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Tips, FAQs and pearls of wisdom from 20 years of legal experience. Be empowered to buy, sell and transfer property with confidence.
Aside from the rest of the purchase price, there are other things that must be paid for by the purchaser on settlement day.
One of the most important decisions for a property purchaser to make is when the settlement date should be. The goal is to ensure that the purchaser will be able to pay the remaining funds owing to the vendor on the settlement date.
A caveat is a legal notice, registered on the title of a property, declaring that someone has a legal interest in the property.
There are various ways a buyer can possibly terminate a contract before settlement occurs.
There are many legal loopholes that favour vendors; land tax is one of them.
Sometimes unusual access to a property is required before or after settlement, or in other circumstances. This occurs via a licence agreement.
There are two ways multiple people can own a property in Victoria: as joint tenants or as tenants in common.
The purchaser of a property doesn't have to actually own it. They can "nominate" someone else to be the owner on the title.
Settlement is the conclusion of a property conveyancing transaction.
An important aspect of buying a unit or townhouse is understanding how the owners corporation (body corporate) operates, and what information about it must be included in the vendor statement/section 32.
What do purchasers and vendors need to know about Section 27 Deposit Release Statements?
What are the risks involved with quickly signing a contract to buy a property?