First time buyer confusion: expectation for solicitor

So once we have our offer accepted, and we are about to sign our contract, so we want our solicitor to review the contract before we doing anything. How early can a solicitor do that for us? Could it be done over a phone call? Or generally he would need 1-3 days to do his Due Diligence before telling us the result? We are first time buyers and dont have the standard in mind.

Since the market competition is really intense, and the selling agent is urging us to sign the contract earlier, while we are waiting for the solicitor now.

Just want to have a general idea of the time needed, thanks !

 

Depends how busy the solicitor is - can't you call them and ask them?
It's the selling agent's job to put pressure on you to sign ASAP - I wouldn't let them get to you.

 

you know competition is intense because.....

you see properties going under contract quickly?
The agent says so?

 

Yea, we did call, but it's more like they are very busy , and then can only afford to review it after you keep reminding them.

I mean, would getting a solicitor from a bigger firms be better? I suppose more staff, less workload for a solicitor ..?

 

many buyers go to inspection, we notice new listing came out just for a days and then got under contract immediately.

Seeing those properties got snapped up so quickly its making us nervous haha!

 

What does that mean?? When you call and ask "how long will it take to review my contract?" what do they say?
Getting a bigger firm doesn't mean you'll get better service in my experience

Try not to be so nervous about it all (hard sometimes I know)
Why isn't your bank helping you, you should use a broker.

 

We waited on the first day after we sent him the contract by email and got his response he will do it quickly, and then the third day we called the solicitor several times and he didnt answer, and he messaged us he was busy, and after 3-4 hours he called back and did a review with us going through different parts the contract over the phone.

Perhaps we should call him straightaway on the first day, but doubt if he is free to answer it lol

 

Where did you find this solicitor?

 

Sorry , dont get your point , may we ask what bank / broker could help us?

They could help us arrange the contract review with the solicitor, so we dont need to remind the solicitor?

 

Mortgage broker's referral

 

Does a "contract review" need some due diligence work , or just to take a few minutes screening the contract ?

 

The contract review refers to the contract only. Due diligence is separate, when you speak with your solicitor you can ask about which searches they are doing. Usually they will do a title search to check the owner and maybe a council search - that is probably the extent of due diligence your solicitor will do.

 

Once your offer got accepted, how long did your solicitor finish reviewing the contract?

 

It sounds like you're really unclear on the WHOLE process of buying a property, I may be wrong?

 

If the solicitor isnt busy it shouldnt take more than a day turnaround for a contract review. What is your location as the buying process and practice varies by state and even suburb.

 

We have a mortgage broker who helped us to apply for pre-approval and valuation quotes. Anything we have done wrongly?

 

Queensland, while our solicitor is based on Syd.

We wonder if it will be better if we find a solicitor in our suburb. So we could just visit his office and spend 5 minutes with him for a review.

Probably faster than calling several times a day and couldnt get through..

 

Tr(D)ump your solicitor before the cooling off period expires and get a local one! Time is of the essence here and there is no excuse for not getting back to you in a timely manner. Don't accept mediocrity!

Happy to recommend Rivercity Conveyancing. Recommended to me a long time ago by Rolf L, used them many times and John Horrocks, the owner/solictor there knows his stuff.

 

It sounds like your solicitor could be faster, but it really just depends on their workload and how they prioritise your work. So yes, maybe a local practice focusing on conveyencing might have been able to serve you better.