CONVEYANCING

l.          INTRODUCTION

The purchasing of a property can be rather complicated and it is necessary to have a professional person such as a Solicitor to conduct the complicated aspects of conveyancing on your behalf.  We will try to make the transaction as simple as possible for you and we will endeavour to ensure that the transaction runs smoothly and that you take possession of your new property with a minimum of fuss and as expeditiously as possible.

However, in achieving those goals, we must ensure that we obtain all necessary searches and enquiries on your behalf and that those searches and enquiries prove to be satisfactory.  Because we are often dealing with a large number of Government Departments, some delays can be expected.  We initiate our enquiries in all respects always at an early stage so as to minimise any possible delay.  We will tell you further in this bulletin of expected time schedules.

2.         THE LAW

In relation to the sale of residential properties, where Real Estate Agents exchange Contracts, there is a "cooling off period".    The minimum cooling off period is five (5) business days, however this can be extended by agreement between the parties.    If during the cooling off period, the purchaser withdraws from the Contract, the purchaser forfeits an amount equivalent to .25% of the purchase price.

The purpose of the five (5) day cooling off period is to generally enable the purchaser:-

[a]        To seek the advice of a Solicitor on the contents of the Contract.

[b]        To ensure that finance is formally approved.

[c]        To obtain any quality reports desired.

The exchange of Contracts can be effected either by an Estate Agent or by your Solicitor.  Where an Estate Agent effects the exchange and a Purchaser has not obtained legal advice then agreed cooling off period will always apply, where the property is residential property.

Where the agent has effected the exchange, you should contact your Solicitor immediately in order to obtain the advice required in relation to the Contract, and instruct him to obtain any quality reports that may be required by you.  However, where you do not sign the Contract with the agent and he does not effect an exchange of Contracts then it is usual for a Purchaser to instruct his Solicitor to waive the cooling off period.  The effect of this is then that the Contract for Sale becomes immediately binding on the Purchaser and the Purchaser has no right to withdraw from the Contract.

Where the cooling off period is waived the Solicitor ensures, before exchange, that:-

[a]        The Purchaser understands the contents of the Contract.

[b]        That finance has been formally approved.

[c]        That any quality reports required by the Purchaser are received and have proved to be satisfactory.

3.         QUALITY REPORTS

After you have selected your new home, the first major step will be the exchange of Contracts.  At that stage the parties become bound to the Contract and you, as Purchaser, will be required to purchase the property as it is at the date of Contract.

It is for that purpose that we recommend that you give consideration to the obtaining of certain quality reports.  The usual quality reports requested by Purchasers are:-

[a]        A Pest Report - a pest report is carried out by a qualified pest controller. No work is done on the property but the report contains information as to any present or past infestation by pests. It is always very wise to obtain this report whether or not you intend to fumigate the premises prior to moving in.

[b]        A Building Report - again a qualified building inspector or builder carries out a full inspection of the premises and reports as to its state of repair. Such a report can in some instances, be expensive.  Some Purchasers are happy to rely upon their own inspection or an inspection by a valuer or a friend who is in the building trade. It is a matter for yourself.

[c]        Engineering Reports - these are normally obtained where a Building Report makes mention of structural damage to the property.  

[d]        Survey Report -  this report is obtained to confirm that the structures upon the property being purchased sit wholly within the block.  It will also confirm whether any structures upon adjoining properties encroach upon the property that you are proposing to purchase.

[e]       Buiding Certificate - this is a Certificate obtained from the local council to confirm that council will not make any "upgrade or demolition orders" in relation to any strructures upon the property.  To obtain a Building Certificate, a survey must be provided to council.

It is a matter for yourself as to whether or not you obtain all or any of the above reports.  However, we do ask that you give us your early instructions to obtain these reports.  We obtain them on your behalf and will forward copies to you.

Please instruct us at the earliest opportunity as to which (if any) reports you require.

