Tuesday, October 21, 2014

What is this new contract?

The Law Society and the Real Estate Institute of NSW will issue a new edition of the Contract for Sale and Purchase of Land late in 2014. There will be a transition, the 2005 Edition of the Contract for Sale of Land will be available until at least 31 December 2015.

What has been changed?
This PDF file has a summary of the main changes:

Contract for the Sale and Purchase of Land 2014 Edition
lawsociety.com.au/cs/../internetcontent/907643.pdf

Also of interest is this page:
lawsociety.com.au/resources/areasoflaw/propertylaw/index.htm

Thursday, September 25, 2014

Questions and Answers

Questions we are asked (but not frequently).

Are you a member of the AIC?

No. The AIC is an association of specialist conveyancers.
aicnational.com.au/about/what-is-a-cpc
Luchetti & Co Solicitors is a law firm specialising in Conveyancing AND Wills & Estates.
The firm is a member of The Law Society, the representative body for solicitors in NSW. They serve solicitors and the community and promote the fair practise of law.

What's the maximum I can expect to pay in fees and charges and what services are included in those fees?

Fees are the easy part to the question. We set a fixed fee and 9 times out of 10 we do not need to add anything more to cover other work that "had to happen" in the conveyance.
The service performed are detailed on this page:
luchetti.com.au/home_1.html for buying a home and here:
luchetti.com.au/strata_title_9.html for purchasing a strata title unit.

Charges are another thing entirely and depends on the building and what expert reports you may need to have to make sure that the property is what it seems to be. For example we have seen people pay $400 for a building report and then after reading it say no to that property and move on to look at something else.

What will any additional services cost / government fees and charges?

If you are purchasing you need to consider the Stamp Duty on the purchase. See:
osr.nsw.gov.au/erevenue/calculators/landsalesimple
Most of the other costs and charges are searches of various government departments and depend on the location of the property.

Would it be possible to contact you over a weekend to review a contract if I find a property?
This is usually unnecessary. If an agent is rushing you into a decision you need support to tell that agent to be patient, realistic and truthful. Remember that the amount an agent is paid to sell a property greatly exceeds what you pay a conveyancer, so get them to work for that money.

Thursday, September 18, 2014

Online planning tools

NSW Government has a suite of new online planning tools which should make the planning system faster and simpler to use for families, businesses and local councils.

See:
planning.nsw.gov.au/LatestNews/../Smarter-Planning-for-the-21st-Century

    The new ePlanning tools include:
  • Planning Viewer – to show the planning rules that apply to properties in NSW where a standard Local Environmental Plan has been adopted;
  • Interactive buildings – users can click on an interactive 3D image model of a standard home, commercial or industrial property and understand in plain English what development standards apply and what work can be undertaken as exempt development; and
  • Local Insights – to see a range of useful planning related statistics and projections at a council level and the location of current development applications where available, from mobile devices, tablets or computers.