by Cameron Shaw | Dec 15, 2017
It is common practice for vendors to agree to a ten per cent deposit ‘paid by instalments’, with five per cent paid on exchange and the remaining five percent paid on settlement. This practice was considered in Boyarsky v Taylor [2008] NSWSC 1415. In this case, the...
by Cameron Shaw | Nov 18, 2017
Under the standard NSW Law Society contract for the sale and purchase of land when a property is sold in NSW it is given either “subject to existing tenancies” (where there is a leasehold tenant) or with “vacant possession”. Vacant possession is a term from the...
by Cameron Shaw | Apr 18, 2016
Any* contract entered into on or after 1 July 2017 for the sale of land for a market value of $750,000 or more requires a vendor to obtain and provide a “Clearance Certificate” to the purchaser otherwise the purchaser must withhold 12.5% of the purchase...
by Cameron Shaw | Mar 23, 2016
In response to media pressure, in late 2015 the NSW government changed the law to restrict developers from using ‘sunset’ clauses in off-the-plan contracts to benefit themselves. A sunset clause is where a developer is entitled to rescind the contract for...
by Cameron Shaw | Aug 18, 2015
In the case of freehold, definitely, in the case of strata, it depends.