You are a property professional who is acting for Polly Peru ("Polly"), a purchaser who is interested in buying a residential property. She has found a property that she likes and spoken to the real estate agent who is acting for the vendor. She has emailed you to ask for your advice. Her email is below:

Hi

I've spoken to the vendor's agent about the apartment in the Whitcoulls building, and I am almost ready to put in an offer.

One of the main reasons I'm interested in the property is because I heard that it has been built using zero waste products. It wasn't advertised as being built in this way, perhaps that's not a main selling point, but for me this is really important. I wouldn't buy the property otherwise. Anyway, can you help me with a few things before I put an offer in?

The agent gave me a copy of the LIM report with the property information. She said that this will give me all I need to know about the property, and that I can sign an unconditional contract because, as I told her, I already have my finances arranged. She said that I can rely on the requisitions clause to cancel the contract if any problem comes up afterwards. Is this true? I remember you telling me something about a due diligence clause, or maybe a solicitor's approval clause - are these just as good as the requisitions clause?

Also, I want the apartment to be owned by my family trust ("The PP Trust") but the trust won't be set up before I need to sign the contract so I'm not sure who the trustees will be. The agent told me I can just write "The PP Trust" as the purchaser. Is that right? If not, what do you suggest is the best thing to do? I don't want to have the property registered in my own name because I am worried about liabilities.

Can you give me some advice please? I want to sign this contract tomorrow. Thanks for your help, Polly

1. Having read the above fact scenario, reply email to Polly. You should tell her whether the agent is correct or not, and also answer her more general questions so that she can complete the ADLS SPA correctly when she goes to sign it tomorrow.