A purchase contract will generally favour the vendor/seller; therefore, it is prudent to have it reviewed by an experience qualified Lawyer.
Send a copy of your contract of sale to us or have your agent do it. As part of the review process we will consider the following;
Where a property you purchase has any unpaid Land Tax, Accrued Council Rates, Water Bills or Outstanding Body Corporate Fees attributed to the property by the existing owner, it can be transferred to you as part of the purchase, unless it is identified and rectified? Don’t be fooled by cheap conveyancing prices and ensure you have a trusted Lawyer working for you.
Conveyancing is a complicated legal process that eventually finishes with the changing of property ownership into your name.
The process becomes complicated because when a property ownership changes into your name, any problems, issues and money owed on the property also change into your name.
Hence in Queensland its “Buyer Beware”. This is where the value of your Conveyancing Lawyer is worth the Fee you pay.
A.L.F. Clients only deal with one person who is a qualified Lawyer and or has more than 15 years in conveyancing.
This person will be your point of communication and will liaise with your Agent, Bank or Lender, the Vendor’s solicitors, Council, Water Utilities.
Some firms will try to use Searches to confuse potential clients and make their fees look lower than other firms. This is purely nonsense as generally most respectable legal firms will charge clients the price of searches at the same cost as charged by the service provider. This means, that comparing legal fees inclusive of searches is like comparing apples with tomatoes.
Searches are used by Lawyers and clients to verify any money owed on the property with respect to services and body corporate, to identify any restrictions associated with the property and more generally to identify a rafter of issues and problems that could negatively affect the property and the value of the property. More information on searches is provided in one of our Blogs.
A client’s decision to spend money on a search should be influenced by what that search can identify as opposed to the price, particularly given the price paid for the property purchased. Keep in mind that Lawyers have no financial or otherwise interests in searches as these are operated by independent companies and councils.
At times, the conveyancing of a property will go smoothly from beginning to end, however more and more often property purchases are far from smooth. Unexpected situations are where conveyancing can become complicated and requires an experienced legal professional to promptly intervene, advise you, handle the problem effectively and communicate with all involved. The examples below illustrate areas where how much you are paying in conveyancing fees becomes less important than having a good Lawyer working for you.
A simple extension of contract due to finance can go terribly wrong if your Lawyer is not contactable, left the office at 4.55 p.m. or does not have experienced support people that can step in if other work priorities take over.
An unexpected result in a search can influence your purchase where the person handling your file inexperienced and part of a team that are processing your file. In firms where, multiple people are used to manage your file, the one with the experience to understand the problem may not always be available.
A delay in settlement may occur when something goes wrong with the financial lender or the other parties Lawyer and your Lawyer is not prepared to go the extra mile to rectify the situation as it’s not their responsibility to do so even though, you the client will be inconvenienced.
Most clients purchasing for their first time have no idea of the potential stress, worry and additional costs that can result from conveyancing of a property. Delays in relocation due to extensions can be costly and stressful. Finding out your new property has improvements that were never approved by the council can be costly. Finding out that your new property has unpaid body corporate fees which were not paid by the previous owners and now your liability can be tremendously stressful and costly.
The team at A.L.F. Lawyers understand Conveyancing and the potential problems associated with the process which is why they can be trusted with the purchase of your property.
There’s nothing worse than trying to save pennies on your conveyancing fee and end up paying thousands because your conveyancing was done cheaply.