Buying a Property
Buying a Property
Buying a property involves navigating a significant financial transaction. Prospective buyers explore options, negotiate terms, and complete legal processes. The culmination is ownership, marking the beginning of a new chapter.
We can assist builders with the following types of disputes
“Buying a property is a pivotal venture, demanding meticulous exploration of options, negotiations, and legal processes. With each step, anticipation grows. The journey culminates in ownership—a significant milestone and the dawn of a new chapter in the buyer’s life, as aspirations and dreams align with the tangible reality of possessing a valuable asset.”
- Purchasing a property often represents one of the most significant investments you’ll make.
- Our specialised lawyers at Greenline Legal are here to offer expert advice and recommendations, providing the assurance and peace of mind you need to confidently make the right decision.
- A vital aspect of any property purchase is the contract for sale, which every real estate agent must have readily available for all potential buyers of a residential property advertised for sale. This contract contains critical information such as details of the seller and agent, the full property address, the nature of improvements made to the property and any inclusions that form part of the sale.
- This comprehensive information allows you, the buyer, and your lawyer to review all aspects concerning the property and the terms of the sale. The contract must also include specific legally mandated documents.
- To streamline your property purchasing process, we suggest securing formal finance approval before initiating your property search. This proactive approach will place you in an optimal position to purchase when the perfect property comes along.
Our Process
1. Find Your Property
Once you have found your property, finance approved and wish to purchase you must obtain a copy of the contract for sale. Once instructed we will review the contract for sale and advise on the terms to ensure you understand what’s in the contract. Here at Greenline Legal, we will also facilitate inspections including pest, building, survey and strata reports as required.
2. Meet With Us in Person or Over the Phone
Identical copies of the contracts are signed and dated by you and the seller and physically exchanged. You will pay the 10% deposit or balance of the holding deposit already paid to the agent if applicable. It is at this time that the contract becomes binding.
3. Exchange the Contract
It’s important to promptly secure property insurance, as the insurance risk transfers to you once the settlement occur. Additionally, ensure that you complete your mortgage documents and return them to your financier in a timely manner. It is also necessary to provide us with proof of identity for each purchaser and a cheque for stamp duty. Make sure to arrange the collection of keys and schedule your final property inspection shortly before settlement. Don’t forget to manage your utility connections as well. These include electricity, internet, and phone services. By taking these steps, you can help ensure a smooth transition and avoid any unnecessary complications during your property purchase process.
4. Preparing for Settlement
After you have completed your final inspection of the property, immediately advise us should you have any concerns. During settlement we will give to the seller’s representatives bank cheque/s for the purchase price in exchange for the Certificate of Title, Transfer document and a Discharge of Mortgage (if applicable). Ensure you can be contacted easily for any last minute questions we may have and wait for us to contact you to confirm that settlement has occurred.
5. Settlement
Review our final letter of advice and confirmation of settlement. If you borrowed funds to purchase, your financier will lodge the transfer documents with the land titles office, otherwise we will do this on your behalf. We will notify relevant organisations (such as the Council) that you are the new owner of the property.
Proud Partners of One Law
Delivering comprehensive legal services, our company is dedicated to providing expert guidance and solutions tailored to meet the unique needs of our clients.
