• Making sure the contract protects your rights and interests and suits your needs;
• Providing the correct advice in relation to all matters under the Contract;
• Performing the necessary legal searches and advising of their outcome and performing any necessary action should it be required;
• Arranging for the payment of monies and proper legal registration of any docments not handled by your Bank;
• Informing the necessary authorities of the purchase and supplying them with the required information;
• Adjusting paid rates and body corporate levies and preparing final settlement statements; and
• Attending settlement on your behalf.

How do you use Step by Step Conveyancing Pty Ltd

All you need to do to have us act on your behalf is contact us, or have your agent send through the contract once it has been signed.   As soon as we receive your contract we will send you through a number of documents to inform you of your rights and obligations under the contract as well as formalise our engagement as your Conveyancers.    As your matter progresses we will contact you via your preferred method of contact to make sure that you are kept informed of the progress of your purchase.

Our clients include First Home Buyers, Pensioners, Families, Investors, Developers, Real Estate Agents, Financial/Mortgage Brokers, Accountants and Financial Advisors.

All conveyancing services are offered at cost effective fixed fee rates delivered by highly qualified and experienced Licensed Conveyancer, Elisa Western.

Contact us today on 9629 4800 to arrange a consultation.

Definitions

Purchaser – person buying the property

Vendor – person selling the property

Exchange – There are two contracts. One is signed by you and another by the Vendor. Contracts are then compared to ensure that they are identical, at which time they are then dated. The Vendor’s Licensed Conveyancer/Solicitor keeps the contract signed by you and we retain the one signed by the Vendor. This is when contracts are dated and become exchanged.

Cooling off period – normally contracts exchanged with a real estate agent will have a five (5) day cooling off period which gives you five (5) days to change your mind. If you have not done so during this cooling off period you should make sure you undertake all necessary pre-purchase inquiries such as building, pest and/or strata inspection reports. This is also the time that you should ensure that your loan becomes unconditional. Should you decide not to proceed with the purchase you must notify the Vendor and their Licensed Conveyancer/Solicitor in writing prior to the cooling off period expiring. The Vendor will retain 0.25% of the purchase price. Important: if you purchase a property at Auction, contracts are exchanged and there is no cooling off period. Similarly, if the property is passed in and you purchase the property after the Auction, but on the same day of the Auction, the Auction conditions still apply and there is no cooling off period.

Section 66W Certificate – the Vendor in many cases will request that the cooling off period be waived. If you agree to have this waived, your Licensed Conveyancer/Solicitor will be required to sign a Section 66W Certificate stating that they have explained to you that there is no cooling off period, and that contracts will be unconditional at exchange i.e. no changing your mind.

Unconditional loan approval – this means that your loan has been approved and is not subject to any conditions such as valuation. After you apply for a loan most financial institutions will initially provide you with pre-approval. Once you find your dream home the bank will then arrange to valuate the property. Subject to any other requirements, if the bank is happy with the valuation they will then approve the loan unconditionally.

Certificate of Title – is the document that shows who owns the property, whether there is any mortgage or other encumbrance etc. effecting the land.

Mortgagee – is the financial institution providing funds to you.

Mortgagor – you are the mortgagor. This means you are the person receiving funds in exchange for the financial institution obtaining an equitable interest in your property.

Rescind – means the contract is taken to have never existed. In this case you would be entitled to have the deposit returned to you.