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The following list is what is included in a 'standard conveyance' for a sale:
1. An executed Contract of Sale is received by Spot On Conveyancing;
2. As noted in the Contract a due date will be calculated and the Seller will be advised of this via initial letter;
3. An Authority to Act form will be sent to the Seller by Spot On Conveyancing, which will need to be returned as soon as possible along with, a notice of land rates, water rates and if applicable, body corporate fees;
4. Spot On Conveyancing will conduct and review a title search;
5. It is the responsibility of the Seller to contact the bank if there is a mortgage on the Property, and sign a Discharge form, noting that Spot on Conveyancing will act as the Seller’s conveyancer;
6. Spot On Conveyancing will provide the Seller with transfer documents to be executed in the presence of a Justice of the Peace, solicitor or commissioner for declaration, these original signed documents must be returned to Spot On Conveyancing, please note transfer documents can also be executed at our office if need be;
7. The settlement will be booked in with your financier by Spot On Conveyancing;
8. The draft settlement statement will be provided to the Seller by Spot On Conveyancing once an agreement is reached between the Buyer and Seller and all searches are compiled, along with an invoice from Spot On Conveyancing for services rendered for your perusal and agreement;
9. On the settlement date the Seller must be available via phone or email;
10. Attend settlement;
11. Once settlement has been effected Spot On Conveyancing will advise the Seller, and if applicable, the real estate agent as noted in the Contract;
12. A final letter will be provided to the Seller by Spot On Conveyancing and the file will then be closed.
The following list is what is included in a 'standard conveyance' for a purchase:
1. An executed Contract of Sale will be received by Spot On Conveyancing;
2. An Authority to Act form will be sent to the Buyer by Spot On Conveyancing, which will then need to be returned as soon as possible, so that Spot On Conveyancing may order required searches;
3. As noted in the Contract a due dates will be calculated and the Buyer will be advised of this via initial letter;
4. Spot On Conveyancing will conduct and review a title search;
5. Based on your instructions, Spot On Conveyancing will calculate the amount of stamp duty owing;
6. Spot On Conveyancing will provide the Buyer with copies of the results of a land tax and plan search;
7. The Buyer will receive a full Buyer’s letter, which includes the steps in the conveyancing process, along with search reports, a Buyer’s questionnaire, a Buyer’s booklet and any additional supporting documentation;
8. It is the Buyer’s responsibility to notify Spot On Conveyancing, via email, of any conditions due under Contract before 4.30pm on the due date;
9. Transfer documents will be prepared by Spot On Conveyancing, which will be provided to the Seller’s solicitor for execution;
10. The Buyer must notify and authorise the bank, if applicable, that Spot On Conveyancing will be acting on the Buyer’s behalf. Additionally, please arrange a shortfall account with the bank, to be accessed by the Buyer, for any extra monies that may be required; on settlement date by the buyers;
11. Spot On Conveyancing will liaise with the Buyer’s bank in relation to any requirements the bank may have;
12. Once an agreement is reached between the Buyer and Seller, and all searches have been finalised, Spot On Conveyancing will provide the Buyer with the Draft Settlement Statement, along with an invoice from Spot On Conveyancing for services rendered for your perusal and agreement;
13. On the settlement date the Buyer must be available via phone or email;
14. On the settlement date Spot On Conveyancing will, on the Buyer’s behalf:
(i) Execute transfer documents;
(ii) Conduct the final title search and review it;
(iii) Stamp the Contract of sale and transfer;
(iv) Send cheque directions to the Buyer’s financier, if applicable;
(v) Attend settlement.
15. Once settlement has been effected Spot On Conveyancing will advise the Buyer, and if applicable the real estate agent as noted in the Contract;
16. If relevant, Spot On Conveyancing will advise the body corporate of the change in ownership;
17. A final letter will be sent to the Buyer and the file will then be closed.
The quotation of a fixed price by Spot On Conveyancing implies the following:
1. The proceedings will be a ‘standard conveyance’ as outlined above. If Spot On Conveyancing are required to perform any work outside the scope of a standard conveyance, then an additional fee or legal advice fee may be charged to the client for each item of additional work performed.
2. Under the Contract the real estate agent will act as the deposit holder. If under Contract Spot On Conveyancing are required to act as the deposit holder, there may be an extra fee of $100.00 plus GST.
3. The Property being purchased is a residence or piece of vacant land that is not located in a body corporate or community management scheme, such as a unit or a townhouse. However, if that is the case, then Spot On Conveyancing recommends that a comprehensive full body corporate search is obtained regarding the Property. This service is provided at cost price, as defined by the following:
a. A search agent is used by Spot On Conveyancing to effect all searches. The search agents then invoice Spot On Conveyancing for their services rendered. If indeed searches are performed, this is the cost incurred to the Client, without any mark-up or handling fee from Spot On Conveyancing. The Client will pay exactly what the searches cost.
