Parramatta Conveyancing & Property Lawyers
Most of us will be involved in a property transaction at some stage of our lives, whether that may be renting a house, buying or selling a home, or leasing commercial premises. A property transaction generally has significant financial and legal implications and can impact us in many ways. We have experienced conveyancing lawyers in Parramatta that handle an extensive portfolio of property transactions and related matters. Our clients include first-home buyers, property developers, real estate agents, banks, mortgage brokers and surveyors. We can help with:
- Preparing contracts for the sale or purchase of land
- Contract review and negotiations
- Auctions and off-the-plan sales and purchases
- Commercial and retail leasing
- Assistance for first home buyers – First Home-Owners Grant and Schemes
- Mortgages, refinancing and property deposit bonds
- Property developments
- Property division
Our services are offered at competitive rates, and we deliver them through a highly qualified and experienced team of licensed conveyancers, property lawyers and industry experts in Parramatta and greater NSW.
Buying residential property
Entering an agreement to buy property creates binding legal obligations, so you need to know exactly what you are getting and understand your position before signing and exchanging contracts. Due diligence involves a series of investigations to ensure that the property may be used for its intended purpose, the implications of any easements or other restrictions on the property are understood, and that the structures are sound and compliant. We can explain your rights and responsibilities under the contract, recommend searches and reports to help protect your interests, and guide you through the entire conveyancing process.
Whether you are a new home buyer or a seasoned investor, we will make the conveyancing process as seamless as possible and answer your questions promptly so you can make informed decisions.
Selling residential property
You will need a written contract prepared before offering residential property for sale. In New South Wales, prescribed disclosure documents must be attached to the contract. These include, but may not be limited to, a title search of the property, a plan of the land, drainage diagram and local council planning certificate. If these requirements are not met, a purchaser may have the right to rescind (cancel) the contract.
Vendors must also provide certain warranties about the property they are selling and may need to disclose additional information in the contract. We can explain your obligations as a seller and prepare a compliant contract that is also tailored to your needs. Once a buyer is found, we will liaise with all relevant parties to ensure a smooth settlement.
Parramatta conveyancing for commercial property
Commercial property includes retail outlets, office space, industrial buildings, factories, and warehouses. These transactions typically require special consideration and additional due diligence tailored specifically to the unique features of the property and the parties’ respective objectives.
While the transfer process is similar to that of a residential conveyancing transaction, there will usually be more complex contract terms and additional documents to review and settle. Our Parramatta conveyancing solicitors can help with all aspects of your commercial property transaction.
Business transactions – buying and selling a business
Buying or selling a business requires careful planning to ensure that agreed terms and conditions are properly negotiated and documented in a written contract. Each party should be legally represented. In many cases, we recommend also consulting your accountant. Your professional team can help structure the transaction to provide an optimum outcome and to protect your interests. You may need to consider:
- the structure and apportionment of the purchase price, taking into account goodwill, stock, plant, equipment, and inventory
- Goods and Services Tax (GST) and other taxes such as Capital Gains Tax (CGT)
- the suitability of and transfer arrangements for ancillary agreements such as commercial leases and service contracts
- intellectual property such as business names, trademarks, and domain names and provisions for transferring these assets to the new owner
- employment arrangements for existing employees, transfers, offers, redundancies, and calculation of leave and other entitlements
- restraint of trade and confidentiality provisions
- agreed training periods, representations, and warranties
Mortgages and refinancing
Most people do not have sufficient funds to buy real estate outright and rely on a loan from a financial institution to complete their property purchase. Alternatively, you may be looking at refinancing your current loan with a different lender or changing the type and conditions of your existing loan.
If you are borrowing for property or refinancing an existing loan, you will usually be required to grant a mortgage over the property as part of the loan conditions. A mortgage is essentially a ‘statutory charge’ in favour of the lender. The property is used as security for the money lent and the mortgage is registered on the title of the property. The loan contract gives the lender the right to sell the property in the event of a default.
By signing loan documents and granting a mortgage you are liable for regular payments of principal and interest as well as other charges in accordance with the loan contract. You will also need to meet other obligations such as maintaining the property and taking out adequate insurance cover.
Mortgage and loan documents contain various terms and conditions which should be carefully considered. Our conveyancing lawyers can help whether you are refinancing or borrowing for the first time. We will explain your obligations under the loan contract and ensure you understand your rights.
If you need assistance, contact one of our property and conveyancing lawyers in Parramatta at [email protected] or call (02) 9687 7933 for expert legal advice.