Get the right legal advice to protect your property sale
When it’s time to sell your property it’s not always smooth sailing. Not everyone has the same scenario when it comes to selling a house. Motivations for a property sale may be something simple as upsizing for a growing family. Other scenarios may involve an inheritance from a will or a divorce. It’s complicated reasons like this that may require legal advice.
A messy situation like a divorce can make a property sale very difficult. There are many legal concerns to take into consideration. Such as who’s paying for what when it comes to the costs of selling a house. There’s also the challenge of figuring out who will inherit what from the sale of the property.
Many other legal situations that require the advice of a professional. In a lot of cases, a Property Lawyer may be one of the best people you can rely on to help navigate you through a complicated property sale. An experienced Property Lawyer will have a thorough knowledge of state and federal laws that affect what you can and can’t do during a property sale.
What help do I need for a property sale?
There are standard duties that a Property Lawyer or even Conveyancer can assist you with during a property sale. Most of these duties involve reviewing legal documents such as a contract of sale or strata inspection report. There are also many checks to carry out for previously hidden issues such as a fence dispute or illegal building work.
After reviewing all the information about your property, a Property Lawyer may offer valuable legal advice. There may be financial or legal pitfalls you aren’t aware of. Your Lawyer can advise you on the best possible action to safeguard yourself from any financial difficulties. If any legal action is required your Lawyer can also represent you in court. For this scenario, you will have the advantage of legal representation that’s been with you since the very start of the property sale process.
What can go wrong?
From a legal perspective, it’s hard to predict if something will go wrong during your property sale. But what you can do is safeguard yourself from any potential legal issues by hiring a property Lawyer. Legal issues can arise from not drafting up a contract of sale properly. In this contract, many crucial items that need to be included. A Property Lawyer can review a contract of sale and ensure that nothing is missing or worded incorrectly.
Failure to disclose
One of the biggest problems that can arise during a property sale is when you haven’t disclosed something in your contract of sale. When these items are not included, the buyer can rip up the contract and no longer has a legal obligation to continue with the purchase of your property. Essential items for a contract of sale include:
- Proposed developments that may affect the property
- Easement types on the property such sewerage or storm-water
- Registered mortgages on the title of the property
Uncertified building on your property
Any major building or renovation on your house requires the right approval and certification. For example, if you wanted to build an additional bathroom or bedroom on your property it requires council approval. In some cases, property owners get approval from the council without the final certificates being issued. To obtain certification requires paying an application fee which can cost thousands.
In the past, we’ve seen cases where the certification for the building works have not been included in the contract of sale. Unfortunately for the buyer, they do not have the rights to request you obtain them. If a buyer has a good Property Lawyer they will notice this issue straight away and they may avoid signing your contract of sale in the first place. A smart property buyer will be discouraged from having to pay the application fee for getting the building works on your property certified correctly.
Managing your next property purchase
Some property sellers are eager to get rid of their property to buy a new one. This process can be complicated as you need to ensure your finances are in order. A good Property Lawyer will advise you to make the contract of sale for your next home subject to the sale of the property you’re currently trying to sell.
The condition of your property sale protects you from the scenario of your property not being settled. Your Property Lawyer will ensure this condition is worded correctly. You won’t have to be in a position where you buy a new property without selling your existing one and reaching a property settlement.
Protect your property sale with legal advice from P&B Law
Here at P&B Law, we have the right legal professionals to guide you through the process of selling your property. Our Property Lawyers can provide a thorough review of all legal documents required for your property sale. They will ensure your contract of sale covers everything for a smooth and seamless property transaction. Call us today on 1300 526 246 to get legal advice for your next property sale.