A General Overview for Buyers and Sellers
Let's Talk About Conveyancing
Conveyancing A Simple Definition
Conveyancing is the legal process involving the transfer of property from one person to another. A New South Wales law states that all transfers of property are in writing. Each sale and transfer of property must comply with the laws of the state. Professional conveyancing lawyers JRA legal Newcastle, make sure that the transfer of ownership of property complies with these laws.
Experienced Conveyancer and Property Lawyer In Newcastle, NSW
Buying or selling a property can be an exciting time. It is one of the most important decisions that you will make in your lifetime. The excitement can be accompanied by confusion and stress, as you try to understand the conveyancing process and its possible pitfalls.
Here To Help
JRA legal Newcastle are here to help you and minimise the stress. JRA legal are not only conveyancers we are lawyers. In addition to assisting you with the conveyancing process, we also provide legal advice. This expertise gives you some extra protection in the event of a dispute with a vendor, purchaser or tenant.
More Than Just Conveyancing
JRA legal maintains a close relationship with local real estate agents, property developers and many other legal firms. Our fees are super competitive, being no more than the majority of conveyance only firms. In addition to having a conveyancer you have the added benefit of our legal expertise.
JRA focus on giving clients timely advice and explain the contracts to our clients. Our number one priority is client care. We do things thoroughly and properly. Others promise cheap conveyancing and all you receive is a piece of contract advice via email or by post.
Communication Is Key
For us, it's all about communication. We will discuss with you the costs of disbursements for your matter. The disbursements referred to are your property searches and inspections. The cost of searches varies for each property as this will depend on the address of the property. For example, property searches for a home located in Lake Macquarie will be different in costs than a property located in Newcastle or Maitland. JRA legal are specialists in conveyancing and property law for all types of commercial and residential property. We cover a range of council areas in the greater Hunter Valley. We provide conveyancing services to the Newcastle, Cessnock, Lake Macquarie, Maitland and Port Stephens council areas. If you are a first home buyer or a seasoned investor, simply buying or selling property, we make the process of conveyancing in easy. We offer practical advice on property law and timely updates throughout your entire property transaction.
Friendly, Reliable, Local
At JRA you are always assured of friendly service at all times, and we are available after hours and on weekends. JRA Legal are highly professional and well regarded; we are reliable, local and affordable. If you're buying or selling property, need residential conveyancing or commercial property conveyancing, JRA legal provide a conveyancing service tailored to your needs. We are the conveyancers who are fast, efficient and make sure YOU the client is looked after from start to finish. We will be with you from when you find a property and make an offer, right through to settlement. JRA legal Newcastle are seasoned conveyancing solicitors who put you first. We strive to make sure your property settles on time, so you can get on with your plans. JRA legal and conveyancing in Newcastle understand that we all have busy schedules. To assist clients, we are available into the evening and weekends, making sure you are up to date and happy.
What Is Conveyancing ?
Conveyancing is the legal process of transferring the title and ownership of a property from one person to another. Conveyancing may also include the granting of an encumbrance such as a mortgage. The conveyancing process consists of two parts. These parts are the exchange of contracts and the settlement, including the settlement period and the settlement date. The settlement period refers to the time elapsed between the exchange of contract and the delivery of the key to the new owner. This period is to allow time to finalise any paperwork, finalise finance, move out of the property, clean, undertake any required repairs. Property settlement day refers to the day the new owner takes possession of the property, after having paid the vendor in full. As noted above, conveyancing is a legal process and should, therefore, be handled by a professional conveyancer or solicitor. This ensures the protection of the rights of all parties and compliance with all legal obligations. The three basic steps in conveyancing are research, negotiation and documentation. We verify the sales contract and make requests to local councils for updated surveys, building and construction certificates. We request from relevant government departments for any other essential documents. Finally, we attend to the final settlement.
When you sign a contract of sale to purchase a house, that's only the very beginning of the legal process. There are many checks that need to be carried out before a sale is finalised. When a property sale is finalised, this is known as a settlement. When you hand over your hard-earned monies to a conveyancer or solicitor to handle the transaction, they do put it to good use. They are handling a broad range of matters to ensure your rights are protected and that the sale goes smoothly. In broader terms, a solicitor is responsible for making sure you meet all the legal obligations involved in your property transaction. The scope of work that a lawyer covers will vary depending on the complexity of the property transaction.
Click here for a more detailed overview of What is Conveyancing?
Buying Property In Newcastle ?
Conveyancing for Buyers
Buying a home in the greater Newcastle and Hunter Valley area will be one the largest financial decision of a home buyer will make. As professional conveyancing lawyers in Newcastle, we will guide you through the conveyancing process. These may include the following;
Review the contract of Sale - Review, advice and seek amendments to the contract for sale of property.
Arrange for reports on the property.
Apply for pest and building reports
Apply for property certificates, zoning certificates & a plan of the land
Obtain sewerage diagram, documents showing any restrictions, easements or special conditions on the property
Apply for a strata report (if part of a complex)
Review the entire Contract for Sale of land thoroughly
Make any appropriate enquiries with council, banks, solicitors, neighbours and other relevant parties
Ensure finances are in order
Attend to necessary home searches
Arrange payment and stamping of documents
Investigate and issues with the property including any vested interests, outstanding arrears and disputes
Manage the change of title of the property
Preparing for and attending to property settlement
Attend to financial adjustments including rates, water, electricity and levies
Liase with third parties including banks, brokers, solicitors, realtors and government departments
JRA legal and conveyancing has extensive knowledge and experience of the purchasing process throughout Newcastle, Lake Macquarie, Maitland, Cessnock and Port Stephens. We ensure your legal rights are protected and most importantly, you get clear title for the property you purchase. Click here for a more detailed outline on conveyancing for buyers.
Gazumping occurs when an agent or seller accepts an offer you make to buy a property at an agreed price but the property is sold to someone else. This usually happens when the vendor sells the property for a higher amount. The agent is legally obliged to pass on to the vendor any further offers received for the property up until the exchange of contracts.
In NSW, a property sale is binding on the seller and buyer when contracts are exchanged between the two parties. Exchange occurs when the seller signs their copy of the sale contract; the buyer signs their copy, and the two parties exchange their signed contracts. It is usual at this time for the buyer to pay a deposit, usually 10% of the purchase price.
If you are gazumped, neither the agent nor the seller are obliged to compensate you for any money you may have spent on legal advice, inspection reports, finance application costs or inquiries. Your expression of interest payment must be refunded to you in full.
Selling Property In Newcastle?
Conveyancing for Sellers
Given the nature of the Newcastle property market, selling a home can often become frantic and stressful.
To make the sale of your property as stress-free and enjoyable as possible, JRA legal and conveyancing (residential property lawyer/real estate lawyer / property solicitor / conveyancing solicitor) will:
Prepare the Contract for Sale of Land including all necessary legal documents
Order appropriate searches
Coordinate with agents so that your property is placed on the real estate market
Promptly respond to purchaser’s queries
Review and advise on proposed amendments to the Contract for Sale of Property
Preparing for and attending to settlement
Release of any mortgages
Liaise with third parties including banks, brokers, solicitors, and agents
Most importantly, arrange for surplus funds to be provided to you
We have handled many sales of real estate properties throughout Newcastle, Lake Macquarie, Maitland, Cessnock and Port Stephens areas. You can rest assured that we will protect your legal rights and ensure the entire process is stress-free when buying and selling your home. Contact JRA Legal we are the property lawyers or conveyancers that help you. Click here for a more detailed overview on conveyancing for sellers.