Purchasing a home is one of the biggest investments you will even make. At AMC Lawyers our experienced team can take you through the conveyancing process and help you understand you legal obligations whilst protecting your rights. Our conveyancing team can help you with settlement and title transfer for all types of property located in NSW, VIC, QLD, SA, WA and ACT.
Each transaction is unique and we understand that property law can be complex. This is why we believe clear and regular communication with our clients is the key. At AMC Lawyers we treat our clients like family because that is what you become – part of the AMC family. We will be by your side throughout the entire process, putting your needs first and ensuring we get the best possible outcome for you.
Sometimes a vendor will supply a Pest & Building report when presenting the property for sale. While this will give you a good indication of the state of the property it is always wise to commission your own Pest & Building report. This is because you have no legal relationship with the vendor’s report writer. In the event of an issue with the property you will have no claim as you did not commission the report yourself. For these reasons it is advisable to always commission your own reports.
A Deposit Bond acts as a substitute for cash. It is particularly useful if you do not have immediate access to the required upfront deposit. They are popular for use at auctions. As a buyer you must obtain consent from the vendor and in some cases the real estate agent to be able to use a Deposit Bond.
An auction is a public bidding process where the fall of the hammer indicates the winning bidder. If you are the highest bidder at this time you are legally the owner of the property and must sign the contract on the spot and pay any deposit. There are no cooling off periods at an auction so you must have already done your due diligence including arranging finance, pest & building inspection and engaging a property lawyer/conveyancer. It is imperative you have your property lawyer/conveyancer explain the contract before bidding.
Buying off the plan means you your property does not yet exist and you are relying on the builder to delivery the property on time, as advertised and without defects. Because these properties can take several years before the final product is ready for occupation is it imperative that you engage a property lawyer who can carefully scrutinise the contract to ensure there are safeguards should anything go wrong.
There are many risks when purchasing property which may cause loss or affect your ownership of the property. For a one time fee Title Insurance offers protection to purchasers by guarding against loss incurred due to title and property related defects that generally are pre-existing but unknown at the time of purchase.
It covers risks such as:
Unapproved Building Work
Fraud, Forgery & Identity Theft
Boundary & Survey
Planning & Title Defects
Outstanding Rates, Taxes & Levies and
Unpaid Local Infrastructure or Local Improvement Levies
Our preferred title insurance company is Stewart Title