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When to engage services of a Conveyancer - confused newbie

Discussion in 'The Buying & Selling Process' started by Desperado, 18th Aug, 2016.

  1. Desperado

    Desperado Member

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    Hi guys ,
    I have read through threads on this matter on the old SS forums but still don't quite understand.

    So I understand the process to be
    -find property, make offer through a general email / letter that I draft myself. At this stage I am to believe nothing is legally binding, so offer would say price , subject to finance , subject to b&p

    -if offer gets accepted it is NOW I take the contract to a conveyancer to look through for me ? Then conveyancer will look through everything and I sign the contract , now it is legally binding ?

    Thank you so much for your reply, I'm very nervous about making my first offers , I don't want to sign something that I shouldn't.
     
  2. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    If you haven't already spoken to a conveyancer or solicitor, you need to do this as soon as you sign a contract, but preferably before signing.

    In VIC, you'd get the section 32 checked by a conveyancer before buying at an auction, or in the 3 day cooling off period if the purchase is via private sale. I think QLD is similar.

    In NSW you'd do it prior to an auction or during the exchange period if by private sale.
     
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  3. Agent30yrs.

    Agent30yrs. Well-Known Member

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    What state are you in Desperado ?
     
  4. Desperado

    Desperado Member

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    Awesome thanks guys,
    I am looking to buy in Brisbane atm
     
  5. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    You should seek elgal advice before entering a contract.
     
  6. Colin Rice

    Colin Rice Mortgage Broker Australia Wide Business Member

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    Yep better to get an eagle eye to look aver the contract before you sign. I recommend this to all my clients as a use a settlement agent that is also a lawyer. Not a common combo in WA.

    Be aware that this could mean your offer goes to the bottom of the pile in a hot market as REAs can get a bit antsy as hardly anyone actually does it.
     
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  7. kierank

    kierank Well-Known Member

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    Put in a clause that your offer is subject to your solicitor's review to your satisfaction within 5 business days of contract signing. I have already posted the wording I use in another thread.

    I have never signed a contract without this clause. I have never terminated a contract because of this clause.

    It is a SANF.
     
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  8. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    If the offer is subject to finance, B&P etc - then I'd (personally) have a solicitor look at it after offer has been accepted. You generally negotiate a two-three week period to arrange finance which offers enough time to have solicitor look over everything.

    Cheers

    Jamie
     
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  9. Agent30yrs.

    Agent30yrs. Well-Known Member

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    As @kierank says a subject to solicitors approval clause is sound - also means if there is some urgency you can commit to a contract quickly if need be and you have a simply get out option .

    happy to supply a clause if you need one, or google
     
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  10. JacM

    JacM VIC Buyer's Agent Business Member

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    The most stress-free way to do it is to choose a conveyancer first (before you even start looking around for a property), so that the moment you have an interest in a property and want them to look over the contract, you know exactly who to contact and do not waste any time.