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When buying a property, it's crucial to determine the name that will be on the contract. This includes deciding if it will be in one person's name, both parties' names, two brothers, individual names, a company, a business name, a superannuation fund, or a family trust. It is essential to consult with your broker, solicitor, or accountant before purchasing to ensure the correct name is used on the legally binding contract. Making changes after entering a binding auction contract with no cooling-off period can be challenging.
