Conveyancing Lawyers Newcastle
Service You Can Trust
Purchasing or selling a property is an important life decision that can be a complicated process. At Bale Boshev Lawyers, we can provide quality conveyancing services In Newcastle that you can trust.
With offices in Hamilton, Belmont and East Maitland, we are proud to have provided our services for clients across Newcastle, the Central Coast and the Hunter Valley regions. Our Newcastle lawyers can provide you with professional and diligent legal advice to ensure your conveyancing process goes as smoothly as possible.
WHAT IS CONVEYANCING?
Conveyancing involves all the legal work required when preparing sales contracts, mortgages and other related documents. It is the legal process that must be followed when the titles of the property are transferred between the buyer and the seller.
What Can A Lawyer Do For Me?
- Examine contracts
- Arrange building & pest inspections.
- Examine strata inspection reports (if necessary)
- Arrange finance
- Exchange contract of sale
- Pay Deposit
- Arrange payment of stamp duties.
- Prepare & examine the mortgage agreement.
- Check if there are any other issues surrounding the property, such as swimming pool compliance documents, council & water rates, or planned developments by the government that was not disclosed in the contract.
For business sales, the contract can be more complicated as it may include transfers of an existing lease, inventory, equipment and employees if required. Our lawyers will provide you with detailed advice, oversee the entire conveyance process and make sure the details of the contract are correct.
While it is not legally required to have a lawyer, you might find that the conveyancing process can be complex and time-consuming. Your Newcastle lawyer will be able to take charge, making sure all regulations are followed and walk you through the conveyancing process step by step.
WHAT SHOULD YOU LOOK FOR IN A CONTRACT?
Your Newcastle lawyer will be able to provide a thorough review of your contract. However, there are a few main aspects that you can check for yourself. Every contract should include the agreed-upon price, proposed settlement date and also some special conditions. These conditions will require extra terms to be added to the contract and can include finance conditions and building and pest inspections.
A finance condition provides the buyer with a date when they must achieve finance approval by their mortgage lender. If the finance is approved by the date, the conveyance process proceeds, but if the finance is rejected, then the buyer is able to terminate the purchase and receive a refund on their deposit.
Another typical condition is the building and pest inspection, which will have a licensed builder inspect the property for damages and defects. If the buyer is not satisfied with the results of the inspection, the purchase can be terminated, or the purchase price can be renegotiated. Your lawyer will be able to assist you in ensuring all conditions of the contract are in your best interests.
Don’t make your conveyancing process harder than it has to be. Let the team from Bale Boshev Lawyers look after you.
FAQ
The standard terms that you should look for in a conveyancing contract include the purchase price, proposed settlement date and contract conditions. These conditions can involve finances and building and pest inspections.
Settlement means transferring of the title to a property in exchange for the purchase price. A date is agreed upon by both parties, and on that day, the sale/purchase process is finalised.
You are not legally required to have a conveyancing lawyer; however they can make your purchasing/selling process a lot easier. Your lawyer’s job is to review all contracts, making sure you fully understand technical terms and identify any issues.
Stamp duty is paid by the buyer within 30 days of settlement. It is a tax that is required when ownership of a property is transferred to someone else. The amount varies by state and is based on the purchase price.
While it is legal for the buyer and seller to use the same conveyancing lawyer, it is not recommended. This is because the lawyer must deal with a conflict of interest, which may result in a poor experience for you.