After working in conveyancing for years, I've noticed something interesting.
Most buyers spend weeks researching suburbs, comparing interest rates, attending open homes and negotiating purchase prices.
But when it comes to reviewing the actual contract they're about to sign, many spend less than 10 minutes looking at it.
That still surprises me.
A property contract isn't just paperwork. It's the document that determines exactly what you're buying and what rights you have after settlement.
And sometimes what buyers think they're purchasing isn't quite what they're getting.
I recently reviewed a contract for a client who was excited about a property because it had a beautifully converted garage that the selling agent was marketing as a home office.
The problem?
There was no evidence that the conversion had ever been approved.
The buyer assumed it was all legitimate because it looked professionally done. Thankfully, we identified the issue before exchange.
Imagine discovering after settlement that a structure you've paid hundreds of thousands of dollars for doesn't have the approvals you expected.
Unfortunately, this sort of thing isn't rare.
Another common issue involves easements.
Most people don't know what an easement is until they're told there's one running through their property. Suddenly, plans for a pool, extension or granny flat become much more complicated.
I've also seen buyers shocked to discover restrictions on the title that limit what they can build in the future.
The reality is that the purchase price is only one part of the transaction.
The legal side of the deal often reveals things that photos, inspections and open homes never will.
That's why I always tell clients the same thing:
Fall in love with the property if you want, but don't fall in love with it before you've reviewed the contract.
A few hundred dollars spent on proper advice before exchange can save thousands or even tens of thousands later.
Buying property in NSW is one of the biggest financial decisions most people will ever make.
The exciting part is choosing the property.
The important part is understanding exactly what you're buying.
And they're not always the same thing.