We assist with the legal process and preparation of documents required for the transfer of property from one owner to another.
We check for errors, omissions and items of concern to save you from making an expensive mistake. We also suggest amendments and give instruction for your convenience and protection.
We have completed hundreds of contract reviews and consider this area our specialty and therefore, conducting the whole conveyancing process on your behalf, ensures you have a smooth journey into property purchasing/selling.
When selling a property, you will need a Contract of Sale and a Section 32.
Contract of Sale
A contract of sale typically contains:
- details of the property
- your name and the buyer’s name(s)
- the name of your estate agent (if you are using one)
- details of legal practitioners or conveyancers that you and the buyer have engaged
- the purchase price
- the deposit paid
- the balance owing at settlement
- any special conditions, such as a ‘subject to finance’ clause.
Managing the contract and finalising the settlement period is not always as straightforward as you may think. There are many little things to consider, and since each case is different –each need to be addressed independently.
If you are planning on selling or purchasing a property, we undertake the contract review on your behalf and ensure a smooth settlement period. Should you then decide to go ahead with the purchase, that review will be provided free of charge.
We are legally obligated to complete the contract review by the deadline – which in the case of a private sale would be the settlement date. We will also ensure that your other property buying or selling partners, such as lenders and vendors, also remain obligated to this timeframe.
If settlement is delayed for any reason, there is a risk the vendor may charge a penalty fee. This can be anything up to 16% of the original cost. Should such a situation occur, we will act on your behalf to work with the vendor to negotiate a penalty-free extension.
Likewise, if the lender is not ready, we aim to negotiate a penalty-free extension for a smoother process. At the end of the day, everyone wants the exchange process to move along smoothly, as stress-free as possible. However, we also reserve the right to charge penalty interest against them, in extreme circumstances.
In situations where late notice is given, for example, if you have loaded up the removal truck and you are ready to move into a vacant property, but the lender then states they are not ready, at this time we can implement on your behalf a license agreement – a type of temporary lease – which will enable you to continue with the move. Where the vendor is the cause of delay, you won’t be charged anything for the establishment of this license agreement.
Section 32
A Section 32 statement is a requirement for selling a property and contains information about the property’s title, including mortgages. This document is then given to the buyer.
Therefore, have your Section 32 checked by our Conveyancing Lawyers before going to auction or committing to a legally binding purchase.
As with the contract of sale, we manage the review process on your behalf and check that all details are correct, and timelines and legal obligations met.
In undertaking the above processes, we help simplify the jargon and identify if there are any legal hurdles. Then, if you choose to engage us, we guide you through the legalities, whilst ensuring you are always protected.
Certificates
If selling via auction, given there is no cooling off period, you will need to acquire all corresponding certificates such as:
- the property certificate
- a zoning certificate
- a drainage diagram
- the land plan and planning certificate (issued by the appropriate government authority)
- a building approval
- land tax
- all documents relating to easements, rights of way, restrictions, covenants
- the property certificate and the strata plan (if a strata property)
- any by-laws regarding exclusive use of, or special privilege over, common property.
We help you acquire all the certificates you need for selling at auction – one less thing you need to think or worry about.
If selling privately, the cooling off period will give you time to undertake your own inquiry. To ensure you are prepared for date settlement, we assist in this process by looking at the current document and simply replacing old information with the most recent, for example, a recent water bill and land information certificate, which saves you time and money.
Caveats
Caveats are used to protect land and property from being sold, developed and generally is a warning to others that another person or organisation is interested in that land title.
A caveat should be lodged when you plan purchase a property. This provides protection against the property from being sold to another purchaser.
If you need advice pertaining to caveats, contact our expert team on (03) 9888 5532 to safeguard the property.
We help manage any caveats that may occur during the conveyancing process.
Subdivisions, Gift Transfers
We can also provide the above conveyancing services where a subdivision of land is involved, or where a gift transfer is in place.
Book A Free Consultation
If you require a fast turnaround of conveyancing services, contact us on (03) 9888 5532 or via email to arrange a free half hour, no obligation session, where we can help achieve a secure, successful settlement for you.
Office: 1/229 Canterbury Rd, Canterbury VIC 3126
Email: info@arch-sap.com.au (drop us a line anytime)
Phone: 03 9888 5532 (Mon-Fri, 9am-5pm)