Purchasing Property
Importance
A contract for the purchase of real estate is an extremely important and legally binding document. A purchaser should only enter into such after receiving comprehensive legal advice. The receipt of proper legal advice before signing the contract provides a purchaser with a fully informed decision as to whether or not to proceed and what to expect upon completion of the contract.
Our firm’s ‘point of difference’
Our firm treats each contract for the sale of property individually.
We do not provide only general advice and hope that this is sufficient. Instead, we examine the contract of sale and vendor disclosure requirements in detail. The assessment of the contract by our firm is conducted over several hours and we are happy to explain the contract to you in simple terms.
Should I obtain advice before signing a contract?
Definitely! An agent’s role is to advocate the interests of the vendor. Whilst many agents are friendly, their job is to sell the vendor’s property. Furthermore, quite often an agent’s commission is in excess of $10,000.00. Therefore you should carefully consider whose interests the agent is looking out for when representations are made.
There are many traps in a standard Contract of Sale which are difficult to identify.
Whilst agents claim that the purchaser can rely upon the cooling off period, it is common for the contract not to be provided to the purchaser’s representative until after the cooling off period has expired.
Our firm’s benchmark is to provide clients with the initial advice within 48 hours of the receipt of the contract.
We are also able to meet with our clients after hours and on weekends. Our flexible meeting options provide clients with the opportunity to meet with us and discuss the contract in person before proceeding.
Before engaging a law firm or conveyancing practice – you should consider and ask the following questions:
1. Does the firm provide personal service or just hope that a purchaser’s matter fits the standard advice?
We know that many firms provide only a generic letter of advice that provides little particular insight into each individual contract.
At First Point Legal & Conveyancing Wodonga we provide comprehensive formal legal advice together with an easy to understand, plain English guide with no less than 70 relevant points specific to your contract.
2. Is the firm acting for the vendor’s agent or for you, the purchaser?
This is one of the most important questions to consider when engaging a lawyer or a conveyancer.
Many lawyers and conveyancers are too concerned about jeopardising their referral relationship with the selling agent and gloss over their responsibility to act in the true best interests of the purchaser.
Proudly, most of our referrals are from existing clients. Whilst we have many positive working relationships with local real estate agents, we are clear in our approach to the conveyance. Our role is to only act for you as the purchaser.
3. Will the firm provide you with written advice before signing the contract or direct you to attend the office and then “sign here”?
It is important that you as the purchaser are able to make a fully informed decision before entering into a legally binding contract.
We are friendly and approachable, which encourages clients to ask questions.
We also offer meetings after hours and on weekends which provides clients who are unable to leave work during normal business hours with the opportunity to meet with us and discuss the contract.
4. Will the firm provide you as a purchaser, with updates during the course of the matter?
During the course of your matter, we provide no less than 5 updates at important stages so that you are fully informed of the conveyancing process.
5. At what times can a client contact the firm?
First Point Legal & Conveyancing Wodonga stand out from other firms because we can meet with clients after hours or on weekends to suit their own work commitments.
Clients can directly email the lawyer handling their file at all times.
6. What standard fees do First Point Legal & Conveyancing Wodonga charge?
Our standard fee estimates are as follows:
Victoria Purchase Matters
Pre – purchase contract advice: $550.00 only
Purchase of a dwelling: $1,518.00 (including GST and standard disbursements)
Purchase of a rural property: $1,500.00 to $1,800.00 (including GST and standard disbursements)
Purchase of vacant land: $1,518.00 (including GST and standard disbursements)
New South Wales Purchase Matters
Pre- contract advice: $550.00 only
Purchase of a dwelling: $1,650.00 (including GST and standard disbursements).
Purchase of a rural property: $1,600.00 to $1,900.00 (including GST and standard disbursements)
Purchase of vacant land: $1,650.00 (including GST and standard disbursements)
How does a purchaser engage First Point Legal & Conveyancing to act on their behalf with regard to their purchase?
Please contact us as early as possible so that we are aware of your intention to purchase, whether by email or phone call.
Advise the vendor’s selling agent that you instruct First Point Legal & Conveyancing Wodonga to act on your behalf and direct that contracts be sent to us for review so we can provide you with advice before you sign.