How we make BULLET proof contracts for sellers - and why you should care

How do we make bulletproof contract for sellers? It's easy. We actually talk to you. We talk to you to interview you for what is unique about the property. We remind you what you might have done to the property in the last 7 years. And we tell you that you need to get certain documents to us. We're one of those conveyancers who will stand our ground and not issue a contract unless it is fully and completely done and done right.

It's just so that you don't end up wasting time, signing a buyer and ending up losing the guy because you haven't actually done the right thing. We are here to be your independent adviser. We are here to help you. And we are here to make sure that the contract reflects exactly what you need. What do you need? Something that doesn't let the buyer walk away.

As a seller, WHEN exactly do you need to engage with a conveyancer?

As a seller, when do you have to engage a conveyancer? Pretty much as soon as you thought of selling your property. Why? We conveyancers are a wealth of knowledge. We've done conveyancing for so long that we can pretty much tell you everything that needs to happen by the book, and anything that's a little bit odd. Talk to us as early as possible. Engage our services at least two weeks before you put the property on the market.

So, we can tell you what you need to do, and you can tell us what's unique about the property so we can draft the best contract there is for you.

What are Prescribed Documents for Sellers? And why do you need one

What are prescribed documents? You must have come across this term a couple of times. If you haven't, they might have just called it the 10.7. Whatever it's called, prescribed document just means the documents that are prescribed, i.e. Required by law to be provided to the buyer. 10.7 is just one of them. The one that takes the longest to get, it's the one that is the most important, but absolutely not the only one.

Some of the basic ones are title search, plan, 10.7, sewage diagram, and anything else that might be relevant to your particular property. Got a swimming pool. We will need a certificate of registration and compliance. Built a property recently, the occupation certificate is what you need to attach. You need to tell us what it is that's unique about the property. So we can tell you what is the prescribed document for your case.

My 3 Secret Property Lawyer Tips for Sellers

My three secret property lawyer tips for sellers. Number one, make sure the contract works for you. How do you do that? Talk to us. Tell us what it is that's important about your property. Tell us what it is that's unique about your property. So that we can make sure the contract reflects your needs. Number two, make sure everyone is ready for settlement, including your bank. Why? Banks hold up settlement. The sooner you tell your bank that you're looking to sell the property, the sooner you can get advice on what you need to do to settle the transaction.

Number three, be open and transparent to your buyer. Yes, you might have extended the balcony without permit. Yes, you might have knocked down the wall without telling council. It's okay though. When the buyer comes through, they will check the property. If you tell them, they will check that specifically and make sure that they're happy. If you don't tell them, and they find out they're going to be turned off. Be open. The more open you are, the easier the offers will come.

Got a buyer? GREAT. How we BIND sellers fairly to the full extent of the law

Found a buyer? Fantastic! What do you do to ensure that the buyer sticks to the deal? 

Number one, again, talk to us so we can draft the contract and make it the best contract out there for you. One that contains all the right disclosure documents, all the information that a buyer would want so that they know exactly what it is that they are signing up to. Two, when a buyer comes to you, they'll ask for the world. How do you ensure that they only get what you're willing to give? Well, by telling us, so we can draft the right special conditions that outlines exactly what it is that they want and exactly what it is that you are prepared to give. Remember, in property law, the power is in the words.

Did you know, the first 3 people that inspect your property are most likely to buy

Did you know that the first three buyers that walked through the door at an inspection are the most likely to buy? 

How do you ensure that this works to your favor? Easy, come to a conveyancing lawyer early. So, we can draft the contract for you, two weeks in advance of the inspection. Why? It's just so that you give us enough time to interview you for the information about the property. Enough time to order the right prescribed documents to attach to the contract, and of course, work with you and your potential buyer to answer any and all inquiries, even before they walk through the door.

So… what exactly does a Sellers Conveyancer do?

What exactly does a seller's conveyancer do? Three things; Number one, draft the contract and make sure that it fits your particular intended purpose. It's not just about selling the property, it's about tying the buyer down. Number two, the exchange process. Now, in New South Wales, the exchange process can be done by the selling agent or the seller solicitor. Really depends on what it is that's happening and how much depth is required. We, conveyances solicitors are able to do the exchange process in the right way, without hassle.

Number three, the conveyance. The conveyance is really just to put the buyer's name on the title and get you the money that you wanted on settlement. Doing it in a stress-free manner, doing it in an efficient manner, doing it in a way that makes you feel at ease is what we do. Work with us, you won't regret it.

Need a contract drafted? We can help. Here is the process to draft a document

Selling a property? Need a contract drafted? Here's what you do. First, get a rates notice. We need the rates notice to know the details about the title so that we can then order the right searches for you. Number two, answer a list of questions that will send to you so that we would know a little bit more about you and the property that you're trying to sell. Number three, tell us more about your property that we may not be able to get from answering the questionnaire.

You as the seller will know absolutely everything there is to know about the property, the buyer will not. But it is in the absence of information that allows the buyer to walk away. So, talk to us, let us know what it is that you need. Let us know what it is that you are selling so that we can put together a waterproof contract for you.

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.

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.