Selling Residential Property
Kathy asked us if we knew an experienced and proven agent to sell her house in St Lucia. She was so pleased with the sale price and the service from our referral that she bought them a bottle of champagne after the sale.
Kathy appreciated our feedback when the price negotiations were taking place and was happy to sign the contract when our contract review confirmed that there were no uncertain or unusual terms. It was good that she sent the Discharge Authority straight away to tell her bank to release the mortgage because the bank took just over two weeks to process it.
We confirmed that it wasn’t unusual that the buyer wanted two items attended to from the Building and Pest report and that they wanted a seven day extension for their Finance condition.
We talked through the settlement figures together when the contract was unconditional and Kathy had a good picture early on of how much she would end up with in her pocket at settlement.
We met with Kathy to formally identify her in the week before settlement. She was happy to settle through the PEXA electronic settlement portal and everything went smoothly on her settlement day. Once that step was completed the next step was to help both her and her partner George with their Wills.
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Buying Residential Property
Anna called Clearman Lawyers to ask how much a conveyance costs. I said that if she gave me some information about the property, including whether it was an apartment, a house, a country pub or a commercial warehouse for example, and also told me how she was funding the deal we could then talk about costs if that suited her.
She said she was buying a heavily renovated house in St Lucia and wanted to be sure that all council approvals were in place. It was the biggest purchase of her life and she wanted to make sure she got what she thought she was paying for. Anna was paying about $1,400,000, half in cash from an inheritance and would find a broker for the rest of the funds.
Because she was happy with our fee estimate, Anna emailed us the draft contract while we were talking. Based on her concerns for the renovations, we recommended a Due Diligence condition in addition to Building and Pest and Finance to check all council approvals / final inspection certificates were in place. The seller accepted Anna’s offer and we immediately carried out a search of the approvals position with Brisbane City Council.
Later that day Anna had a chat with our recommended broker and was surprised that the interest rate available was better than she could find herself. The seller agreed to a $935.00 Building and Pest adjustment because there were some cracked tiles on the roof.
Happily, the seller had done a good job on the renovations. All the final inspection certificates were in place and Anna knew when she came to sell one day that would be good for the property’s value.
Once finance was confirmed we confirmed Anna was happy for us to carry out the conveyancing searches to make sure the seller didn’t owe any money to council, the Office of State Revenue or Queensland Urban Utilities at settlement.
Clearman Lawyers helped Anna to make sure funds were in the right place at the right time in advance and that the electronic PEXA settlement went through smoothly.
Buying Vacant Residential Land
Chris and Patricia had been talking about building their own home in Cannon Hill for their growing family for more than six months. As Chris was driving to work one morning he saw three lots for sale right near their local shops. They called the agent that evening and then called Clearman Lawyers when the agent asked them to complete an Expression of Interest form and pay some money.
They then asked the agent to send through the draft contract so we could help them review it. We strongly recommended a soil test special condition to make sure they were in control of the process just in case engineering works were needed because of unstable soil.
Patricia was pleased with the choices that our recommended broker provided because they needed a flexible package to work well with their other investment properties.
Once the soil test came back we helped them with the negotiations with the seller to make sure everyone got a fair deal. 30 days later they were the owners of the land and were talking to an excellent builder recommended by our business network.
This page is not intended to provide legal advice and does not create a client-lawyer relationship. This post is provided for general information purposes and should not be relied upon as a substitute for legal advice. If you need help with legal advice for your particular situation, please contact our office (details below or on ‘Contact’ page) and we’ll be happy to assist you.