hi all,
i just have a quick question. i had one of my IP’s on the market, in which i have recently taken it off the market. anyway the solicitor has sent me a bill for 600 dollars for disbursements etc.
i have sent them an email asking why i am being charged but as yet, i havent had a reply. is this the norm?
i can understand paying part of the fee, but the whole lot?
any advice if this is right or not.
cheers
shaunLead, Follow or get out of the bloody way
hi all,
well i found the answer to my question, (after ringing melbear) anyway yes i have to pay. although the cost is a little high, the solicitor did write up a contract and even though i no longer need it, he still has a right to be paid for his work.
oh well another lesson learnt!
cheers all
shaunLead, Follow or get out of the bloody way
dunno Shawn, I have had 2 contracts fall over recently and have not paid a cent. Maybe you could put the point with the principal (as we did) and let them know that you will be using the services of a solicitor/conveyancor (?spelling?) MANY TIMES PER YEAR for all the IP’s you are buying.
If they want your business they should earn it. While you are at it ask for a reduced fee you all the business you are going to bring!
Matt
Hi there,
just a question – could you not keep a copy of this contract on file and turn it into a ‘Template”?It seems rather sill to me to have to pay over and over again for a contract where the only things I could imagine that would change are the address, the conditions and the Vendore/ Purchaser details (I live in WA and the REAs here do the Offer and Acceptance write up which becomes the “Contract” once the vendor accepts my offer).
Any thoughts?
Cheers
C@34
Had you ever thought because it is illegal – even in WA…
Hi,
A lawyer does more than just write up contracts to put through a property deal. They check on the property title to see if there are any mortgages that weren’t disclosed. They check for caveats and emcumbrances registered against the property. And they check for compliance with building codes and pest control. They check that the rates and taxes and water rates are paid up.
I don’t know if I would want to buy a property without all the checks and balances being carried out by a lawyer or conveyancing company. Look at the value that they add, that you are buying a property worth tens of thousands or hundreds of thousands of dollars and imagine the costs if things went wrong.
Christopher Raynal
Master Accountants Group Limited
PO Box 46018 Herne Bay
Auckland New Zealand
Ph +64 9 360 3259
Fax +64 9 360 2180
http://www.masteraccountants.co.nzthanks all, i was actually selling the property, not buying. anyway they finally replied to my email. here it is.
Dear Mr WalkerPaul Green of our office has asked that I reply to your e-mail regarding the account for your conveyancing work.
We were not aware that the property had been taken off the market. As is required by law to list a property for sale in NSW, we prepared a marketing contract and forwarded this to your real estate agent.
A marketing contract is a draft sale contract for the property. To prepare this we needed to do searches of the various government registers and annex those searches to the contract, for inspection by any potential buyer.
Our standard fee for preparing a marketing contract is $250.00 plus GST. Our standard bill for a full NSW conveyance is $950.00 plus GST and disbursements. There were a number of disbursements in your matter as we needed to obtain the disclosure searches for the contract. The disbursements came to $228.00. Now that they have been obtained they can be used if in the future you come to sell the property.
Please feel free to call either myself or Paul if you would like to discuss this further
i guess i will know better next time
cheers all
shaunLead, Follow or get out of the bloody way
tonyy21692 Posted – 08/10/2004 : 18:56:59
Had you ever thought because it is illegal – even in WA…Hi Tony, we use an Offer and Acceptance form in WA. You can buy this from any newsagent for $0.50. You are also permitted to fill it in yourself – free of charge! Once you get to the point where there is agreement between the Vendor and the Purchaser, then all searches are done by Settlement agents. Lawyers only come in to explain any legal questions the purchaser/vendor might have based on the clauses or the failure to comply to them; hence my question.
Thank you for the additional info masteraccountants. I didn’t realise that things are that different in the Eastern States to us. I will have to keep that in mind when I look east for IPs.[blush2]
Cheers
C@34
Hi Cal
No one is talking about an offer and acceptance here. To put a property on the market in NSW the vendor must have a contract.
And just like an offer and acceptance in WA, you can have a solicitor write one up, you can buy but there is a small problem when you want to COPY one and reuse it. It’s call copywrite law.
Best of Luck
PS Chris isn’t in the eastern states he is in the 7th state
Thanks for that correction! And it’s better to be referred to as the seventh state rather than the wannabe state!
The Australian Constitution is supposed to have allowed for the inclusion of New Zealand as another State. There is CER and some recent talk of becoming one currency and one economy. I suppose we will have to watch and see nature take its course.
Chris
http://www.masteraccountants.co.nzChristopher Raynal
Master Accountants Group Limited
PO Box 46018 Herne Bay
Auckland New Zealand
Ph +64 9 360 3259
Fax +64 9 360 2180
http://www.masteraccountants.co.nzWe paid a flat fee for our NSW house of $790 to our solicitor, we pay nothing more. We are about to take the house off the market in Sydney, replace carpets and jazz up the kitchen then put it back on the market. So far as I know you got stung. The fee only applies to a contract thats going through and I have been told that I get a refund if we take it off the market completely.
Maybe Im on a good deal but maybe you just got stung.
DD
Don’t sweat the small stuff,and it’s all small stuff!!
Hi DD,
I would make sure with your solicitor/conveyancer about those fee’s and also the rebate if your property doesnt sell.
I’m an agent and dad was a solicitor, Most solicitor’s would ask for upfront disbursements ie
ct, 149 cert, sewer diagram, dp etc.Just make sure, before you get stung.
joe
Joseph
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