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Successful investing requires expert guidance. We offer access to experienced professionals with proven track records.
We are proud to be conveyancing experts with many years of valuable experience in assisting people in purchasing their dream properties.
At City Link Conveyancing, we understand the importance of finding the perfect property, and we recognize how overwhelming the conveyancing process can be for many people.
Our team consists of highly skilled professionals who are passionate about providing you with a smooth and hassle-free process. We take a client-focused approach and work closely with you to understand your specific needs and goals with regards to your property purchase. Whether you are a first-time buyer or an experienced property investor, we have the expertise necessary to guide you through every step of the way.
Our extensive knowledge of the conveyancing process allows us to identify and manage any potential issues before they become major problems.
You can trust us completely to handle all your conveyancing needs and to ensure that your property purchase is a stress-free and enjoyable experience.
With our attention to detail and commitment to excellent service, you can be confident that your property purchase is in good hands with us at City Link Conveyancing.
Our commitment to you is unwavering, and we strive to exceed your expectations every time.
Our goal is to provide you with a stress-free and smooth conveyancing experience, allowing you to focus on the excitement of your new property.
So why wait? Contact us today to start your journey towards your dream property!
Get in touch with us today at City Link Conveyancing to see how we can help you achieve your property ownership goals.
In Victoria, offers for buying property are usually made by a purchaser signing a contract of sale.
What should be included in the special conditions? This can include things such as building and pest inspections, a specific settlement date or any repairs that need to be done before the property changes ownership.
The contract of sale outlines the terms and conditions of the purchase, including the purchase price and any special conditions that need to be met.
Can you make an offer with conditions? Yes, you can. It’s known as a conditional offer and can include conditions such as the sale of your current property or the approval of your finance.
Unless another timeframe is written in the contract, the vendor has 3 business days to accept your offer.
What happens if the vendor accepts the offer after the 3-day timeframe? The contract becomes binding, but you should speak to your solicitor or conveyancer to ensure that everything is in order.
If the vendor doesn’t accept your offer within this timeframe, your offer is considered rejected and you may need to negotiate further or look for another property.
What should you do if your offer is rejected? You may need to negotiate further with the vendor or start looking for another property.
If the vendor accepts your offer, they will co-sign sign the contract and then the property is sold and the contract is binding.
If you are borrowing money for your purchase, make sure that:
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What happens if the bank doesn’t approve your finance? You can terminate the contract, but you may lose some of your deposit. Make sure you speak to your solicitor or conveyancer before making any decisions.
Remember that once the contract is signed by both parties, you are legally bound by its terms, so make sure you understand everything before signing.
Do you have to use a solicitor or conveyancer? No, but it’s highly recommended. They will help you navigate the buying process and ensure that everything is done correctly.
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What happens if something goes wrong? If something goes wrong with the purchase, speak to your solicitor or conveyancer as soon as possible. They will be able to advise you on what steps to take next.
Auction sale contracts do not have a 3-day cooling off period and are not usually subject to any conditions such as finance or building & pest report clauses, so it’s important to have your finance pre-approval and do all of your property and contract checks before the auction takes place.
It’s important to keep in mind that once the hammer falls and the property is sold to the highest bidder, the sale is final and legally binding.
Another thing to consider when buying property in Victoria is if you want to request that the contract includes a building & pest report clause.
It is worth noting that building and pest reports are not always required in Victoria, but they are highly recommended by real estate agents and industry professionals.
These reports will give you a detailed report on the state of the property and can highlight issues such as building defects, rising damp, movement in walls, safety hazards, and pest infestations.
But:
Even if this report doesn’t identify a major defect or infestation in the property, they still provide you with a very clear picture of the state of the property and could create an opportunity to negotiate for repairs or treatments.
.If you are buying property and haven’t signed a contract yet, here are some other reports with links that you can use to get more information on the property you are interested in:
Another important report to consider is the building inspection report, which gives an assessment of the overall condition of the property and identifies any major defects that may affect its value or safety.
When buying property, the statement of adjustments is usually prepared by the purchasers conveyancer and sent to the sellers (vendors) conveyancer about a week before settlement.
It includes all of the financial charges on the land, such as the water & land rates, owners corporation fees, land tax & lease payments, and adjusts on these figures so that it works out perfectly fair for both parties at the day of settlement.
An example of this would be if you had just received and paid your yearly land rates bill, but then sold your house a few weeks later.
The financial charges that are included in the statement of adjustments vary depending on the property and the state or territory it is located in.
The statement of adjustments is a crucial document that ensures both the buyers and sellers are paying or receiving exactly what they owe or are owed at the time of settlement.
Without the statement of adjustments, one party may end up paying more or less than they should on settlement day.
The adjustments would reclaim the amount of money that is equal to proportion of time that you would not be the owner of the property for the year.
For example, if you sold your property halfway through the year, the council rates and water rates for the entire year would have been in your name even though you only owned the property for half that time.
It is important to review the statement of adjustments carefully and ask questions if anything is unclear or seems incorrect.
Buyers and sellers should make sure they understand every item on the statement of adjustments before signing off on it.
In this case you would get nearly all of the money back (11 months worth or 91%).
Having a professional conveyancer or lawyer to help you navigate the property transaction process can also ensure that you don’t miss important details on documents like the statement of adjustments.
In summary, the statement of adjustments is a fair and necessary part of property transactions that protects both parties involved.
In addition to preventing financial complications, the statement of adjustments can also provide a sense of transparency and clarity in the property sale.
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Overall, it’s important to understand the statement of adjustments and its significance in the settlement process to avoid any surprises or setbacks on settlement day.
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At our City Link, we understand that finding the right solutions for your needs can be a complex process. If you have additional questions or need to speak with one of our knowledgeable representatives, we are here to help.
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