Buying Property

Property & Conveyancing

How We Can Help Buying Property

Buying a home is one of the most stressful and expensive things you will ever do. It’s vital that you seek legal advice from someone experienced in property law and who knows the area.

Find out more about how we can help Buying Property.

We’re With You Every Step Of The Way

The first step is to start applying for a home loan. Make sure you read everything thoroughly, from the pre-contractual statement which outlines the fees and charges to which you’ll be subject to the actual mortgage contract itself. Remember you are entitled to legal advice and are under no obligation to sign anything on the spot.

Pest & Building Inspections

Once you have found a property you like, you will need to arrange a pre-purchase building inspection report and perhaps a pest inspection report. These are written reports about the condition of the property and helps you find out any potentially costly problems. You may be able to use this information to negotiate a reduction in the purchase price. If you’re not sure who to trust to do this inspection, talk to us.

Making an Offer

Once you’re ready to proceed, make an offer. You might be asked to pay a small sum as an initial deposit, but this is fully refundable if you don’t end up signing the contract. It does not mean that the property is yours yet either, as the agent can take other offers.

Signing the Contract

If your offer is accepted send the contract through to us so we can review it for you. There may be several things that can be negotiated in your favour, and you need to be absolutely clear on your rights and responsibilities before signing.

At this point, you’ll need to pay a deposit (usually 5 or 10%) that will be held by the real estate agent, unless you’d like us to negotiate a special condition on your behalf.

Settlement

After the contract has become binding, we will have a number of tasks to perform such as:

  • Arranging payment of stamp duty
  • Liaising with the lender in regard to the mortgage
  • Checking with various government authorities to see if they have a vested interest in the property
  • Checking to see if there are any outstanding debts to local council
  • Calculating adjustments for council, water and strata rates
  • Making final checks on the title

On settlement day, we will attend a meeting that will include the seller’s lawyer/conveyancer as well as any lenders involved and the funds will be handed over in exchange for the title and the keys.

Do you have a specific property you’d like to buy? Speak to us to find out how we can help. 

Arrange a consultation with experienced Lawyers in Newcastle