Purchasing a Property
When should I speak with a Conveyancer?
A Contract of Sale is a legally binding document and therefore, it would be prudent to engage a Conveyancer prior to signing. Atlas Conveyancing Services offer a free verbal Contract and Section 32 Statement review, prior to you signing these documents so we can ensure any conditions (ie Subject to finance) you require are included and you are aware of any restrictions disclosed in this Statement.
When should I arrange my finance?
Ideally, prior to you placing an offer and/or signing the Contract of Sale you should have made contact with your Banker/Broker so you are comfortable knowing how much you can borrow and what documentation is expected/required from the finance side.
Difference between Joint Proprietors and Tenants in Common?
If you are purchasing a property in two or more names, you need to decide whether you would like to hold the property as Joint Proprietors or Tenants in Common. Joint Proprietors, means on the death of either one of the owners, the deceased share will go into the surviving proprietors name, it will over ride what is stated in your Will.
Tenants in Common can be held in equally shares (50/50) or unequally shares (10/90, 30/70) and the deceased share will be distributed as per their Will.
When does Stamp Duty and Registration fees get paid?
Government Stamp Duty and registration fees are payable at the time of settlement.
Should I complete a Final Inspection?
You may be entitled to complete a final inspection within seven days leading up to settlement to ensure the property is in the same condition it was when you signed the Contract, bearing in mind fair wear and tear. At this time, you should also check with the Agent that they will have the keys for the property, so you can collect them after settlement has been effected.