4. The purchase price under the Contract will not be required to be renegotiated by Spot On Conveyancing; If a renegotiation of the purchase price under the Contract is required, Spot On Conveyancing reserves the right to charge an additional fee to the Buyer;
5. The Seller of a Property is an individual or are individuals. If the Seller is a company then Spot On Conveyancing strongly recommends that the Client carry out an ASIC current company extract search, and a Personal Property Security Register Request, otherwise known as a PPSR Search to determine:
a. The identities of the director or directors of the company; and
b. If there are any charges that may need to be released at settlement that may affect the transaction of the Property.
In the event of the purchase of a Property, if funds are coming from a financial institution, then Spot On Conveyancing assumes that:
1. If the Contract is subject to the Buyer obtaining finance by a due date (Finance Date), then approval must be obtained by the Finance Date. If any extensions to the Finance Date are required, the Buyer must advise Spot On Conveyancing by 4.30pm on the due date;
2. The Buyer will do all that is required by the financial institution, such as completing documents and returning them to the financial institution or the broker, in a prompt and timely manner, thus enabling settlement to take place on the scheduled date, as noted in the Contract;
3. When Spot On Conveyancing telephones the Buyer’s financial institution to schedule the settlement, the financial institution will have received all documents and required information from the Buyer in order for a settlement time to be booked.
In the event of a Property purchase, if the purchase is subject to a pest and building inspection by a due date, the Pest and Building Date, then Spot On Conveyancing assumes that:
1. The Buyer will communicate to Spot On Conveyancing satisfaction of the pest and building inspections by the Pest and Building Date. If an extensions of the Pest and Building Date are required, an additional fee may be charged to the Buyer from Spot On Conveyancing;
In the event of a Property purchase, if the Property has a swimming pool and a Compliance or Exemption Certificate is not provided to the Buyer at the time of entering into the Contract, thus making the Contract subject to an inspection of the swimming pool to be carried out by a Pool Safety Inspector by the Pool Safety Inspection Date, then Spot On Conveyancing assumes that:
1. The Buyer will, by the pool safety inspection date, confirm to Spot On Conveyancing, that the Buyer is satisfied with the results of the inspection of the swimming pool.
In the event of the sale of a Property, if the Property is under mortgage, then Spot On Conveyancing assumes that:
1. The Seller will promptly contact the mortgagee immediately after entering into the Contract. This will be to inform the mortgagee of the intended sale and that the Seller will have done everything required by the mortgagee by the settlement date, such as executing documents and returning them to the financier or the broker, in a prompt and timely manner. This action ensures that settlement will take place on the scheduled date as noted in the Contract.
2. When the financial institution is telephoned to schedule the settlement, not earlier than 7 days before the settlement date under the Contract, that the financier will have received all required documentation and any information from the Seller, thus allowing the booking of the settlement. If the financier is unable to schedule the settlement, on account of lack of documentation or information from the Seller, and subsequently Spot On Conveyancing is required to make additional telephone calls to the financier to schedule settlement, then the Seller may be required to pay an additional fee to Spot On Conveyancing.
In the event of a Property purchase, in relation to a settlement notice, Spot On Conveyancing implies that:
1. The Buyer or the Buyer’s financier will not require a settlement notice to be lodged in relation to the Property. If the Buyer or the Buyer’s financier does require Spot On Conveyancing to lodge a settlement notice in relation to the Property, then Spot On Conveyancing reserves the right to levy an additional fee from the Buyer.
In relation of non-standard or unusual special conditions, Spot On Conveyancing assumes that:
1. The Contract does not contain any non-standard or unusual special conditions, thus requiring Spot On Conveyancing to carry out and provide any unusual work in the conveyance.
2. If the Contract does contain any non-standard or unusual special conditions, Spot On Conveyancing will notify the Client as soon as Spot On Conveyancing becomes aware of such. Along with the notification, the Client will be provided with an estimate of any additional fees that may be levied by Spot On Conveyancing.
In the event of a Property sale or purchase, in relation to encumbrances on the title of the Property, Spot On Conveyancing assumes that:
1. There are no encumbrances on the title for the Property. If encumbrances on the title for the Property are found, then Spot On Conveyancing we will recommend to the Client instruct Spot on Conveyancing to obtain images of any registered encumbrances.
2. If, in the event that Spot On Conveyancing is instructed to obtain images of any registered encumbrances, Spot On Conveyancing will use the services of a search agent to obtain these images. The associated costs invoiced to Spot On Conveyancing in obtaining these images by the search agents is the cost that the Client will incur. There is no mark-up or handling fee added by Spot On Conveyancing.
3. If, upon request the Client requires legal advice in relation to the encumbrances, Spot On Conveyancing will provide a separate quotation for the legal advice.
