In brief, conveyancing is the process of transferring ownership rights of a property from one person to another.
At Direct Mobile Conveyancing all of our staff are experienced in the processes and legal requirements to transfer any property in Victoria, whether you are buying:
Review the selling documentation before you sign to buy the property. This includes the Section 32 Statement and Contract Note/Contract of Sale.
Explain the information contained in the Section 32 Statement and Contract of Sale/Contract Note to you together with the different terminologies used.
Deposit Bond
Vacant Possession
Receipt of Rents and Profits
And/Or nominee
Plan of Subdivision
Stamp duty ‘off the plan’ savings
Assist you with drafting special conditions. You may wish to buy the property subject to:
Building inspection report
Soil report
Termite inspection
Selling your home
Approval from the Foreign Investment Review Board
Search the property to ensure that you do not inherit any debt incurred by the seller. At settlement we will deduct any debts from the money due to the seller (ie mortgages, caveats, land tax, council rates etc).
Ensure that the correct legal documentation is prepared to enable your name to be registered on the title as the new owner.
Search the property through the statutory authorities to ensure that you were correctly informed about the property at the time of signing.
Provide you with conveyancing advice regarding any discrepancies detected.
Liaise with your lending institution to complete settlement.
When you sign to buy a property you are deemed to have accepted the condition of the property on that day. Therefore we recommend that you satisfy all of your inquiries before you sign the contract.
Contact Direct Mobile Conveyancing to review the Section 32 Statement and Contract before you sign.
Discuss the inclusion of any special conditions and speak to your lender to determine whether you must purchase the property subject to your lender fully approving your finance application.
In many cases your lender will provide you with a Pre-Approval Certificate, however it is important to acknowledge that this certificate does not guarantee you finance.
Generally a lender will have to verify that all of the information you have supplied is correct and that their valuation of the property concurs with the contract price. Once all of this has been carried out then the bank may issue you with unconditional finance approval.
You should always check with your bank whether you need to make your contract subject to you obtaining Unconditional Finance Approval.
You should also check that you are satisfied with the:
Boundaries of the property
Working order of the appliances
Easement/drainage points
Restrictions registered on title
Body corporate guidelines
Design/Planning/Zoning requirements
You will be entitled to carry out a final inspection of the property the week before settlement, however you are only verifying that the property is in its original condition.
Therefore if an appliance was broken on the day of sale, then that is the condition you are entitled to at settlement, unless you stipulated otherwise in the contract.
In addition to the above you may wish to conduct a satisfactory:
Building Report
Pest Infestation Report
Soil Report
Electrical Report
Plumbing Report
Survey Report
Most clients would prefer to know that their offer has been accepted before they invest the money in a report. Therefore we can assist you by drafting a special condition that allows you time to carry out the report once the Vendor has accepted your offer.
The above information is to be used as a guide only. It over simplifies the conveyancer and bank requirements but it does show the distinct responsibilities of all parties. Remember – all documents sent to you by the conveyancer or bank are important documents. They need to be signed, witnessed and returned immediately. Any delays may have an undue effect on settlement date.
Our Fee Structure
Thank you for the opportunity to provide you with information regarding our fees and services.
At Direct Mobile Conveyancing we will provide you with a FIXED QUOTE for your conveyancing at the start of your transaction. Our fixed quotes are based on the standard conveyance and will include our service fee and GST. Disbursements will be charged as applicable to your transaction.
In most circumstances we will be able to read the Section 32 and Contract of Sale within 24 hours.
We will assist you wherever possible to achieve this result.
(We offer a same day service if the matter is urgent.*)
For peace of mind
We are a Member of the Victorian Conveyancers' Association.
