Buying a home will probably be the most expensive thing you ever do, so it's important you know as much about the process as you can. It is important your legal advisor has up-to-date knowledge, treats your conveyance as a priority and never assumes anything.

Once you have found the right property and you have decided you would like Maccallum Lawyers Conveyancing Service to act for you, you should advise the agent. We will then obtain a copy of the Contract and make arrangements to see you so we can explain the Contract to you. It is a good idea to obtain pest, building and/or strata inspection reports. We can make arrangements for these reports to be carried out for you. We will also discuss with you whether you want to take out title insurance.

The agent may encourage you to sign the Contract with a 5 day "Cooling Off" period.  This means that the vendor cannot sell the property to anyone else and you have until the 5th business day to carry out any reports and obtain finance.  However, if you change your mind and rescind the Contract you will forfeit 0.25% of the purchase price to the vendor. Sometimes the vendor may request that the "Cooling Off" period be waived. In order to waive the "Cooling Off" period your conveyancer or solicitor must provide a section 66W Certificate.

If you purchase your property at auction there is no "Cooling Off" period so you should arrange for the Contract to be reviewed by us and for a pest, building and/or strata report to be carried out BEFORE the date of the auction. You should also ensure that you have approved finance before bidding at an auction. If you are the successful bidder you will need to pay a 10% deposit and exchange Contracts immediately at the auction.  Vendors may sometimes agree to a reduced deposit or a deposit bond instead of the full 10% deposit, but this should be negotiated beforehand.

Please bear in mind that pest, building and strata inspection reports can be quite expensive and until exchange takes place there is no legal agreement. This means you could be paying money for reports on a property that you do not end up purchasing, especially if you are bidding at an auction and you are not the successful bidder.

After Contracts have exchanged, depending on what the Contract says, you will usually have 6 weeks in which to complete your purchase. 

For more information, please contact Leanne Maccallum or see the Department of Fair Trading website.

Selling your home can be a stressful experience and costly if your legal advisor does not properly understand your property and what you want to achieve.

Should you decide to appoint Maccallum Lawyers Conveyancing Service as your legal advisor, prior to marketing your property, you should contact us to prepare a marketing Contract.

It is illegal to market a property without a properly prepared Contract.

If you decide to list your property through a Real Estate Agent, it is essential you choose an agent you are comfortable with and have confidence in.

To prepare your contract we will need a few details about your property. You can come in and see us or we can send you a list of questions to complete and return. It is a good idea to have your council rate notice handy.

Once a buyer is found and all parties are ready, Contracts are exchanged.  Most Contracts allow for completion in 6 weeks, however this can be negotiated if necessary.

For more information, contact Leanne Maccallum or see the Department of Fair Trading website.