Whether you are buying or selling residential or commercial property you can rely on Tony Laumberg’s over 30 years’ conveyancing experience to provide you with a smooth, reasonably priced transaction backed up by high quality legal advice.
Purchase
Initially, Tony will take you through the Contract for the property you are interested in to ensure you are fully aware of all relevant details and terms.
He will at this time discuss with you the desirability of obtaining building and pest inspection reports and, if buying a strata unit, a strata records inspection report.
He will then suggest any amendments to the Contract and write to the vendor’s solicitor requesting the changes. After negotiations between the parties are finalised an exchange of Contracts will be arranged at which time you will pay the deposit and then be legally bound to proceed with the purchase.
Over the next few weeks Tony will liaise with your lender and make property enquiries to determine if any government authority has a proposal that affects the property and to determine the position with regard to Council rates, water charges and land tax.
Once the results of the property enquiries are known and are all clear Tony will arrange a settlement with the vendor’s solicitor and any lender. At this time you will pay the balance of the purchase moneys with adjustments for rates and charges and transfer duty on the Contract and Transfer. As the settlement occurs on an electronic platform, you will be instantly registered on the title as the owner of the property.
Sale
Initially, Tony will obtain all necessary instructions from you to allow him to prepare a Contract for the sale of the property. He will then obtain all documents required by legislation to be attached to the Contract.
The Contract will then be sent to the agent in preparation for its sale by auction or private treaty.
During the auction process solicitors for prospective buyers may wish to negotiate amendments to the Contract should their client be the successful bidder. If the property is sold by private treaty then the purchaser’s solicitor may also wish to negotiate terms prior to exchange of Contracts.
Once a buyer is found and Contracts exchanged the deposit will be paid by the purchaser and the parties will be legally obliged to proceed with the transaction.
You will then contact your lender to arrange a discharge of any mortgage.
When the purchaser is in a position to proceed after having made all its property enquiries Tony will arrange a settlement with the purchaser’s solicitor and your lender. At this time the purchaser will pay the balance of the purchase moneys with adjustments for rates and charges, any mortgage will be discharged following which you will cease to be the owner.
Latest News
New Register of Foreign Ownership of Australian Assets
On 1 July 2023 a new Register of Foreign Ownership of Australian Assets will come into effect. Its purpose is to record foreign interests in a broad range of Australian assets, to support compliance with Australian foreign investment laws and to increase visibility of...
New Optional Property Tax to Replace Stamp Duty
If you are a first home buyer then you should be made aware of a recent announcement by the NSW State Goverment which will apply to properties purchased up to $1.5m from 16 January 2023. As from that date, qualifying purchasers will be able to opt into a scheme to pay...
Electronic Registration of Commercial and Retail Leases
As from 11 October 2021 all dealings with real property, including commercial and retail Leases, must be lodged electronically for registration and can no longer be lodged in paper form as has been the case for many decades. The Lease will have to be lodged for...
Goodbye to Paper Certificates of Title
A Certificate of Title is an official paper document issued by a government authority to prove that a person owns certain real estate. It records all the details shown on the public Torrens Title Register up to the time it was issued. In the past the owner of a...
New Laws for Off-the-Plan Purchases
New Laws for Off-the-Plan Purchases Off-the-plan property buyers will soon get better protection when new laws come into effect on 1 December 2019. They will give purchasers greater rights and more certainty and will stop rorts like developers selling a one bedroom...
Latest Articles
Helping Your Children Buy a Property
With the current housing affordability crisis, many parents are wondering how they can best help their children buy their first home when they can't even afford the deposit. So, what are some of the options? Guarantor Loans - Normally, a lender will require that your...
Buying Property with Someone Else – Considerations for Property Co-owners
Buying a property with someone else is a great way to share the stress and cost of the venture. Often people buy a house with their significant other, to make a home or invest together. Others buy property with friends, relatives or business partners. Joining forces...
How Should a Vendor Prepare for a Settlement?
In the days leading up to the settlement of the sale of a property there a few things every vendor should do to ensure the settlement goes ahead smoothly and the sale proceeds end up in the vendor's bank account! Firstly, normally, the vendor's agent will be holding...
Contract Amendments at an Auction
Before an auction for the sale of a property, a prospective purchaser will often get their solicitor to send an e-mail to the vendor's solicitor requesting certain amendments to the Contract if that purchaser is the successful bidder. The vendor's solicitor will...
Final Inspections for Property Purchases
For those buying a new property, a purchaser normally conducts a final inspection of the property either on the morning of the settlement or the afternoon before. The purpose of the inspection is to ensure the property is in the same condition as when the Contract was...