My brother is looking to purchase some vacant land to build…

Sorry but it is not clear what the issue with the adjustment date is. The adjustment date is usually the settlement date, which is when the bulk of the purchase moneys are transferred and adjustments are made to reflect which party should have liability for rates, land tax, etc from the adjustment date. The date may be very important to the Vendor because they need to know when they will get the money they need, typically because they may be purchasing a new property and need to know when their finances will clear to make their own purchase.

If you elaborate on what the vendor is asking him to agree to in that respect, that would expose him to 'years of rates and land tax' that you think he should not be liable for , I may be able to comment further, otherwise please rate my answer.

Patrick

Without fully understanding the nature of the property I cannot advise with much certainty on why they would be so insistent, but likely it is just their attempt to push their obligations onto your brother, though from their point of view they may consider it reasonable if your brother is proposing a much delayed settlement date. That said the reasons are ultimately unimportant because these are matters which they are entitled to negotiate whethery they appear to be taking a reasonable position or not.

Good luck and PLEASE RATE MY ANSWER.

Patrick

Your appears to being reasonable if he wants the adjustment date to be on the settlement date. That is the normal thing, but they don't have to agree to that any more than they had to agree to a particular price, so there is nothing your brother can do if they refuse to budge except either accept their terms or pass on the property.

Please rate my answer.

Patrick

Under Australian law, there is a general presumption that parties are free to contract on whatever basis they like. There are some restrictions on this, but none that would prevent a party insisting on terms such as the above. In short the idea of freedom of contract is that if parties don't like the terms they are offered, they can refuse to contract, which is exactly what your brother can do. Parties are not obliged to agree to terms they don't like and accordingly, the Vendor is free to refuse to proceed unless you agree to their terms as your brother is free to refuse to proceed unless they agree to his terms. Compromising on what each party wants is what leads to a contract, but parties are not obliged to compromise.

Whether it is fair or not is besides the point, if that is a condition of the sale, all you can do is accept it, persuade them to change it or walk away.

Please rate my answer.

Patrick