Ordinarily a purchaser of a property is required to pay a 10% deposit when a contract is exchanged and then the balance of the purchase price is payable on settlement. It is becoming more common that purchasers are requesting to pay a 5% deposit on exchange rather than a 10% deposit.  These requests are being made for a variety of reasons.  For example,  a purchaser [...]

Understanding the key milestone of Practical Completion during home building works is essential for both homeowners and builders alike, marking the point at which a project is deemed finished and triggering important legal implications. Practical Completion Defined: Practical Completion is a term used to signify that a building project has reached a stage where it is fit for occupation and use for its intended purpose [...]

It is well known that an owners corporation is responsible for repairing and maintaining its common property in strata lots. If they fail to do so, a lot owner has the right to bring a claim for damages arising from any reasonably foreseeable loss that occurs as a result (such as loss in rental income). It is important that lot owners are aware of the [...]

What is a building inspection report and what role does it play in the purchase/sale of property? A building Inspection report details the property's condition and identifies any issues that are found by the inspector at the time of inspection like defects or problems such as rising damp, safety hazards or cracking and movement in the walls. It is important to obtain a building inspection [...]