Our Residence is in Greenvale 3059 your Greenvale Residential Conveyancer !
Whether you’re buying House and Land in Greenvale Lakes or selling in Greenvale Home Conveyancing Reservoir are your Home Conveyance specialists in Greenvale.
Insurance Building Insurance is recommended to be taken immediately after signing a Contract as a purchaser has an equitable interest in the property. The property normally remains the risk of the Vendor until settlement. However, there have been circumstances where substantial damage has been caused to the property prior to settlement and the Vendors insurance policy was ineffective. Purchasers obtaining finance will require an insurance policy to be paid in full prior to settlement as the mortgagee will not effect settlement without insurance being in place. The mortgage may also ask you to produce a copy of the paid insurance policy before settlement. You should consult with your bank about the minimum cover required. Most mortgagees will determine the amount of cover based on their valuation conducted on the property. The insurance policy will also need to have the mortgagee’s full name noted on the policy. Professional Indemnity Insurance Pursuant to Part 3 of the Conveyancers Act 2006 this firm holds Professional Indemnity Insurance against civil liability in connection with all conveyancing work performed in the course of this business. Further details including a copy of the Insurance Policy Schedule, Amount of Cover and any relevant exclusions on the cover may be obtained upon request. Settlement Home Conveyancing Reservoir provides service information for Vendors at settlement time. Settlement date is the date agreed between the parties for the Purchaser to become the new owner and is entitled to take possession of the property. The settlement time is arranged between vendors, purchasers and mortgagees and a mutual time is agreed on. Settlement is effected at either the Vendors representatives office (if clear title) or the discharging mortgagees office, if a mortgage is registered on the title. All parties attend the office of who holds title. It’s a clear case of I’ve got the title, come and get it! This office attends settlement on behalf of their clients. Settlement cheques are always payable by way of Bank Cheques and no personal cheques are accepted as settlement. At settlement all parties check the cheques, transfer documents and title to ensure that a good Title is being provided, settlement is then deemed to have taken place. The client is then contacted to advise that settlement has been effected. Usually the council will issue new rates which will be the purchasers responsibility as the rates are issued after settlement date. Discuss the matter with your accountant or contact the Australian Taxation Office to determine whether you will be liable to pay capital gains tax. Vendors Statements (SECTION 32 VENDORS STATEMENTS) What is a Vendors Statement? A Vendors Statement is a document prepared by the person selling a property and must be provided to a prospective purchaser prior to them signing the Contract. A Contract of Sale is not enforceable unless a Vendors Statement has been provided to the purchaser. The function of the Vendors Statement is to inform the purchaser of certain particulars about the property. When a purchaser is deciding whether or not to buy a property, they will be shown a Vendors Statement by the selling agent. The Vendors Statement will include such information relating to rates, zoning, restrictions etc. Who needs a Vendors Statement? Any Vendor accepting a written offer for the sale of a property is required to produce a Vendors Statement. So if you are selling your property, you need to have a Section 32 Vendors Statement prepared. If you intend to sell your property, contact Home Conveyancing Reservoir and we can prepare your Vendor statement promptly.