4.         VACANT LAND

Where you are purchasing vacant land it is imperative that you satisfy yourself prior to the exchange of Contracts that you can develope the land in the manner that you wish to.  So far as the zoning of the property is concerned, this information will be contained in the Section 149 Certificate in the Contract for Sale.  There will be other information in this Certificate that will be of assistance.  We will convey the contents of this Certificate to you at your first appointment.

Also, within the Contract for Sale there will be disclosed any covenants or restrictions as to user that might be on the title.  These can often govern the type of building that might be erected on the property including the size, the materials from which it is constructed and even colours.  Any restrictions as to user will be explained to you at your first appointment.

One area that may not be covered by the Contract or covered by our normal searches is the question of the geotechnical nature of the land itself.  In this regard, we would respectfully suggest that you satisfy yourself in relation to fill or landslip.  If you wish, you may instruct us to carry out specific searches or enquiries on your behalf in this regard.

5.         BUILDING CERTIFICATE

Where you are purchasing a property upon which there are erected improvements (usually a residence and other ancillary improvements) it is always prudent to obtain a Building Certificate from the Local Council.  This is a Certificate issued under Section 149(D) of the Environmental Planning and Assessment Act and it effectively is an advice by the Council that all improvements on the property are acceptable to them.  It prevents the Council from making orders in relation to the improvements on the property (provided there is no change from the date of the Certificate) for a period of seven (7) years from the date of that Certificate.

Whilst we have said it is prudent to obtain the Certificate, it is not essential to do so and we do need your instructions to obtain one.  The following should act as a guide in your consideration as to whether or not to instruct us to obtain a Certificate:-

[i]         Where the property is a new home, the Certificate is generally provided by the builder.  If it is not, we would recommend to you that you obtain the Certificate.

[ii]         Where the property is an existing residence but there have been changes to the property (e.g. conversion of a garage to a living area or the addition of a significant pergola) then it is advisable to at least obtain evidence of approval to those changes.  If that evidence is not available then we would strongly recommend that you instruct us to obtain a Building Certificate.  You should advise us from your observations whether or not such changes have been made to the improvements of the property.

[iii]        Where the property is an existing residence and does not appear to have any significant changes, then whilst it is still prudent to obtain the Certificate, it is again not absolutely essential.  If, however, there appears on the Survey Certificate any breach of Local Government Ordinances, we will (subject to obtaining your instructions) apply for a Certificate.

6.         TAXATION IMPLICATIONS

If you are purchasing your property for investment purposes there may be significant taxation implications.  This may also apply even if you are purchasing the property for your own use.

Taxation implications may involve income tax and/or capital gains tax.  You should give consideration to your tax position.

It is not our role to advise you on the tax implications.  Before proceeding to an exchange of Contracts, therefore, you should seek the advice of an accountant so as to be fully aware of all of the implications of the purchase in relation to all taxation matters.

7.         THE BINDING CONTRACT

The contract becomes absolutely binding in one of two ways:

[a]        Where there has been no waiving of the cooling off period, then it becomes absolutely binding upon the expiration of that cooling off period.

[b]        Where the cooling off period is waived, then it is absolutely binding at the point of exchange.

As pointed out previously, you purchase the property as it is in its present state of repair and condition.  Once the Contract is absolutely binding, there is nothing you can do about any defects in the actual physical quality of the property itself.  It is therefore essential that before you allow the contract to become absolutely binding, you have satisfied yourself in relation to contents of the Contract, your finance and the quality of the property.

After quality reports have been obtained and your finance has been formally approved, we proceed to a formal exchange of Contracts (the exchange).  Once this is done then all parties to the Contract are bound to proceed to completion in accordance with the terms of the Contract.  From the date of formal exchange of Contracts until the date of settlement should take somewhere between three and five weeks depending upon the circumstances of each case.

The Solicitor handling the matter should be able to give you a more accurate estimate after perusing the Contract.  During this period, the Solicitor is carrying out all the various conveyancing necessities such as provision of particulars of title to mortgagees, answering mortgagee's requisitions, raising of requisitions with Vendors, attending to stamping of documents, obtaining of surveys, statutory enquiries, Registrar Generals' searches and any other necessary documentation. During this period of time, you will be called upon to sign such documents as are necessary to complete the conveyancing transaction.

