Special conditions are clauses added to a standard contract that are specific to the individual transaction and are used to address unique circumstances that may arise during the buying process.
For a buyer, special conditions can be important for a number of reasons. They can help protect the buyer’s interests by outlining specific conditions that must be met before the settlement date. If you have any concerns about the property prior to entering into a contract, your solicitor or conveyancer can assist in drafting specific special conditions to address your worries. These can include, for example, making sure your contract is dependent on the sale of a prior sale contract, or inserting that the Seller is to complete certain works on the property prior to settlement.
One common special condition we often see in residential Contracts, is having the agreement subject to a professional clean of the property prior to settlement and at the Seller’s expense. What many buyers may not realise is that the Seller is not required to have the property professionally cleaned or even left in a moderately clean state at settlement. As per the standard terms of the residential REIQ contract, the Seller is only required to leave the property in roughly the same condition as it was when the contract was executed. This can catch out many unexpecting buyers moving into the property immediately after settlement. Therefore, having your conveyancer or solicitor include a special condition like this one, can help alleviate a lot of unnecessary stress and concern prior to settlement.
Article by Rhys Larsen