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The buying and selling of property, whether residential or commercial,
is a very significant step in most people's lives. It is not just a matter
of reading through or preparing a contract. For example:
Vendor disclosure
Pursuant to the Law in NSW, the purchaser has a right to withdraw from a
contract to buy a property if, after exchange of contracts, the purchaser
discovers that there is a matter relating to the property that could justify
the making of a upgrading order or a demolition order by the local Council
or that there are any adverse notices from Government authorities or neighbours
relating to the property. These Laws place significant obligations on an owner
to ensure that all is in order with Council or if it is not, then you should
specifically disclose the problems to the purchaser prior to exchange of
contracts. The right of the purchaser to pull out upon discovery of a problem
applies regardless of whether you were aware of the problem or not. Therefore,
it is very important that you advise us of any possible problems relating
to the property or any notices that you may have received from Government
authorities or neighbours that relate to the property.
Taxation matters
Do you know whether you will have to pay Capital Gains Tax, GST or Vendor
stamp duty when you sell?
Survivorship
Do you know who is going to receive your share in a property that you own
when you die?
Finance
More intricate financial arrangements are being made with banks to finance
the purchasing of properties. It is vital that a buyer understands their
rights and obligations when agreeing to mortgages, lines of credit, third
party mortgages and guarantees (whether personal or as a director). Are
you giving the bank access to more than you think?
Marriott Oliver has experienced practitioners that
can lead you through this complex area. Craig Lockart, Carolyn Hagedoorn and Anne Brown
have the knowledge and skill to explain your rights and obligations to
you and deal with any problems that may arise. They have good working relationships
with their colleagues in the legal profession, conveyancers, real estate
agents and finance brokers.
As property and commercial lawyers Craig, Carolyn and Anne can also assist
you in the areas of sales and purchases of businesses, leases, subdivisions
and boundary adjustments, and dealing with Councils.
Our property section is geared to quickly and expertly
managing your matter. Proposed sale contracts are issued within 24 hours.
Reports to investigate the property are ordered as soon as we receive notification
that an agreement has been reached between a buyer and a seller. Appointments
can be made quickly so that as a buyer or seller can act promptly
to have contracts exchanged.
Marriott Oliver Financial Services can also assist you
with finding a loan that suits your
circumstances.
Legal Costs: Craig, Carolyn or Anne will be able to give
quotes for the work required.
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