If there is any problem with the searches obtained during this period, then this will be brought to your attention immediately.  Your rights pursuant to the Contract for Sale will, at that stage, be discussed.  Any monies found to be owing in respect of the property which form a charge over the property will be paid before the final completion or on the final day of completion.  These will be the responsibility of the Vendor.

8.         TIMING

After the binding Contract, the Solicitor handling your matter will continue to undertake the various searches necessary to ensure that you obtain a good title free from undisclosed encumbrances and charges.  At the same time, the conveyancing technicalities such as the provision of particulars of title to mortgagees, the answering of mortgagees requisitions, the raising of requisitions with Vendors and consideration of replies, attending to stamping of all documents, obtaining of survey, statutory enquiries, Registrar General's searches and any other necessary documentation.   During this period, you will be called upon to sign such documents as are necessary to complete the transaction.

The usual time to complete a transaction is five (5) weeks.   The time for completion can be shorter or longer subject to agreement between the parties.   Some matters are delayed beyond the agreed completion date for various reasons.   If this situation is likely to occur, you will be notified by the solicitor looking after your matter at the earliest opportunity.  Within the first ten days after exchange, we endeavour to fix a date for settlement with the Vendor's Solicitors.  You will be consulted in this regard and we will use our best endeavours to select a date to comply with your wishes.  If there are any unforeseen problems that may delay the matter, then you will be notified immediately such problems come to light. 

If there is any difficulty with the results of searches obtained on your behalf, then this will be brought to your attention immediately.  Your rights pursuant to the Contract for Sale will at that stage be discussed.

When the exchange of Contracts takes place that is the time that the 10% deposit is paid.  It is a normal practise to pay 10% of the full purchase price.  Quite often, however, a Purchaser does not have a full 10%.  In those circumstances, we endeavour to negotiate with the Vendor to reduce the deposit payable.  We point out that it is only by agreement that a deposit less than 10% can be paid.

If you are selling your own home at the same time as purchasing another property it may well be that you are unable to fund the full 10%.  There are a number of options available to you in these circumstances.  Firstly, you could borrow the funds. Secondly, we can request the Purchaser's Solicitor on your sale to release the deposit to you.  Purchasers and their Solicitors often agree to this, but usually only on the basis that the deposit which is released will only be used as a deposit and not for any other purpose.  A third alternative is to use a Deposit Bond.  This is where a financial institution such as a Bank or a Building Society provides a bond in lieu of the deposit.   You would normally pay a premium for the provision of this Bond and the amount of such premium will depend upon the amount of deposit.  Simply ask your Marsdens Solicitor for details in this regard.

 10.         COSTING

By law we are governed by the Legal Profession Reform Act.  This Act provides that we cannot take action for the recovery of legal costs until thirty (30) days after a Bill of Costs has been given to you.  We do point out, however, that at the expiration of this thirty (30) day period, interest pursuant to the Act will apply.  We would also point out that where an agreement has been reached in respect of costs and you have been provided with a quotation, this right will not necessarily be available to you.  We have provided you with a quotation.  That quotation indicates when payment is required.  We note that that quotation has been accepted by you.

If you consider that any charges are unreasonable, then you have a right to have your Bill assessed by an Assessor as appointed by the Supreme Court.  However, we point out that where you have accepted our quotation this in effect constitutes an agreement as to costs and this right may not necessarily be available to you.

11.        STAMP DUTY

Once the Contract for Sale has been exchanged, it immediately becomes liable to stamp duty.  The regulations of the Office of State Revenue (the Department that collects stamp duty) provide that duty must be paid within a period of three (3) months from the date of exchange.  If you are borrowing to fund your transaction, your financial institution will however require stamp duty to be paid on your Contract and Transfer prior to settlement.  This means that despite the fact that you have three (3) months to pay the stamp duty, your bank will require stamp duty to be paid before completion.  

