Hi,
this post probably should be directed at the “help needed” group.[blush2] But I am hoping this forum might include some legal eagles willing to respond to my questions.[scholar]I am interested in developing some understanding of conveyancing, how to read a contract (the between the lines stuff), legal process etc. Are there any great books out there dealing with these types of issues. Are there any courses (not a law degree) anyone could recommend. Perhaps even newsletters??
Hoping for a response.
Regards,
HelenI believe that there are conveyancing kits that you can purchase so that you can ‘do it yourself’ but that’s the extent of my knowledge.
I find it much easier to pay someone to do that for me….
Cheers
MelHi Helen,
I suggest you are better off spending your time looking for property so that you can spot a deal when you see one – afterall this is where you will make your money.
At the end of the day a saving of less than $1000 is not a lot in the grand scheme of things. This is especially the case when a settlement mistake could cost thousands. For me I prefer to pay experts to do those tasks that require a constant awareness of changing rules, namely tax and conveyancing.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Try this, Helen. It is an online learning website, and has everything you could possibly need, I reckon, to check out conveyancing. You have 5 trial goes at using the site- time to start printing it off [biggrin]
http://www.lawportal.com.au/full_screen.asp
kay henry
Hi
thanks to those who responded.I would NEVER consider doing my own conveyancing — or handling any legal matter.[dunce2] All that is best left to the experts. But I felt that in order to be an effective investor I should understand the legal process. In the past when I have received a contract I have attempted to understand key points in terms of application and interpretation. But unless you have some sort of formal education, understanding is at best minimal. [eh]
In my view investing is more than just buying quality property. Its also ensuring that you protect your position to minimise negative consequences.[8] Hence my interest in furthering my understanding of the legal process. Also, I have found in the past that if you do ask your solicitor questions, the final account for conveyancing goes up exponentially!!!! In one case I paid $600 over and above the original quote just because I asked a few questions. [
!]So an understanding of contracts etc not only would save me time and money, but as noted earlier improve my overall investment expertise.
Thanks to those who have responded. Any further ideas would be welcome.[biggrin]
Regards
Helen[cap]
Hi Helen
Go for it love, You are absolutely spot on, don’t let those slack asses put you off furthering your knowledge.Hi Helen
Try reading ‘Clauses Made Simple’ by Robert Balanda.
Actually, I saw it advertised in the back of API magazine and just got my library to get it.
A handy reference guide. Good luck.Purse
Hi Purse,
thanks for the reply. I am aware of the book “Clauses Made Simple” by Robert Balanda. I felt this book was directed at the property industry. The blurb for the book states “an ideal reference source for those in the property industry. No business broker, agent or solicitor can afford to be without this resource”. I thought it might be too technical for my use. [blush2]Thanks for bringing it to my attention again. I will have another look at this publication.Regards,
Helen
HelenI,m like you Helen,
I needed to understand the process…so I did one on my own. Had one minor hiccup which resulted in a delayed settlement, but beyond that it was a painless process.
In fact the vendor also represented themselves, so it wasn,t that big a deal.
Basically, four persons (two bank representatives, a purchaser and a vendor)sat around a table and exchanged cheques, title deeds and transfer documents and once all parties were satisfied (5 mins) we all went our seperate ways.I understand things can go wrong, so would not tempt fate and do another one on my own, but doing one was a worthwhile experience.
KP
You can also request that you attend the settlement with your conveyancer/solicitor….
Cheers
MelHi all,
thanks for your replies. Its more than just understanding the conveyancing process — I really would like to get a handle on contracts — what they really mean[bulb]. I have bought a couple of properties off the plan and the contracts usually weigh a few kilos — really difficult to get through and remain sane.[blink] However, its best to wade through these documents — to prevent future problems or at least have an understanding of what the future might bring.[eh]So keep the information coming. Are there any legal firms out there producing newsletters on property. That would be one way of keeping up to date with all aspects of property not just contracts.[suave]
Regards,
Helen [biggrin]
!]
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