Buying a property?
When you’re buying something as big as property, you’ll need the right team of professionals in your corner to make the process as smooth and risk free as possible.
Preliminaries
Unless you’ve got the cash at the ready, the first step is to take care of your finances. That means you’ll need to attend to those pesky overdue tax returns and then find a lender (e.g. bank) to loan you the funds. A broker is a good option if you don’t have the time or inclination to shop around. Once you’ve sorted out where the cash is coming from, find a quality building and pest inspector to make sure you’re not buying a house of cards. The report fees might cause you to wonder if you’re being OTT, but the cost of rectifying building problems later is likely to cost much much more. Finally, once you’re primed to pounce, you’ll need someone to take care of the legals.
Get the contract reviewed!
Before signing or within the 3 day cooling-off period, make sure to get the contract reviewed by an experienced team for peace of mind. A professional will trawl through the documents on the lookout for unfair special conditions, unusual provisions, missing paperwork, building permit issues, planning developments affecting the property and other matters that are likely to cause headaches. When you’re about to spend big bucks, getting the contract reviewed by experienced property lawyers is just common sense.
What will a good lawyer do once I’ve signed the docs?
- Perform searches on the property to make sure the contract is correct and there aren’t any undisclosed nasty surprises (such as a freeway proposal next door, an order for removal of an illegal structure on the land, or a lurking and expensive ‘Owners’ Corporation’ levy);
- Prepare all the necessary documents to legally transfer the property to you, assess the stamp duty, and notify the council and water authority of your purchase;
- Calculate the adjustment of rates and taxes;
- Liaise with your broker/bank to make sure you’ve got sufficient funds to settle on time and avoid penalty interest;
- Liaise with the real estate agent to get you those keys!
At McManus & Co we do all of the above for an affordable fixed fee and keep you in the loop at every step. And, of course, you’re welcome to contact us at any time with questions – after all, it’s a big purchase.
If you are on the verge of purchasing a property, check out our website to get started, or to find out more information about our fixed fees and our team.
T 9318 4188