If you are eligible for the First Home Owners Grant (FHOG), we will complete with you forms to obtain the stamp duty exemption.   So far as the $7,000.00 grant is concerned, in most instances your bank will have you complete the appropriate forms to have the $7,000.00 made available on completion.  Please note that where we are requested to obtain the $7,000.00 grant, this cannot be made available on completion and can only be paid after the registration of the Transfer at Land and Property Inforamtion.

In circumstances where you, as a first home buyer, are entitled to a discounted stamp duty, the documents will be prepared by this office.  The discount of fifty percent (50%) on stamp duty is available only to first home buyers who meet the income restrictions.  Income restrictions are varied from time to time by the Government and you should speak to the Solicitor handling your matter to ascertain whether or not you qualify.

12.        RATES

When you purchase a property you will become liable for Council Rates, Water Rates and in some rare cases, Land Tax.  The Vendor to you is also liable for those rates.  The standard Contract for Sale provides for these rates to be adjusted on completion.  This means that the Vendor will be liable for that proportion of rates from the beginning of the rate year up to the day of completion and you will be liable for that proportion of the rates from the day of completion up to the end of the rate year.  When we call for your balance of purchase money, an estimated amount for rate adjustments will similarly be requested.

13.        MOVING  IN

When all enquiries have been completed and your mortgagee's requirements have been satisfied, your solicitor will then endeavour to arrange an appointment to “settle” your transaction.  This involves a meeting of your Solicitor's representative, the Vendor's representative, your mortgagee (if any), and any discharging mortgagees.  As you might well appreciate, the logistics of even arranging the settlement are extremely complicated.

You are entitled to take possession of your property at the time of settlement.   Prior to settlement taking place, it is recommended that you undertake an inspection of the property to confirm that the proeprty has not been damaged between exchange and seettlement.   This inspection should be arranged through yoru Real Estate Agent.  

In any event, we endeavour to allocate a time for settlement at the earliest possible date.  This gives you at least some firm guide as to when you will be able to move in.

14.        IF YOU HAVE ANY PROBLEMS

If at any time you are not completely happy with the service you are receiving, then we ask that you tell us your concerns.

We further recommend that you mention any problems to the Solicitor handling your matter or the Partner in Charge.  If either the Solicitor or the Partner is not available or you do not feel it appropriate to discuss the problem with either of those persons, then feel free to contact our Managing Partner, John Adam.  We guarantee to you that any concern will be addressed courteously and expeditiously and, hopefully, to your complete satisfaction.

We also point out to you that, should we not be able to satisfy your complaint, then the Law Society Professional Standards Department can be contacted to take the matter further.  We trust that you will never have to take any matter this far, however, we feel it is your right to know all the alternatives available to you.

15.        CONCLUSION

As stated previously, this is not meant to give you a comprehensive statement of what a conveyancing transaction is all about.  However, it is meant to give you an idea of what occurs during the course of a conveyancing transaction.

Your Solicitor within our organisation is only too happy to answer any of your general enquiries or specific enquiries either on the telephone or during the course of an interview.

Solicitors within our organisation recognise the significance of this transaction to you and we treat it with the same importance that you do.  If you have any difficulty, enquiry or problem, you should not be backward in coming forward to discuss it with your Solicitor.

FOR MORE INFORMATION please contact Mr Peter Crittenden, Partner on 46 265077 OR email pcrittenden@marsdens.net.au

B:        SELLING  A PROPERTY.

The present state of the conveyancing law in New South Wales places a substantial onus upon vendors of properties. The first onus could be described as the onus of “disclosure”. In summary the effect is that the vendor must disclose certain prescribed information about the property. He must also annex certain prescribed documents to the Contract for Sale. From a practical point of view the vendor should go even further than the disclosures prescribed by law and should disclose to a purchaser as much information as possible about the property. In the long run this will assist in the sale of the property and most certainly assist in completing an exchange of Contracts and eventual settlement of the property.

