Buying Residential Property
Purchasing a home is one of the biggest financial decision most people will make in their lifetime. That’s why it’s so important to know your legal rights. Whether it’s for your very own home or investment nest, the team at Page Conveyancing can help guide you through the purchase with our knowledgeable advice, friendly service and experience in the transaction process. We know the process of buying a property can be quite stressful at times it can be completely overwhelming. That’s why seeking the help of a licensed conveyancer is so important. Our combined team of conveyancers ensure you’re supported throughout the entire property purchase process, from the necessary paperwork, applying for government grants to your crucial property inspections.
“It is important prior to signing the contract you are made aware of any matters which may adversely affect the land. When purchasing you are legally entitled to assume that you have been given all relevant information about the property and that the vendor has provided it with a warranty that all adverse matters have been disclosed”
Subject to your instructions and carrying out all necessary searches to protect your interests, it is a prime objective of Page Conveyancing to exchange contracts as time effective and efficiently as possible to secure the property for you. We then proceed to carry out rates and land tax searches along with obtaining any other information that may be required by your lending body. Stamping your contract would then be attended to along with the creation of an Electronic Notice of Sale. Payment of stamp duty on the contract would be factored into your settlement statement which is forwarded to you approx. one week from settlement.
Prior to settlement we would reach an agreement with the vendors on any adjustments to the purchase price. The vendors would then advise us as to how they require the settlement funds to be disbursed and we will ask you (and/or your mortgagee if applicable) for these amounts. If you have obtained finance from a lender you can authorise them to draw any shortfall (difference between your mortgage amount and amount owing on the property) from your account on settlement. This saves you having to transfer funds to our Trust Account prior to settlement. We will monitor settlement on your behalf, disbursing the balance of purchase funds, transferring the documents and collecting Title Deeds, which we (or your mortgagee) would then have registered at the land titles office through the PEXA platform. With electronic settlements, the Land Titles Office receives all documents immediately upon settlement and registers them accordingly.
A new Title Deed would then be issued in approximately two weeks, noting yourself as the new owner of the property. The deed would be returned to you or if you have a mortgage, will be kept by your mortgagee in an electronic format as security against the loan until it is repaid in full. We will also notify council, strata and any other governing bodies of the change of ownership.
Guide to the conveyancing process
What we do for you – Purchasing
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