Riverina Example Lawyers
Level 1, 40 Fitzmaurice St, Wagga Wagga NSW 2650

Advice on contract for purchase of 12 Gurwood St

Dear Jane and Mark,

Settlement is 42 days after exchange. There is no special condition making the purchase subject to finance, so you should not exchange until your loan is approved, or ask for a 5-day extension of the cooling-off period.

The vendor may rescind if the strata plan is not registered by the sunset date. Your deposit would then be refunded in full.

Transfer duty on $725,000 is about $28,365 and is payable within 3 months of exchange.