The second onus is the onus to provide a copy or the original proposed Contract for Sale at the point of sale. Effectively therefore, where the property is being sold privately, the vendor must be in possession of the proposed Contract for Sale (it will suffice for your Solicitor to be in possession of that Contract ) or where it is listed with an estate agent, the vendor must, through his Solicitor, provide a copy or the original proposed Contract for Sale to that agent. A practice has been agreed between Solicitors and agents to provide the agent with the original and a copy of the proposed Contract for Sale so that the agent may fill up or complete the Contract for Sale when a purchaser has been located and where appropriate effect the actual exchange of Contracts for Sale.

The Contract for Sale of residential property usually used in New South Wales is a Contract devised by and adopted by the Law Society of New South Wales and the Real Estate Institute of New South Wales.  It is said to be a "Plain English" Contract and it is, in our view, a very fair Contract.  We do, however, make some minor amendments to the Contract where appropriate.  This will be explained later.

Given the heavy onus placed upon a vendor, it is wise that you have chosen a professional person such as a Solicitor to carry out the work on your behalf.

2.          DISCLOSURE

2.1       Compulsory Disclosure - Documents

The Act and Regulations require a vendor to make disclosure in relation to the land by attaching to the Contract for Sale certain documents. Those documents may be summarised as follows:

[i]      A Zoning Certificate under Section 149 of the Environmental Planning & Assessment Act from your local Council.

[ii]     A Drainage Diagram.

[iii]     All necessary documents from the Registrar Generals Office including a copy of the Plan of the land, a copy of the Folio of the Register and a copy of all Deeds or Dealings creating Easements or Covenants purporting to burden the land.

[iv]       Where the property is Strata Title, a copy of the Strata Plan in addition to the above documents.

[v]        Where the land is Crown Land, a copy of the Tenure Card.

If the documents are not annexed to the Contract, then the purchaser may rescind (withdraw from the Contract without losing any deposit) within fourteen (14) days from the date of exchange of Contracts.

It is therefore the policy of this office to immediately apply for all of the documents not provided by you or your agent. This will avoid any delay in having the property put on the market at the earliest opportunity.  It would be appreciated, therefore, if you would forward to us the sum of $300.00 to cover the cost of these documents as well as initial professional fees on the preparation of the Contract.   If you are unable to pay at that time you should notify us and we will enter into a mutually satisfactory arrangement for payment.

2.2       Compulsory Disclosure - Building Matters

2.2.1    Survey and Building Certificate

The Act and Regulations provide a warranty by the Vendor that, as at the date of the Contract and except as disclosed in the Contract, there is no matter in relation to any building or structure on the land that could justify the making of an order by the local authorities, (i.e. the Local Council) or, if there is such a matter, a Building Certificate has issued in relation to the building or structure since the matter arose.  If one is discovered by the Purchaser then the Purchaser may rescind the Contract (withdraw from the Contract without losing any deposit).

The type of thing that could cause problems include unauthorised structures such as pergolas and swimming pools as well as possible conversions of, say, a garage into a living room.  On this basis we strongly recommend that there be annexed to your Contract for Sale the following:-

(i)         An up to date Survey Certificate;

(ii)        An up to date Building Certificate from the Local Council; and

(iii)       Any information about improvements to the property whether Council approved or not.

In relation to (i) and (ii) above, we will request your mortgagee (if any) to provide us with copies of any existing documents.  If, however, the mortgagee does not have these documents, then we would strongly recommend that you obtain fresh documents for annexure to the Contract for Sale.  The cost of these documents will be no more than $620.00 which includes our professional fees pertaining to the documents.  We will advise you whether or not your mortgagee actually has the documents.  If the mortgagee does not have the documents and you adopt our recommendation to obtain them, then we require the payment of the sum of $620.00 at that time.  The obtaining of these documents will most certainly expedite your sale when a Purchaser has been located.

2.2.2    Subject to Building Certificate

Where you have not obtained a Survey Certificate and Building Certificate for annexure to the Contract then quite often a Purchaser will need to obtain a Survey Certificate and Building Certificate for both their own protection and for their mortgagee.  Occasionally a Purchaser's solicitor will therefore request that the Contract for Sale be made "subject to" the issue of a Building Certificate.  This means that the Purchaser will apply for and pay for their own Certificate, but if the Certificate is not issued by the Council, then they will be entitled to withdraw from the Contract and have the whole of their deposit refunded.  If a request is made to make the Contract subject to the issue of the Certificate and, if you are not purchasing another property, then in those circumstances we would recommend that you accept the condition.

