Buying & Selling Property

Buying and Selling Property

 

Our Services

 

Our approach

We offer a property transfer service that is quite distinct from that offered by conveyancers and indeed even other property lawyers.

When you engage us to act on your behalf in relation to a property purchase or sale, you get experienced property lawyers.

As a purchaser you may receive free advice before signing your contract (if you approach us before you sign) and throughout the course of the purchase right up until settlement is completed.

Whether buying or selling, we actively monitor and advance the process from signing to settlement. We make it smooth.

Free advice

We offer you free advice on your contract and section 32 before you sign certain property purchase contracts.

You may receive free advice on one property (contract and section 32). The advice is free only for basic purchases of established dwellings.  For more complex purchases (e.g. off the plan purchase, house and land, or commercial property) we would provide a quote upon sighting the documents before you make a decision as to whether you wanted to proceed.  Depending the on volume of documentation, the nature and complexity of the advice, our costs may range anywhere between $275 and $550.  Again a quote would be provided on sighting the relevant contract and section 32 vendors statement.

If you don’t proceed with the first property then, for every subsequent contract and section 32 that you send through for advice, we would again provide a quote.  For basic purchases, the advise in each case would be estimated to be between $55 and $88.

Home Buyers

Our costs & disbursements

For purchase of an existing residential property, we charge at a competitive rate of $750 (plus GST) plus disbursements.  Our costs are payable at settlement.

We do not charge any surcharge for disbursements (or out of pocket expenses).  The amount that we get charged is the amount that will be billed back to you.

Disbursements may include the following:-

Title search

A title search to ensure that the vendor is the registered proprietor of the property and has the right to sell it.  The title search will also inform us as to any mortgages or caveats that may appear on title.  We would ensure that any such encumbrances are removed at settlement so that the purchaser receives clear title.  The cost of the title search will be approximately $15 to $20 depending on the number of instruments (e.g. covenants, plan of subdivision, owners corporation schedule) forming part of the title.

Rates and Planning Certificates

A Vendor is real estate in Victoria is required to make various disclosures about the property being sold.  Those dislcosures are contained within the Section 32 Vendors Statement.  The Vendor is required to provide you with a signed copy of this Statement before you can make an offer to purchaser.

One of the ways in which the vendor fulfills their dislcosure obligations is by attaching to the Section 32 Vendors Statement various rates and planning certificates.  They may include the following:-

  • Land Information from the Municipal Council (approximately $33).  Each Council will set its own rate independently.
  • Water Information Certificate from the local water authority (e.g. City West Water, Yarra Valley Water, South East Water).  Each water authority will set its own rate independently.
  • Planning Certificate (approximately $22).  The Planning Certificate will confirm the zoning of the property and whether the property is subject to any overlays.  The zoning and any overlays will specify the permitted use of the property and state which proposed uses are permitted, which are prohibited and what uses are perm any proposed uses are prohibited
  • EPA Certificate (approximately $22).  An EPA certificate will confirm whether the property has been identified as one which is subject to any form of pollution (e.g. noise, air or soil pollution).
  • Heritage Certificate (approximatel $22).  A Heritage certificate will confirm whether a property is heritage protection.  This is of particular interest to purchasers who may be proposing to renovate or even demolish a dwelling.  Demolishing will almost always be prohibited.  Renovating will be heavily restricted.
  • Vic Roads Certificate (approximately $22).  A Vic Roads Certificate will disclose whether there are any proposal by Vic Roads to undertake any road works which may adversely affect the property.
  • Land Tax Certificate (approximately $22).  A Land Tax certificate will disclose whether land tax is payable on the property and the amount of any such land tax payable.
  • Owners Corporation Certificate ($150).  A Vendor or real property that is managed by an Owners Corporation in Victoria must enclose an Owners Corporation Certificate within the section 32 vendors statement.  The Owners Corporation certificate will disclose such matters as the amount of any owners corporation fees payable, details of building and public liability insurance that is in place, whether there are any proposed special levies on unit owners, whether the owners corporation is involved in any litigation.
  • Building Approvals Certificate (approximately $55).  The Building Approvals Certificate will disclose whether any building permits have been issued within the last seven years.  Special disclosure rules will apply in this situation.  If there have been any building works undertaken (renovations or new dwelling), then we strongly recommend seeking legal advice before you sign your contract.

We will advise you in relation to certificates once we have seen the section 32.  Rarely do we need to obtain a full set of rates and planning certificates.

If the certificates in the section 32 are already there and up to date then we would in most cases only need to order a Land Information Certificate and Water Information Certificate (even if one is already included within the Section 32 Vendor’s Statement. Obtaining this certificate entitles us to a rate update from the council and water authority prior to settlement.

Based on your knowledge of the property and the area that it’s in, you may instruct us to forego ordering some of the available certificates.  For example, if the property is not likely to be heritage protected, you would instruct us to forego a Heritage Certificate.  If you are quite satisfied that there are no proposals by Vic Roads to undertake any road works which may adversely affect the property, then we may forego the Vic Roads Certificate.

 

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