Our decades of experience and committed staff ensure that your property transaction proceeds efficiently as possible.
The Phillips & Wilkins Property Law Team can advise you, your family and associates on the complexities involved in a broad range of property transactions and tailor solutions for you.
Our Property Team can review documents for you before you sign or within 3 days of signing a Contract of Sale to ensure your cooling off rights are protected. You do not have cooling off rights after auction. Contact us for advice beforehand. The cost of such advice is usually incorporated into the overall cost of the transaction.
Phillips & Wilkins provide legal advice tailored to protect your investment and add value to your real estate transactions. Please discuss your proposed matter with us so we can provide a fee arrangement to reflect the value provided by our team. As a guide, our professional fees for a straightforward residential property transaction start at $895.00 plus disbursements (out of pocket expenses) and GST.
We aim to make best use of electronic communications to promote efficiencies and reduce paper waste and we are early adopters of PEXA, the Government and Bank-supported electronic title transfer and registration service that will be compulsory in 2018 – 2019.
Our Property & Conveyancing Team
Have Any Questions?
What is a vendor statement?
When an owner of real estate wants to sell their property, they must provide any prospective buyer with a Vendor Statement. A Vendor Statement (also referred to as a Section 32/s32) discloses all matters affecting the property including the rates and land tax payable, whether the property is in a bushfire zone and what services are connected. Before signing away, speak to Phillips & Wilkins to address your s32 questions.
Can I authorise someone to sign a contract on my behalf?
If you are not the executor of an estate (special rules apply in this situation), you may authorise someone by way of a General Power of Attorney to sign the Contract of Sale. Whilst general by name, it can be limited to the sale of the property and can co-exist with other Powers of Attorney you may have. Planning on taking a trip somewhere on your auction date? Speak to Phillips & Wilkins to have a General Power of Attorney drawn up.
What is verification of identity?
Verification of identity is a relatively new concept in Victoria introduced by the Land Titles Office whereby all parties to a transaction are to have their identity’s verified. To have your identity verified, you must produce items of identification (ie passport, drivers licence, Medicare etcetera) and your representative must then be satisfied you are who you are.
What happens to rates and owners corporations fees at settlement when I sell my property?
At settlement, a statement of adjustments is prepared usually by the Purchaser which provides how the rates, owner’s corporation fees and rental (if applicable) are to be apportioned between the Vendor and Purchaser. As a vendor, any payments made will be accounted and the purchaser will become liable for the remainder of the rating period.
Recent changes to Land Tax law may cause you to pay a penalty of at least 1% of land value $10,000 on a million dollar block. Make sure that any house owned by you for investment purposes is not vacant for longer than 6 months. If your investment property is in an...
The law surrounding property transactions continues to evolve. One recent change is mandatory electronic transactions as of 1 January 2019. Whilst the legal industry is generally resistant to change, Phillips & Wilkins is always exploring the endless possibilities...
Every now and again in this busy and profitable property market we have experienced, a vendor or purchaser or both may be tempted to save money by not renewing insurance in the case of a vendor, or not taking out insurance in the case of a purchaser. The problem is...
Send Us An Enquiry
One of our Property team will contact you for a free chat about your legal requirements.
I wanted to extend my thanks for helping guide us through the process for this very unusual property.
I appreciate all your time spent on this and the speed with which everything has been handled the entire way. A delight to work with you again and I look forward to having you represent us in the future.