Buying or Selling property is not an everyday transaction. Legislation, Government requirements and Conveyancing practices have changed over time. Contact our office prior to selling or buying, we can advise and ascertain your requirements and legal obligations specific to your transaction, making the process smoother and keeping you informed.
DEPOSIT – When purchasing property and the deposit is due to be paid, always contact the agent over the phone confirming the trust account details for payment of deposit. There are a lot of phishing emails and email accounts being hacked, you do not want your deposit going elsewhere and potentially lost forever. Our office will never provide our trust account details via email.
Form 1 Vendor’s Statement – is the disclosure statement from the Vendor to the Purchaser, upon receipt of the Form 1 your cooling off period starts, being 48 hours not including weekends e.g. received Friday cooling off will expire midnight the following Tuesday. After cooling off has expired you will only be subject to the special conditions within the Contract e.g. finance, sale of your property, building and or pest inspections.
Pool Compliance – If purchasing a property with a pool, we recommend adding a special condition to the Contract of Sale, stating the Vendor is required to provide a Pool Compliance Certificate obtained from a qualified tradesman prior to the settlement date, if not provided prior to the settlement date, settlement will be delayed until the compliance certificate is provided to the Purchaser. If Selling a property with a pool it is prudent to have the pool inspected and a Pool Compliance Certificate obtained prior to going to market. Fines of up to $15,000 can apply where a pool is non-compliant with the current pool regulations. Please see the following link https://www.sa.gov.au/topics/planning-and-property/owning-a-property/pool-and-spa-safety