Can anyone give advice. Am currently in the throes of purchasing an investment property and my conveyance solicitor is suggesting that, in a standard pro forma letter, that I instruct them to place a caveat on the property for my protection. costs $47 to titles office and their sol costs of $100. If I dont reply with in 7 days they WILL PROCEED with the caveat. I have never in any property dealings come across this requirement for what appears to be a straightforward conveyance. Any ideas[confused2]
This is probably aimed at preventing the onwers from selling to anyone else and/or increasing the loan. How long is settlment? It does seem to be unusual!
Terryw
Discover Home Loans
Parramatta
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