Purchasing a Property – Buyer services.
Buyer beware is a common, and often true statement about the complexities of transferring the ownership of property in Melbourne. Buying a property is one of the biggest financial commitments that people can make and a major disruption when it doesn’t go to plan. It’s wise to have a diligent solicitor on your side before you sign or commit to anything in writing.
In many cases, new property owners are euphoric in their purchase and only after purchase do they consider engaging a solicitor for the transfer of ownership.
We recommend you engage our conveyancing services prior to signing a contract, as if you make a written offer that is accepted by the vendor in writing, a legally binding contract is created and each party must meet the obligations in the contract. If you don’t meet your obligations the vendor may have a claim in law against you.
Contract Review
Prior to submitting offers in writing, or signing a Contract of Sale, it’s highly recommended that you engage a solicitor to review the contract with you so that you are aware of any conditions or covenants in the contract which would otherwise impact on your decision.
When you sign a contract it creates a legally binding document and you are obligated to meet the conditions. We know what we are looking for when we review a Contract of Sale and can promptly bring any irregularities to your attention.
Written offers
Most property buyers have experienced the rush of not wanting to miss out on the property, but due diligence at the start of the process can avoid emotional and financial stress resulting from a hasty decision.
We suggest that you only make a written offer once you have reviewed the Contract of Sale with your solicitor and identified if there are any irregularities to the Contract.
Only make a written offer that you know you can meet, or where you have a pre-approval from your lender. Not all Contracts of Sale have a cooling off period, and in haste you may commit to a potentially expensive mistake.
Is the review an additional cost?
No. The initial contract review is included with your standard fees.
Our standard fees start at $900 + disbursements* for purchase. Including but not limited to items such as:
- Certificates
- Titles
- Covenants
- Planning certificate
- Land tax
- Council, water. Raods
- Annual Rates
There are a number of items we consider when assessing your conveyancing needs and the cost depends on several factors which impact the input involved from us:
- the type of property you are buying, House, freestanding, unit
- the length of the contract of sale
- are there any special conditions or covenants in the title.
- the certificates in the Vendors Statement
For further information visit our Frequently Asked Questions or Contact Us to make an enquiry.