Fox Cheshire

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0434 369 600

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  • Home
  • About Us
  • Areas of Practice
    • Business & Commercial
    • Conveyancing
      • Buying Property
      • Selling Property
      • Retail & Commercial Leasing
      • Retirement & Nursing Home Property
    • Family Law & Divorce
      • Children
      • Divorce & Separation
      • Separation of Property & Assets
    • Wills & Estate Planning
      • Preparing your Will
  • For Clients
    • Your Secure Documents
  • Contact Us

Buying property

Buying real estate

Whether this is your first or fifth property, it can be stressful and will always be expensive if you get it wrong. We can and want to help.

Before You Start

The first round of decisions you will likely need to make is in regard to finance. Make sure you understand your options, have 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.

Pre-purchase Inspections

Once you have found a property you like, it is advisable to consider various pre-purchase building inspections, pest inspections and/or a strata 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. We are happy to arrange or recommend inspectors we rely on.

Making an Offer

If you’re happy to proceed, you can 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.

At this point we recommend having one of our team review the contract and consider any amendments that may be required.

Signing the Contract

If your offer is accepted then we must see the contract you’ve been given and discuss your situation, your needs and any amendments to be negotiated. 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.

When you do sign the contract you will need to pay the 10% deposit, unless we have negotiated a special condition otherwise. This is held with the real estate agent and is released to the seller after the property is settled. If you don’t have 10% available Fox Cheshire can advise in regard to getting a deposit guarantee in lieu of the cash.

Settlement

After the contract has become binding, Fox Cheshire has a number of tasks to perform including:

  • Arranging payment of stamp duty
  • Liaising with your lender in regard to all their requirements around your mortgage
  • Checking with various government authorities to see if they have any 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 Fox Cheshire 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 you become the new owner!

Contact us to discuss the specific property you are considering buying with an experienced property lawyer.

Conveyancing

  • Buying Property
  • Selling Property
  • Retail & Commercial Leasing
  • Retirement & Nursing Home Property

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Fox Cheshire

Fox Cheshire have assisted small and large businesses to start, grow and flourish, have bought and sold hundreds of properties with our clients, and have stood with thousands of clients to achieve or defend their legal position.

Our Advantages

At Fox Cheshire, we understand you, and we make sure you understand us. Our 20 year plus Principal and the team will build with you, create with you, stand up for you and protect you. Talk to Fox Cheshire about your legal needs. How can we help you?

Contact Us

  • Suite 302, 71 Longueville Road Lane Cove NSW 2066
  • 0434 369 600
  • paul@foxcheshire.com.au

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