In property transactions, it’s common for one party to propose significant changes after both parties have signed the contract. Examples include:
- Modifying the property price (e.g., after receiving the Building & Pest Report, the seller agrees to lower the price to cover repair costs).
- Adding a spouse as a second buyer after signing the contract.
It’s important to note that these are significant modifications and cannot be made simply by handwriting changes. In such cases, we recommend that clients formally draft a Deed of Variation or Deed of Rescission to avoid unnecessary stamp duty liability.
