firstly this snippet from http://www.consumer.tas.gov.au/tenancy__and__real_estates/buying_a_house/who_to_contact
“Solicitors
When you have negotiated on price you should take the contract to your solicitor before signing. People often see their solicitor after they have signed the contract. This may well be too late. It is usually impossible to change the terms of the contract after you have signed. You cannot expect to be an instant expert in contract law, so why not use the services of someone who is. If you do not currently have a solicitor you are best served by asking for details of solicitors available in your area and who specialise in conveyancing through the Law Society.
A solicitor will provide general legal advice on the contract conditions and advise of legal consequences of signing the contract. It is advisable but not essential to use a solicitor to do your conveyancing.
Because it is a legal process it is generally seen as safer to engage a professional conveyancing solicitor. The conveyancing process involves the legal transfer of property title from the previous owner to the new owner. A solicitor is also covered by professional indemnity insurance which will protect you against any loss caused by your solicitor’s negligence.
The legal profession has become competitive for conveyancing business. It is possible to negotiate a lower fee by asking for quotes from legal firms.”
Now, my girlfriend who is a PA to a Manager at a real estate company here in Tassie says that to negotiate on price is a matter of putting your price and conditions on the contract and then signing it. Seems a bit late if the folio has conflicting or missing information.
Has anyone else bought property in Tassie? What was the process of negotiating a price? How do I offer a particular price in writing without signing a contract? Or is it just a matter of asking the agent for a copy of the contract and showing it to the solicitors first, getting the appropriate conditions put on it and then taking it back with our price and signature to the agent? Is the only way to negotiate the price to make an offer on the contract?
Cheers Simon
this is for my first place of principal residence by the wayMore stuff on the voigtstr at http://users.bigpond.net.au/voigtstr
If you need your solicitor to look at the contract, wouldn’t you need to give them the contract?
If the agent is hesitant about giving you a blank contract to take away and its a standard REA contract, then you could go to your solicitor with any clauses or conditions that you or the vendor want to add!
We buy properties in Adelaide. No Agent Fees.
[email protected]
phone 0412 437 582thanks Dr X. I emailed the solicitors and they said 9/10 times people have already got the contract signed when they come to them for conveyaning. For 150$ she could do a title search and put the conditions we wanted on a standard REIT contract.
My partner can do the search for 40$, and has REIT contracts in her office to look at. So we will do what 9/10 people in tassie do and that is make the offer on the contract. The only thing left is to make sure the wording of our conditions are right.. We want subject to finance (which from memory is already on the REIT contract), subject to satisfactory builders inspection, and a sunset clause so they dont drag things out. Sound ok?
More stuff on the voigtstr at http://users.bigpond.net.au/voigtstr
voigtstr
When signing a contract ‘subject to finance’ I would suggest that you add the phrase – ‘of the purchasers choice’.
This is a safegard for you as you may end up with finance from anyone with rates and conditions you wouldn’t like – eg vendor finance.
re Pickworth’s post
I totally agree with his suggestion! (speaking from experience)
Cheers
DinahI believe REIT contract already have a finance clause on by default.
Can anyone remember the exact wording that Steve uses on his contracts for the sunset clause… something along the lines of This offer is valid untill (time)(date)..
I know I’ve read it somewhere and cant remember if it was in one of his books, in a forums post, or one of of his newsletters..
nevermind it was in his newsletter from 1/9/05
“This offer, unless earlier withdrawn, will lapse at (time) on (date).”
More stuff on the voigtstr at http://users.bigpond.net.au/voigtstr
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