Buying Property

Buying property is a big decision, and it's important to get everything right. That is why we offer to review your first property purchase contract of sale and Section 32 for a minimal fee. We will help you understand the terms of the contract and make sure you're getting a fair deal.

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We can review your contract of sale and section 32 vendor’s statement to ensure you are protected.

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We understand that buying property can be a daunting process, but we're here to make it as easy as possible for you.

Vacant land

New or existing houses

Units, flats and apartments

Off the plan purchases (townhouses, houses or units)

Commercial properties, including shops, caravan parks and restaurants

Industrial sites, including farmland and warehouses

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Subject to finance clause

When you're buying a property, it's essential to have your finance approved before you sign the contract of sale. If your finance is not approved, you could lose your deposit. To protect yourself, you should include a "subject to finance" clause in the contract. This clause allows you to terminate the contract if your finance is not approved within a specified time frame.

The subject to finance clause should include the following information:

Final inspection before settlement

It's important to conduct a final inspection of the property before settlement. This will give you a chance to check that the property is in the same condition as when you signed the contract of sale. You should contact the real estate agent in the weeks leading up to settlement to schedule the final inspection. We recommend that you schedule the inspection a few days prior to the settlement date. This will give you enough time to address any issues that you find.

Here are some things to check during the final inspection:

If you do identify any issues with the property, contact your lawyer for further guidance. They will be able to advise you on your options and help you to resolve the issue.

By conducting a final inspection, you can protect yourself from any surprises after settlement.

Settlement date

Settlement day is the day the buyer takes ownership of the property. This date is usually specified in the contract of sale.

On settlement day, all parties involved in the sale will meet to finalise the transaction. This includes the buyer, seller, real estate agents, and lawyers.

Our office will arrange an agent to attend settlement on your behalf. This agent will represent your interests and ensure that the settlement process goes smoothly.

Settlement day is a big day, but it's also an exciting one. By following these steps, you can make sure that settlement day goes smoothly and that you get the keys to your new home.

Here are some additional tips for settlement day:

The buyer will pay the balance of the purchase price to the seller.
The seller will provide the buyer with the keys to the property.
The buyer will take possession of the property.
The buyer's lawyer will register the transfer of ownership with the Land Titles Office.

Frequently asked questions

We are here to help you with all of your legal and conveyancing needs. Below, you will find answers to some of the most critical questions that people have about the conveyancing process.

Should you get the contract of sale and section 32 reviewed?

Yes, it is critical to get the contract of sale and section 32 vendor’s statement reviewed by a lawyer before you sign anything. These documents are complex and can be full of legal jargon, so it is important to have someone who understands them properly to review them on your behalf.

There are many reasons why you should get these documents reviewed. First, every contract of sale and section 32 vendor’s statement is different. The terms of the contract and the information contained in the section 32 vendor’s statement can vary significantly from one property to another. It is important to make sure that you understand the terms of the contract and the information contained in the section 32 vendor’s statement before you sign anything.

Second, committing to a purchase without getting the legal documents reviewed can be a costly exercise. If you discover a problem with the contract or the section 32 vendor’s statement after you have signed them, you may be able to get out of the contract, but you will likely have to pay some costs, such as nomination fees, re-sale fees, land tax payable on a proportional basis, and late settlement fees.

Third, getting the correct legal advice gives you the confidence to purchase the property on terms acceptable to you. It also ensures that there are no hidden traps and surprises once you commit to the purchase.

In short, there are many good reasons why you should get the contract of sale and section 32 vendor’s statement reviewed by a lawyer before you sign anything. It is an important step in protecting your interests and ensuring that you make a sound investment.

Should you sign the Section 27 deposit release statement?

A Section 27 deposit release statement is a request from the seller to the purchaser to consent to the early release of the deposit before settlement. This consent enables the seller to access the deposit money before settlement, which is not standard practice.

There are three options available to you:

Object to the deposit release with reasonable grounds for objection. This could include concerns about the title of the property, the existence of any encumbrances, or the seller’s ability to complete the sale.
Consent to the deposit release by signing the necessary documents. This is the most common option, but it is important to understand the risks involved. If you consent to the deposit release and something goes wrong with the sale, you may not be able to get your money back.
Ignore the documents. If you do nothing, the deposit will be automatically released to the seller after 28 days. This is not recommended, as it could leave you without any recourse if something goes wrong.

The best option for you will depend on your individual circumstances and risk tolerance. It is important to speak to your lawyer or conveyancer to get their advice on the best course of action.

Building and Pest Inspection: What You Need to Know

A building and pest inspection is a thorough examination of a property by a qualified professional to identify any defects or issues that may affect the value or usability of the property. The inspection typically covers the following areas:

The structural integrity of the building
The condition of the roof, walls, and floors
The presence of pests, such as termites, carpenter ants, and borers
The condition of the plumbing, electrical, and heating systems
The drainage and water supply
The condition of the land and surrounding area

A building and pest inspection is an important step in the home buying process, as it can help you avoid purchasing a property with major defects or issues that could cost you a lot of money to fix. It can also help you negotiate a better price for the property if any defects are found.

Here are some of the benefits of getting a building and pest inspection:

It can help you avoid purchasing a property with major defects or issues.
It can help you negotiate a better price for the property if any defects are found.
It can give you peace of mind knowing that you are purchasing a property in good condition.
It can help you protect your investment.

If you are considering buying a property, we highly recommend getting a building and pest inspection. It is a small investment that can save you a lot of money in the long run.

Auction vs. Private Sale: Which is Right for You?

When you purchase a property at auction, you are making a unconditional offer. This means that you are agreeing to buy the property for the highest price that is bid, and you cannot back out of the sale. You also do not have the right to a cooling-off period, which is a period of time during which you can cancel the contract without penalty.

In a private sale, you can make an offer to the seller, but this offer can be conditional. This means that you can attach conditions to the offer, such as getting approval for a loan, selling your existing property, or completing a building or pest inspection. You also have the right to a cooling-off period, which is three business days.

The best type of sale for you will depend on your individual circumstances and preferences. If you are confident that you want to buy a property and you are willing to commit to the purchase without any conditions, then an auction may be a good option for you. However, if you are not sure about the property or you want to be able to back out of the sale if something goes wrong, then a private sale may be a better option.