It is important if you are buying that you read the Five-Step Guide before you sign a Contract to Purchase.
Here’s a quick summary for anyone contemplating buying a property in the State of Victoria Australia.
If you are buying at auction, the Contract is unconditional and any cooling off rights do not apply. You must have conducted all your due diligence beforehand, including having us look over the vendor’s statement and you’re confident your finance is approved.
If you are buying by private negotiation you generally have the benefit of the 3-day cooling off period from the date you sign the Contract. You also have the right to negotiate terms, including making the contract subject to finance, subject to a building and pest inspection and/or the contract is subject to your lawyer’s approval.
Hayton Kosky has been handling conveyancing transactions for over 25 years. Our firm has pioneered the use of digital conveyancing and leads the way in using technology to make the process easier to understand and more transparent. Digital technologies are one of the reasons that we act for many interstate and overseas clients.
If you wish us to act on your behalf, the following is required:
- Complete the Buying Questionnaire as well as you can and submit. If you don’t know the answer to any particular question don’t worry, simply leave it blank.
- Send us a copy of the Contract & Section 32 Vendor’s Statement by email for our review and advice.
Wherever possible we offer a fixed price service. We will confirm our quotation for conveyancing charges in writing.
Our Professional charges will consist of:
- Quoted Professional fees (covers the scope of services described below).
- Additional fees for work performed but not covered by the quoted scope of services.
Disbursement expenses include property enquiries, international telephone calls, faxes, photocopies & government fees. We expect there will be disbursements incurred which will generally be between approximately AUD100 & $200. We will necessarily pay out monies to government authorities for property enquiries, title searches and various statutory authority certificates on your behalf. Please note an Owners Corporation Certificate is $150. We will advise you of those charges and include them in your final account at settlement.
Our most important function is to protect your interests and our Scope of Services can include but are not limited to:
- Taking Instructions
- The review of Section 32 Vendor’s Statement and Contract of Sale and advising you
- Making enquiries regarding the property and ordering certificates and searches
- Liaising with your Bank;
- Making enquiries of the Vendor;
- Stamp Duty assessment and advice on any concessions or grants
- Preparing the Transfer of Land in accordance with your instructions;
- Arranging settlement with the parties involved on the PEXA platform;
- Preparing the statement of adjustments;
- Notifying authorities that property has been purchased and
- Regular correspondence with you reporting on the progress of purchase.
This is not an exclusive list of the functions we are able to undertake for you, but we hope it does provide an understanding of the scope of our services.
Any questions or queries please contact us. We look forward to acting on your behalf.
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