Purchasing

The process involved in purchasing a property

There are many factors in buying a property.

Our firm can recommend you to a finance broker to discuss any of your concerns or requirements regarding taking out a loan or refinancing your mortgage.

When purchasing a property it is important to have your contract looked over and have it explained just exactly what you are purchasing to protect you and your investment. We can give you a full contract review over the phone or in writing at your request.

We check the Vendors Statement Section 32 and Contract thoroughly and;

As soon as the contract is made, the buyer should lodge a caveat on the seller's title at the Land Registry in order to prevent any other person claiming the land and to give notice to the world of the buyer's interest in the land.

As soon as we have received your pre-purchase information request form we will contact you to arrange for the prompt checking of your documents. In most cases the matter is completed within 24 hours, and often on the same day.

You are entitled to immediate telephone or email support to clarify any issues raised in our report.

Buying Off the Plan

When buying off the plan there are benefits and risks associated with this type of purchase. It is important to know and trust the developer that you are dealing with, so you need to ensure you have done your homework and by checking with builders licensing authorities to see if any complaints may have been lodged against the property.

Carefully inspect any display homes, models and plans of the property you intend to purchase. Investigate the details, the fixtures, fittings and finishes.

If the developer goes under before the property is finished you may be left with nothing to show for it and out of pocket thousands for the loss of your deposit, legal fees and any other associated costs.

You can request to see the developer's balance sheet to determine their financial strength if you are at all concerned.

10% deposit is required upon signing the contract and is held in a legislated trust about for safety and bears interest usually divided equally between purchaser and vendor on completion. Stamp Duty applies within 3 months of signing the contract and the balance of the purchase monies are payable on completion, giving you ample time to get your financial house in order.

"Off The Plan Contracts" are quite complex with all the clauses that are in them, so it is important you understand what it is you are buying into and that were we can help.

Buying at Auction

In Melbourne many people buy at auction, which means the contract is unconditional when the hammer falls, you have to bring the deposit to the auction and you can't make the contract conditional so it is important that you have the contract looked over to protect yourself. As a bidder, set a maximum price and do not bid above this. If there is more than one buyer everyone would need to attend the auction or provide a power of attorney to given. There are many other factors to look at when buying at Auction and our staff are more than happy to answer any questions you have.

Our Pledge

At Cottier Stenning we strive to make the legal process as straight forward and stress free as possible.

Philip Cottier is a solicitor with over 30 years experience in general practice and practices in the key areas of suburban practice- conveyancing and commercial law, estates and wills, family law, consumer law, compensation law and crime. He puts the client first and works hard on their behalf to achieve excellent results

Free Consultation

Call 03 8765 2347 now for a free, no obligation interview to discuss your requirements.

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Our Approach

We provide easy to understand advice and efficient service with reasonable fees. And we undertake to keep you up to date with what is happening with your matter on a regular basis.

Philip will look at most areas of common legal work and undertakes to keep you in touch with regular reports on your file, and client based solutions- practical, easy to implement and understand.

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