Why our Contracts are the best in NSW
Why is our contract the best for you, the seller? To be honest with you, many law firms out there will have a standard form contract with the additional special suite of special conditions. We're the same. We have a suite of special conditions intended to help you advance your needs and protect you as much as possible. But that's not really the selling point. The selling point is in the quality and attention to detail that we give to your transaction.
Talk to us, tell us what it is that you want. Tell us what it is that is unique about the property, and we'll make sure that the contract reflects your property. We'll make sure the contract contains the right disclosures so that your buyer, even if they have a change of mind, will not be able to walk away after they've signed.
Special Conditions - what are they and why you should be careful
What are special conditions? Why are they special? Well, they're special because they're supposed to be unique to the transaction. They are additional special conditions tacked on top of the standard ones that are issued by the real estate institute of New South Wales. Why should you be worried? Special conditions are drafted in the first instance by the seller's lawyer for the seller. Not for you. Why do you need us? We read through the special conditions and tell you if they're good for you or not.
Beyond that, make the special conditions work for you. That is, if you have a special need, talk to us, we'll draft the right special conditions, make the right amendments to the existing ones, and put it into the contract before you sign so that you know what you've signed up to is what you've agreed to. Not what the seller says.
Did you know - debt transfers to you? That's why we order search certificates
Did you know that debts can transfer to you after settlement? Well, first of all, what are debts? I'm talking about council rates, water bills, land tax assessment notices, owner's corporation levies, if applicable. What are these things? Well, they're carrying costs. If you don't know what they are, look it up. When you own a property, you always have to pay the authorities for services and utility. That's what it is, really. But the last thing you want as a buyer is to pay the seller's bill.
How do you prevent it from happening? Come to a competent conveyancer who does the right searches for you and does the right calculations for you to make sure that all debts are paid by the seller before settlement.
As a Buyer, WHEN exactly do you need to engage with a conveyancer
As a buyer, when do you need to engage with a conveyancer? To be completely honest with you, as early as possible. Why? We are a wealth of information at your disposal. We've done so many conveyancing transactions. We've seen so many things go right and so many things go wrong. All you have to do is come to us and talk to us about what you want, as early as possible, before you found the right property.
That way, at the very least, we can have a friendly discussion about what you want, where you're going, and probably share with you some interesting stories so that you can try and sidestep issues before they even come calling.
Real estate agents are NOT your friend - they represent the seller!
The real estate agent is not your friend. Why? That's because he's on the other side. The seller's agent is called the seller's agent for a reason. They act for the seller. They can absolutely help you get the property that you want, it is what they do, but they ultimately represent the interest of the seller, not you. So, what do you do? Come to us. We are your independent adviser that's a 100% in your court.
Let us decipher what are these that the seller agent has told you. Let us help you negotiate the deal, that makes it the best deal of your life. And let us help you generally through the process so at least you know you've got someone to lean on in this stressful conveyancing process.
So… what exactly does a Buyers Conveyancer do?
What exactly does a buyer conveyancer do again in very, very simple terms?
Three things. First, make sure that the transfer is prepared correctly to put your name on the title exactly as what the contract says. Number two, do the calculations of the purchase price and the money needed to be paid on settlement so that your money knows exactly where to go. Number three, settlement itself. That is, making sure that you settle on time and all these special conditions of the contract are observed exactly as what it says.
How exactly a Conveyancing Lawyer protects you
Did you get yourself into trouble after you've signed a contract for buying a property in New South Wales? No worries. Might be a little bit too late for us to sidestep the issue altogether. But, if we're involved, we'll absolutely do our best to help you navigate those issues and get you to the best possible outcome available, given the circumstances. How do you sidestep the issue altogether? Come to us before you sign. Let us do a review for you and tell you what you need to do to get rid of the issue altogether.
3 things you need to do before bidding at auction
What do you do when you're looking to buy a property at auction in New South Wales?
Remember, there is no cooling off to buying a property at auction. Three things you need to do therefore, number one, go and get the building and pest inspection done to confirm that the quality of the property is acceptable to you before you buy. Number two, get your finance approved so that you know you have the money you need to complete the purchase. Number three, get a pre signing contract review done so that you know exactly what you're signing up to, before you sign on the dotted line.
Why you ABSOLUTLEY need a Contract Review
Why do you need a pre signing contract review?
Again, three things; Number one, do you know what is standard if you've been told that the property is standard from beginning to the end? know that it's probably not, if they've overemphasised it. Number two, do you know what is unique about this property? Every single property transaction is different. You need to make sure the contract reflects you, and your needs. Number three, do you know what's missing from the contract? Remember what's missing and cannot be read is probably one of the most damaging things that could occur to you after the contract is signed.
What is a “cooling off” period?
The cooling off period is a statutory right protecting consumers which is embodied in most standard contracts of sale in most States. The cooling off period varies depending on the State and there are always some exceptions to the rule, for example, cooling off generally does not apply to auction contracts. It is important to consult with your conveyancing lawyer to confirm whether the cooling off period would apply to you.
If the cooling off period does apply and you want to rely on it to walk away from the contract, you must be prepared to pay the relevant penalty to the seller for exercising your right. This penalty is also allowed in the statutory provisions as a way of protecting the seller from disingenuous buyers.
It is important to also ensure that the cooling off notice is properly served (delivered) on the seller and / or their representatives. Remember that if it is not done properly, it could result in you losing your rights under the cooling off period, leaving you still bound to complete the contract. If you are unable to complete after the lapse of the cooling off period, you’ll be risking your full deposit rather than just the cooling off penalty.