprises and ensuring the contract terms truly protect you.

Avoiding Financial Surprises After Settlement

Nothing ruins the excitement of buying a new home faster than discovering unexpected costs. Some buyers assume certain inclusions are part of the sale — only to find out later that they’re not.

Here are some common financial surprises that can arise without a proper review:

Fixtures like air conditioning units, curtains, or built-in furniture being excluded
Unpaid council rates or land tax left for the buyer to cover
Special levies on apartments or townhouses not disclosed upfront

A professional review confirms exactly what’s included in the sale and ensures all liabilities are settled before you take ownership.

How a Contract Review Protects Your Legal Rights

A contract of sale is a binding legal document. Once signed, it can be very difficult (and expensive) to change or withdraw from. That’s why having a qualified professional review it first is crucial.

They will:

Check for unfair terms or hidden risks
Explain your rights and obligations clearly
Ensure deadlines and settlement dates are realistic
Confirm inclusions and exclusions are accurately listed
Recommend amendments or renegotiations if needed

This process protects your legal position and gives you leverage should any disputes arise later.

When Should You Get the Contract Reviewed?

The ideal time to have your property contract reviewed is before signing or paying a deposit. Doing so gives you the flexibility to:

Negotiate unfavourable terms
Ask for amendments
Withdraw from the deal if the contract doesn’t suit your needs

In a hot market, it can be tempting to rush, but skipping a contract review to secure a property can lead to long-term regret. Taking a day or two for a legal check is a small step that can save you thousands.

Who Should Review Your Property Contract?

There are two professionals who typically handle property contract reviews:

Solicitors

Solicitors are legal experts who can interpret contracts, explain your legal obligations, and provide advice on complex clauses or risks.

Licensed Conveyancers

Conveyancers specialise in property transactions and ensure all legal and procedural requirements are met before settlement.

Both play crucial roles, and the cost of their service is minor compared to the financial risks of signing a contract you don’t fully understand.

The Benefits of a Professional Contract Review

Having your property contract reviewed offers multiple benefits, including:

Legal protection: You’ll avoid signing a contract that unfairly benefits the seller.
Financial clarity: You’ll know exactly what you’re paying for — and what you’re not.
Peace of mind: You can move forward confidently, knowing your rights are secure.
Informed decisions: You’ll have the full picture before committing to such a major purchase.

Ultimately, it’s about protecting yourself and your future home.

Peace of Mind Throughout the Buying Process

Buying a property can feel like navigating a maze of legal terms, financial decisions, and emotional pressure. A contract review brings clarity and confidence to the process.

With Metrolinx Property Advisors, you’ll have an experienced team guiding you through every stage of due diligence. They’ll make sure your contract is fair, your rights are protected, and your purchase goes smoothly from start to finish.

FAQs About Property Contract Reviews

Do I really need a solicitor if I think I understand the contract?
Yes. Property law can be complex, and even straightforward clauses can carry serious legal implications. A solicitor or conveyancer ensures nothing is missed.

Can I back out of a property contract after signing?
It depends on your state’s laws and whether a cooling-off period applies. Always clarify this before signing.

What if the review reveals problems?
You can renegotiate, request changes, or walk away. A professional review strengthens your position and helps you make informed decisions.

Is it expensive to have a contract reviewed?
Not at all. Compared to the cost of buying a home, a review is a small investment that can prevent major financial losses.

Can my real estate agent review the contract for me?
No. Agents are not legally qualified to provide contract advice. Always use an independent solicitor or conveyancer.

Does this apply to both houses and apartments?
Yes. Apartment contracts can be even more complex, with strata by-laws and shared property conditions that need careful review.

Final Thoughts

Having your property contract reviewed is not just smart — it’s essential. It protects you from hidden risks, prevents unexpected costs, and ensures your home-buying journey stays smooth and stress-free.

Before signing anything, take the time to get professional advice. It’s a simple, affordable step that provides long-term security and confidence.

If you’re preparing to buy a property, get in touch with Metrolinx Property Advisors. Their experienced team will ensure every detail is checked, every clause is explained, and every risk is managed before you commit.

📞 Call Cynthia today on 0432 327 945 for expert guidance and complete peace of mind.