Your real estate agent will recommend a realistic asking price, market your home, help negotiate terms and, hopefully, get a potential buyer to submit a written offer. We recommend that we review proposed terms of contract before you sign. That way we make sure that you are protected.
We monitor the progress of the sale with the buyer’s solicitor to ensure things move along efficiently while the buyer is arranging finance and inspections of the property. If your bank has registered a mortgage over the title , we help you to secure a release when the sale is complete. Settlement is where the seller and buyer, or their lawyers, exchange cheques fot documents of title and keys. We arrange for settlement cheques to be made out to your bank and other parties, including the local council, as you require.
Most homes are marketed through real estate agents. Typically buyers will tell the agent about the size and location of the home they are seeking and any particular home they have in mind. The agent will arrange inspections and attempt to answer your questions.
If you make an offer you may be asked to sign a contract for presentation to the seller and to pay a deposit.
Take care! You may feel under pressure because there is another buyer.
We recommend that you let us review the contract before you sign it. That way we check to see if it suits your requirements and, if necessary, include extra terms for your protection.
The seller may accept the contract or require changes. At this stage the agent works hard to assist the parties to close a deal. Your lawyer’s duty is to make sure that the terms of the contract, including any new terms, are suitable and to make sure you understand them.
You will have a set period to arrange your finance (if you want to borrow money to buy the house) and to arrange building, pest or any other inspections and to search official records relevant to the home, including zoning restrictions, easements and proposed developments.
It is your responsibility to check everything before you finalise the purchase. We can help you by discussing what searches you might need to have done on the property and by promptly arranging them for you.
If the property is being sold at auction, you will receive a copy of the contract beforehand. We can check it for you. Auction contracts don’t usually give you a chance to make changes after you sign so it is best to get your finance and inspections done before the auction. If your bid wins, you have to sign the contract on the spot.
If you need finance, we work with your bank. We will advise you about stamp duty and all other expenses and whether you are entitled to a discount or exemption. We liaise with the seller’s solicitor to make sure everything is in place for settlement, at which we hand over the money and are provided with documents to transfer the property into your name and release any existing mortgage.
All that is left is for you is to pick up your keys from the agent and move into your new home!
Copyright © 2023 reeslaw.com | All Rights Reserved. | Digital Agency - Supple