- Kelly Conveyancing
The Sales Process
- Must be prepared before any advertising.
- Must contain certain documents, which we will arrange for you.
Exchange of Contracts:
- The time when both parties are bound by the terms of the contract.
Cooling Off Period:
- The purchaser may have a 5 day period in which to cool off (withdraw from the contract)
- The purchaser forfeits to the vendor 0.25% of the sale price if the cool off is invoked
- The vendor does not have a cooling off period
- There is no cool off in a sale at auction
You need to know as much as possible about the property you are going to buy. Sandra Kelly Conveyancing can advise you on any appropriate reports, such as:
- Significant building defects
- Safety hazards
- General condition of the property
- An overall report on major problems visible only to a trained eye
- Presence of termite or timber destroying pests
- Location of any easements
- Fencing irregularities or encroachments
Other Inspections and Reports:
There may be other inspections that can be arranged, they may need to be done by experts in their field. You should discuss this with Sandra Kelly Conveyancing.
What is Settlement?
- This is the day your purchase is finalised.
- You become the proud new owner.
What Do I Need to Do?
- Sandra Kelly Conveyancing will need to collect from you, or make arrangements for, your final payment.
- Conduct a final inspection of the property.
- You should have made arrangements for moving, if you are moving in.
- Arrange transfer or connection of services, electricity, telephone, gas etc.
- Confirm the time of settlement with your CPC, you cannot move until settlement is completed.
- Have mail re-directed.
What Is a CPC?
- A CPC is an accredited member of the Australian Institute of Conveyancers NSW.
- Only handles property transactions and has a comprehensive knowledge and experience that comes with dealing in this one aspect of law.
- Carries Professional Indemnity Insurance for your protection.
- Must comply with the high standards set by the Australian Institute of Conveyancers NSW Division and have the full backing of the Institute and its resources.
- You can instruct a CPC to handle your property transaction knowing that it will be done by a professional conveyancer.
Joint Tenants or Tenants in Common
When there is more than one person buying a property the title can be held in one of two ways.
Joint Tenants, means that each person owns the property jointly and on the death of one of them the property automatically passes to the remaining joint tenant or tenants. There can be more than two persons holding the property in this manner.
Tenants in Common, means that each person owns a share in the property and on the death of one party that share passes to whoever inherits their estate. The property can be held in equal shares or in whatever shares the owners wish to hold title. There can be two or more persons holding the property in this manner.