what we offer

A comprehensive range of conveyancing services

There are a myriad of laws and regulations affecting the sale of land. Our knowledge of these requirements and attention to detail are what will ensure that your paperwork is not only prepared in a timely manner, but will protect your legal interests throughout the transaction.

Although most vendors accept the quoted commission payable to a real estate agent for selling their property as a fait accompli, it never ceases to amaze us how many times we witness the exact same vendors losing money (or their sale completely) and enduring stress due to what was undoubtedly an option to choose a ‘bargain’ or ‘low cost’ legal representative. The same can be said for purchasers who we routinely witness lose money due to the failure of their legal representative to heed the terms of the Contract or to make adequate preparations for settlement. The costs of legal representation are a small fraction of the overall costs of transacting on real estate.

Transacting on property is not a cheap exercise. It is therefore understandable that vendors and purchasers alike are conscious of their expenses throughout the process. Despite this, choosing your legal representative simply because they provided the cheapest quote is inviting disaster, dissatisfaction and financial loss. To achieve cut price conveyancing often requires cutting corners and this is a false economy. At Faid Warringal Conveyancing you can be sure that you have obtained the best possible value for diligent conveyancing services without compromise.

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For Buyers

Purchasing a property?

Depending on the size, price and number of owners involved with the property purchase, there can be a number of different factors that affect your settlement process. It’s important to take the time to understand each of these factors to ensure you’re up to date on everything you need to know, but we’ll guide you through everything all the same. 

Please review the below information to learn more about the purchase process and contact us if you have any questions.

Before Settlement

The Purchaser has the right to inspect the property purchased within seven days prior to the date of settlement. Contact should be made to the selling agent who will schedule a time and date for your final inspection. The purpose of this inspection is to confirm the property is in the same condition (fair wear and tear excepted) as at the time you signed the Contract of Sale.

Buyer Beware

Unfortunately, the principle of “Buyer Beware” applies to all Contracts signed by a purchaser and by signing the Contract the Purchaser is deemed to have fully read and understood the Contract together with making all necessary and complete enquiries to the relevant authorities prior to signing. It is not mandatory for a Vendor to provide all certificates relevant to a purchaser.

Cooling Off

You may end this contract within 3 clear business days of the day that you sign the contract if none of the exceptions listed below applies to you. You must either give the vendor or the vendors agent written notice that you are ending the contract or leave the notice at the address of the vendor or the vendor’s agent to end this contract within this time in accordance with this cooling-off provision.

Fees & Taxes

When negotiating a price for the purchase of a property, do not forget to take into account the Stamp Duty that will become payable by you at settlement. Stamp Duty is normally the biggest added expense to be taken into account by the purchaser.Stamp Duty in Victoria is based on the value of the property, usually the purchase price and MUST be paid at settlement. If there is a mortgage, there will also be additional Stamp Duty.

Finance

If a Contract of Sale specifically conditions that the Purchase is subject to you obtaining finance, then it is your responsibility to ensure that you make every attempt to obtain finance approval by the specified date. If the finance has not been obtained by this date, you may request an extension to allow further time for approval to be given. The Contract will also specify the period for when the purchaser must either withdraw from the purchase or request the extension.

Insurance

The Property will normally remain at the risk of the Vendor until settlement, however there have been circumstances we are personally aware of, where substantial damage was caused to a property by fire prior to settlement, and the Vendors insurance did not cover the damage.It is advised to obtain House Insurance upon signing a Contract of Sale as at this time you have an equitable interest in the Property.

Ownership

Joint Ownership: This is usually the choice of married couples and each owner has an equal share of the property.Ownership in Common: This is usually the choice of unrelated parties. In this system of ownership, tenants can hold unequal shares and same can be noted on the Certificate of Title to issue in their names.

Rate Adjustments

Prior to Settlement, Right Choice Conveyancing will undertake an adjustment of rates and outgoings to the property from the date of settlement. In the cases of some land settlements, the adjustment will be required to be undertaken as at the day of sale). The adjustment of rates will ensure that the Vendors pay all rates and taxes due on the property up until settlement date, and Purchaser pays from the settlement date.

