Getting advice from a property lawyer can make a difference when purchasing your first home.
Buying a home can be intimidating. You need to determine what you can borrow, factor in added upfront costs, and check if you are eligible for grants or concessions. All this before you even begin your search! Then you find your dream home and probably don’t want to damage it. So before you put in an offer or sign the contract of sale, you need to do your due diligence to protect yourself legally.
Using a property lawyer for your home purchase
keeping your best interests in mind.
Legal advice during the property settlement period
Without a doubt, the sale period is a crucial part of a property purchase. During this time, you sign the contract of sale and finalise your bank loan. Engaging a property lawyer can be of huge assistance to help you understand the legal jargon to avoid unfavourable contract terms. Moreover, your property lawyer can advise you on conditions you can include in the contract of sale.
Contract of sale conditions
Adding conditions to a contract of sale can protect your interests. Conditions can consist of a ‘subject to finance’ clause which allows you to end the contract and recover your full deposit if you cannot obtain finance (subject to certain terms and conditions).
Another condition that can be added is a ‘subject to building and pest inspection’ clause. Adding a building and pest inspection clause gives you the ability to back out of the contract of sale during the cooling-off period if the inspection unearths significant issues.
Finalising property transactions
Finally, your property lawyer in Geelong will settle your property transaction. Not only will they take care of the deposit transfer, but they liaise with all necessary organisations to ensure the transfer of title of ownership is correct.
Property advice from property lawyers
Safeguard yourself by hiring experienced property lawyers for your property transaction. Contact the Geelong property lawyers and conveyancing team who know the Geelong, Bellarine and Surf Coast property market – Whyte, Just & Moore. Call 03 5222 2077 to set up your appointment.