In the event of standard conveyance for a Property sale or purchase, on the Buyer’s or Seller’s behalf Spot On Conveyancing will need to liaise with the following parties:
1. You, the Buyer or Seller;
2. The real estate agent;
3. The solicitor or conveyancer acting for the other party, provided that the other party is represented by a single firm; and
4. The financier and/or broker.
If Spot On Conveyancing are required to correspond or liaise with any other person or entity than the aforementioned parties, then the Client may be required to pay an additional fee.
In the event of a standard conveyance for the sale or purchase of a Property, in relation to the settlement, Spot On Conveyancing presupposes that:
1. Settlement will occurred on the settlement date and that the settlement will be effected in Brisbane (CBD);
2. The services of a settlement agent will be engaged at the town or place for settlement;
3. Settlement agents charge Spot On Conveyancing $40.70 to act as an agent at settlement. The cost invoiced to Spot On Conveyancing by the settlement agent, is the total cost that the Client will incur. This cost comes to the Client without any mark-up or additional handling fee by Spot On Conveyancing;
4. If settlement does not take place on the settlement date or at the time nominated for settlement, the Spot On Conveyancing reserves the right to levy an additional fee from the Client.
Additional fee, as aforementioned means an amount not exceeding $30.00 plus GST for reasons such as:
1. Per extension request; or
2. For each instance that the Buyer’s or Seller’s financier is not being able to schedule the settlement, due to unfulfilled outstanding requirements. Resulting in Spot On Conveyancing being required to contact the financier again to book in settlement; or
3. In the event of a renegotiation for any reason, per correspondence to or from the Buyer, Seller or additional party such, but not limited to, the agent, conveyancer or solicitor; or
4. Per correspondence or communication, either to or from, in relation to liaising with non-standard parties; or
5. Per communication or correspondence outside of the scope of a Standard Conveyance, as outlined above; or
6. Per additional attendance, if Spot On Conveyancing is required to attend at settlement and settlement is not effected requiring re-attendance at a later date or time.
In the event of the Termination of a Contract:
For various reasons some Contracts do not reach to settlement. Termination must be submitted in writing via letter or email and will take effect 24 hours after the instruction is received. At the point of the termination of a Contract one of the experienced Property solicitors at Spot On Conveyancing will notify the Client of their rights, obligations and possible options. It is the responsibility of the Client to make decisions regarding the termination after notification of rights and obligations. The Client is in control of the outcome.
The quotation of a fixed price by Spot On Conveyancing does not include:
1. Off-The-Plan Contracts; and
2. Contracts which are not in the REIQ or ADL Forms format of Contract
A Tailored Form Contracts contain non-standard provisions. If the Contract is an Off-The-Plan or another Tailored Form Contract please contact Spot On Conveyancing for an inclusive and fast quote.
3. That the searches conducted in the Fixed Price Quote ensure that the Client’s rights and interest in relation to the Property are fully protected.
a. In addition to the standard searches, Spot On Conveyancing strongly recommend that the Client carry out certain other searches, which can be outlined, to ensure that you, the Client are fully informed about the Property being purchasing.
4. Additional searches may include, but are not limited to:
a. A full Local Authority search will provide the Client with additional information, rather than the usual outstanding land rates or water rates owing on the Property.
b. A search with Energex will inform the Client if there is an electricity connection to the Property;
c. A search with Powerlink Queensland will inform the Client if Powerlink have any interests in the Property;
d. A Contaminated Land search will inform the Client if the Property has been listed on the Contaminated Land Register or the Environmental Management Register;
e. A search with the Department of Main Roads will inform the Client if there are plans regarding the Property or areas surrounding the Property;
A full Local Authority search will also provide the Client with information such as:
i. Whether or not the Property is flood affected;
ii. Whether there are any vegetation protections orders on the Property;
iii. Whether there are any outstanding plumbing approvals, a full search can provide plumbing and drainage plans to the Property, and other important information concerning the Property in the area of plumbing;
f. A Building Records search will inform the Client what buildings or improvements erected on the Property have been approved;
g. An Inspection Dwelling search will inform the Client whether or not the council holds final inspection certificates in respect of the Property;
h. A Native Title search will inform the Client if the Property is subject to a claim under Native Title laws;
i. A Heritage Register search will inform the Client if the Property:
i. Is on the Heritage register; or
ii. If there are any heritage agreements affecting the Property; or
iii. If there are any prohibitions on use of the Property as a result of it being Heritage listed.
j. A Telco search will inform the Client where the major telecommunications network cables, including fibre-optics are located on or in the vicinity of the Property;
k. A Special Water Meter Reading search will provide the Client with an up-to-date reading of the water meter usage for settlement adjustment purposes.
5. Upon request, Spot On Conveyancing will provide the Client with the approximate costs of these additional searches. A search agent is used by Spot On Conveyancing for any searches. These costs are the exact costs that the Client will incur, without any mark-up or handling fee added by Spot On Conveyancing.
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