1. the nominated date for settlement (the date you need to pay the balance of the pruchase price to the vendor and take possession of the property) is noted as the 42nd day after the date of exchange;
2. Special condition 31 - you are buying the porperty in its present condition and state of repair subject to all defects both latent and patent. Essentially this means you are buying the property "as is" and if you are not aware of a defect (for example a crack in the wall that is covered by a cupboard) you cannot make a claim for compensation in that respect. Note this is a standard condition across all contracts;
3. It is important that you settle on the nominated date otherwise you will be granted an extra 14 days to settle however you will be charged penalty interest and the vendor's legal fees if this is the case;
4. We recommend special condition 41 be deleted from the contract - this would authorise the vendor to use your deposit as a deposit on another property or to pay stamp duty on a property they have purchased.