2.2.3    Approved/Unapproved Improvements

We will also be providing you with a Questionnaire form.  That Questionnaire form will ask you about improvements to the property.  If there are any improvements to the property that have not been approved by Council then, again, we would urge you to have them approved by Council at the earliest opportunity.  If you do not propose to have them approved by Council then you will need to tell us about them in any event as they will need to be disclosed in the Contract.  If you have any problems, questions or doubts in regard to these aspects of your sale please speak to the solicitor handling your sale.

2.2.4    Summary

In summary, as we have indicated, it is our very strong recommendation that you obtain a Building Certificate for annexure to the Contract.  If you do not and, if there are matters which would require upgrading or demolition of a structure, then this may give rise to the ability of the Purchaser to withdraw from a Contract (rescind the Contract) or, in some cases, require you to attend to the demolition or upgrading at your own costs.  There is also the possibility that, if there is a breach of the warranty in any major way, then the Purchaser could take action in damages.

4.         WARRANTIES

The Legislation also states that unless the vendor discloses something to the contrary in the Contract for Sale, the land being sold is not affected by Government regulations from numerous Government Departments. Our questionnaire form covers all of these aspects and unless you have received a Notice from a Government Department it is highly unlikely that the property is affected. If any Notices have however been received by you in relation to the property then you should forward the Notices to your Solicitor.

5.          EXCHANGE OF CONTRACTS AND COOLING OFF

There can be no binding Contract between a vendor and purchaser unless there has been effected an “exchange of Contracts”.  An exchange of Contracts is simply where your Solicitors hand over the Contract for Sale, signed by you, in exchange for the Contract for Sale signed by the Purchaser.  This, of course, may be effected by the Estate Agent as set out elsewhere in this Information Pamphlet.  It is at this time that the full agreed deposit is to be paid by the Purchasers.

5.1       Cooling Off Period

The present position is that the Conveyancing Act provides for a “cooling off” period of five (5) business days from the date of the exchange. If cooling off rights are to be surrendered or the period for cooling off to be shortened then it is necessary for the purchaser to give the vendor a Certificate signed by a Solicitor or a Barrister which Certificate is prescribed by the Act. Where the Certificate is given then there is no cooling off period and the Contracts are binding at the time of exchange of Contracts. Where however no Certificate is given then it is important that you are aware that there is a cooling off period.

The purpose of the cooling off period is to allow purchasers to arrange their finance and quality reports such as Pest and Building Reports. Quite often however a period of five (5)days will not be sufficient time to obtain these reports and have finance approved. We would ask that you agree generally to an extension where necessary. Unless otherwise advised by you we will agree to an extension on your behalf of no more than five (5) days.

The exchange of Contracts may be effected by either: -

[a]        The Estate Agent; or

[b]        Your Solicitor.

5.2       The Exchange of Contracts.

Where the exchange has been effected by the Estate Agent then in most cases the cooling off period will apply and the Certificate waiving it will not have been provided. It is therefore important that where you are purchasing another property it is better that the exchange of Contracts be effected by your Solicitor and the Certificate waiving the cooling off rights be obtained on the exchange. You should instruct your Solicitor in that regard.

Where the agent has not exchanged and exchange is to be effected by the Solicitor, it is normal we endeavour to obtain a Certificate waiving the Cooling Off rights.  The effect, therefore, is that the Purchaser is bound by the Contract for Sale immediately upon an exchange.  You will be advised whether or not the Cooling Off rights have been waived.

The amendments to the legislation are quite new and have not yet had the opportunity of being fully tested. If you have any enquiry in relation to the amendments please do not hesitate to contact your Solicitor.

6.          ARE YOU PURCHASING?

If it is your intention to purchase another property in the hope that you will move directly from your existing property to the new property, then you should advise the Solicitor handling your matter. That Solicitor will do all in his power to co-ordinate the sale and the purchase so that you can move from one property to the other.

