Frequently Asked Questions
Are there additional costs?When purchasing a property, you should be mindful of the additional costs that can be associated with this process. Not all of the list below will apply to everyone, but some potential charges to consider include: – Lender’s fees – Inspection costs – Insurance – Moving costs – Estate agent fees
Can I do the conveyancing work myself?It is not against the law to do your own conveyancing work. However, conveyancing work is highly technical and highly specialised. Do not attempt to do your own conveyancing unless you know precisely what to do and are certain you have the capacity to do it before you enter into the transaction. You cannot expect any assistance from the conveyancer acting for other party. If you make an error, you may cause settlement to be delayed (causing default interest to be payable by you) or even enable the other party to terminate the contract.
How are the authorities notified that I have purchased a property?When your transfer papers are lodged for registration after settlement, the Local Council, the Public Utilities (such as water) the Valuer General and the Office of State Revenue are all automatically notified of the purchase. Other providers, such as the phone and electricity suppliers however, will need to be notified by the purchaser.
What are Search Fees?We carry out a comprehensive list of property checks and searches, which are charged to you without markup ensuring you are only paying for what you get. The list of these fees will be provided to you when you begin your conveyance and vary from property to property.
What is a Power of Attorney?The granting of a Power of Attorney gives to the recipient the power to do all actions and things and to bind third parties just as if the original grantor of the Power of Attorney had entered into the Contract themselves. There are many different forms of Powers of Attorney However they fall into five main categories:
- Limited Power of Attorney (granted to allow limited transaction)
- Normal Power of Attorney (full transactional powers over the Grantor’s property/assets)
- Financial ( dealing only with financial matters)
- Health (dealing with health treatment and related issues)
- Enduring Power of Attorney (granted to act on behalf of incapacitated Grantor)