As property lawyers in Geelong, we often get asked the same questions by first-time home buyers, so we’ve decided to answer a few frequently asked questions to help you. If your question is not answered in this publication or you need further advice on residential conveyancing, contact us on (03) 5222 2077 or email firstname.lastname@example.org to schedule an appointment to discuss your property transaction.
What is conveyancing?
Conveyancing is the process of transferring (or conveying) ownership of land from one individual to another. The process is done according to the terms in the written contract of sale. Since every state in Australia has different laws, it’s important to engage a property lawyer in your state. Conveyancing is a complex process with a plethora of documentation, timing and conditions that must be followed carefully.
Difference between property lawyers and conveyancers
While conveyancers and property lawyers seem the same, they have different qualifications and areas of expertise. Both conveyancers and Property Lawyers are qualified to assist you during a conveyancing transaction. However, some property transactions may benefit from the legal expertise of a Property Lawyer.
Lawyers who work in property conveyancing can help with more complex property matters such as property disputes. They also have experience with construction law, which may be necessary if you undertake property renovations or developments.
Do you have to have your contract reviewed before you sign?
A contract is a legal document used in the property sale process. It outlines the information about the vendor and buyer, details of the sale, including conditions and any special arrangements. Before it is signed, you should understand your rights and obligations to protect yourself from issues down the track.
Do you have to have your Section 32 reviewed before you sign?
A Section 32 is a legal document used in the property sale process. It outlines all the information about the property that the vendor is legally required to provide to the buyer. A section 32 must be accurate and complete otherwise the buyer may be able to withdraw from the sale or take legal action against the vendor.
What is the cooling-off period?
Cooling off is a term used to describe the rights of a purchaser of a property to cancel the contract and walk away from the purchase within a specific time period. In Victoria, a purchaser has three business days from the date they sign an offer to ‘cool off’.
What is an off-the-plan purchase?
Buying ‘off-the-plan’ is purchasing land or a unit that only exists as a drawing on a proposed plan. Building works have not yet commenced, but purchasers can enter into contracts to purchase land or units of the proposed site.
Geelong Property Lawyers
Property transactions can be a complex and daunting process. WJM clients benefit from having access to our property law team, who have the experience, expertise and knowledge needed to help you navigate the conveyancing process. Our property lawyers in Geelong will answer your questions and give legal advice on all property-related matters. And we take pride in offering personalised support at every step – so you can feel confident when buying or selling property. Whether you are a first-time home buyer or an experienced property investor, we want to make sure that your interests are represented every step of the way.
Reach out to WJM’s property lawyers to discuss your property transaction in more detail. You’ll feel confident that your property transaction complies with all legal requirements with our experienced property lawyers by your side.