In order to do this, it is necessary to co-ordinate the timing of both transactions and to get the agreement of your purchaser and your vendor to the time required by you.  It is not always possible to co-ordinate the two transactions but if you give your Solicitor due warning of your intention to purchase, then the chances of co-ordinating both matters together are much greater.

7.          TIMING

A common question asked `by a vendor is “How long will it take?”. Because of the conveyancing system in New South Wales, it is not possible to answer this question definitely. However, we endeavour to give you a guideline as to the timing and to fix the time for exchange of Contracts and final settlement of your transaction as early as possible.

As a guide however we can provide the following information:-

[a]        When a purchaser has been located by your agent, the agent will fill up the Contract for Sale and either forward same to the respective Solicitors or arrange for the exchange. If he arranges for the exchange then you could expect settlement to take place within four (4) to five (5) weeks after the expiration of the cooling off period.

[b]        Where the exchange has not been arranged by the agent then you can expect a formal exchange to take place (probably without the cooling off period) within five (5) to ten (10) days of the actual sale.

Settlement could then be expected in about four (4) to five (5)weeks from the actual formal exchange.

8.          COSTING

By law we are governed by the Legal Profession Reform Act.  This Act provides that we cannot take action for the recovery of legal costs until thirty (30) days after a Bill of Costs has been given to you.  We do point out, however, that at the expiration of this thirty (30) day period, interest pursuant to the Act will apply.  We would also point out that there where an agreement has been reached in respect of costs and you have been provided with a quotation, this right will not necessarily be available to you.

We have provided you with a quotation.  That quotation indicates when payment is required.  We note that that quotation has been accepted by you.

If you consider that any charges are unreasonable, then you have a right to have your Bill assessed by an Assessor as appointed by the Supreme Court.  However, we point out that where you have accepted our quotation this in effect constitutes an agreement as to costs and this right may not necessarily be available to you.

We will keep your file open for a period of no longer than six (6) months.  If the property has not been sold at that time we will close our file and render a final account.  It will be possible, nevertheless, for the file to be reactivated if the property is subsequently sold and, for a limited period of time (up to about twelve (12) months, the documents can still be used in any Contract for Sale.

9.         PAYMENTS ON SETTLEMENT

When settlement is effected, we, as a matter of course, attend to payment of any mortgagee or caveator that is registered on the title to your property.  Our costs and disbursements will be deducted from the proceeds of sale and, if the agent is not holding the deposit, we would normally (subject to your instructions to the contrary) forward the agent's commission to him.

However, if there are other payments that you would like us to make from the proceeds of sale, then please advise us.  These payments might include the payment of the balance of Deferred Stamp Duty (which, by law, must be paid on the sale of the property), the payment of any major debt or any series of debts.  These payments will not be made, however, unless we are instructed by you to make the payments.

10.       IF YOU HAVE ANY PROBLEMS

If at any time you are not completely happy with the service you are receiving then we ask that you tell us your concerns.

We further recommend that you mention any problems to the Solicitor handling your matter or the Partner in Charge.  If either the Solicitor or the Partner is not available or you do not feel it appropriate to discuss the problem with either of those persons, then feel free to contact our Managing Partner, John Adam on (02) 4626 5077 or email him on jadam@marsdens.net.au.  We guarantee to you that any concern will be addressed courteously and expeditiously and, hopefully, to your complete satisfaction.

We also point out to you that, should we not be able to satisfy your complaint, then the Law Society Professional Standards Department can be contacted to take the matter further.  We trust that you will never have to take any matter this far, however, we feel it is your right to know all the alternatives available to you.

11.        CONCLUSION

As you can see the conveyancing transaction can be rather complex. Your Solicitor however, is trained and experienced in those transactions and what appears to be extremely complex to you is handled with confidence by your Solicitor.

The Solicitors employed in the Commercial Property Department of Marsdens Law Group are highly trained and experienced to handle all conveyancing matters.

Should you wish to discuss your needs please contact Mr Peter Crittenden on 46 265077 or email pcrittenden@marsdens.net.au .