Settlement

Settlement Date is the date the Purchaser takes possession of the Property and a specific date is usually referred to in the Contract of Sale. Electronic settlements leave less room for error and means that when you are selling, your funds will be in your account as cleared funds within minutes of settlement. When you are Purchasing, your names will be immediately registered as the Proprietor on the Certificate of Title and Land Victoria.

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For Sellers

Looking to Sell?

If you want to sell your property you need a Contract and Vendor’s Statement (Section 32). These documents go hand in hand and you cannot sell a property without either. The Contract contains the terms of the sale (price, settlement date etc), while the Section 32 is a statutory disclosure document which contains all pertinent information about the property and its title.

Please review the below information to learn more about the selling process and contact us if you have any questions.

Discharge Mortgages

Unless you have made specific arrangements with your lender, Mortgages are generally not transferable. This means that when your property is sold, the Mortgage or Mortgages together with any other charges, liens, caveats or the like are discharged or paid off. The mortgage will be paid out at settlement from the settlement funds and any balance left over will be paid as you direct.

Fees & Charges

Any Mortgage, Caveat or Charge registered against your property is required to be discharged at settlement. The fees associated with the removal of these encumbrances are payable by the Vendor is reflected in the adjustment statement. Right Choice Conveyancing charge Professional Costs which will be quoted over the telephone and or email on request. You may also need to allow for the usual disbursements for searches and property enquiry certificates required.

Rate Adjustments

Prior to Settlement, Right Choice Conveyancing will undertake an adjustment of rates and outgoings to the property from the date of settlement. PURCHASERS PLEASE NOTE in the cases of some land settlements, the adjustment will be required to be undertaken as at the day of sale). The adjustment of rates will ensure that the Vendors pay all rates and taxes due on the property up until settlement date, and Purchaser pays from the settlement date.

Settlement

Settlement Date is the date the Purchaser takes possession of the Property and a specific date is usually referred to in the Contract of Sale. Right Choice Conveyancing were one of the first Victorian Conveyancing firms to settle on the new PEXA electronic Platform (Property Exchange), being trusted with the first settlement process televised from our office.

Vendor Statements

When selling, or buying, your Melbourne or Victorian property there are a lot of legalities involved and at times it can be overwhelming. Melbourne’s Right Choice Conveyancing specialises in all areas of property sale and purchase. Rather than you having to work things out on your own, the qualified team of experienced Conveyancers will assist you to understand all the issues involved.

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For Developers

Whether you’re a new or experienced property developer, our senior conveyancers are the experts in ensuring your settlement process is as efficient and seamless as possible.

If you’re looking to buy or sell a commercial property or multi-unit complex, we’ve got the the experience and the legal know-how to ensure that every detail is covered and handled in a time-sensitive manner – from legal requirements and contracts to the day of settlement.

Please review the below information to learn more about our developer offering and contact us if you have any questions.

Attention To Detail

Commercial and multi-unit properties require a more complex settlement process, with many legal requirements and details to consider. We ensure everything is handled with a very high attention to detail, ensuring nothing is missed and your property asset is protected.

Time Sensitive

We understand that the settlement process needs to be completed within a strict timeline to ensure that your property transaction can proceed as smoothly and as cost efficiently as possible. Our team of conveyancing experts work diligently to meet these deadlines and ensure nothing holds up the process.

Settlement

Settlement Date is the date the Purchaser takes possession of the Property and a specific date is usually referred to in the Contract of Sale. Electronic settlements leave less room for error and means that when you are selling, your funds will be in your account as cleared funds within minutes of settlement.

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For Investors

Property is one of the most popular opportunities for those wanting a medium-long term asset investment.

If you’re looking to purchase or sell an investment property, Right Choice Conveyancing is here to guide you through the process, so you can feel confident that your investment is protected.

For more information on the settlement process, please refer to the Buying and Selling services above, or contact us if you have any questions.