Romano Legal Pty Ltd

Solicitors & Conveyancers

 

Conveyancing
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Property conveyancing

Whether you are buying or selling a home or a commercial, industrial or rural property you will need a solicitor to advise you on the process and to safeguard your interests. 

When selling a residential property, you or your agent must have a Contract for Sale before you commence the marketing of the home. We will prepare a contract within 48 hours of receiving your instructions so that the marketing of the home can be initiated without delay.

When buying a home it is essential that your solicitor has the opportunity to inspect the contract before you commit to purchasing the property. Your solicitor will advise you on your rights and liabilities under the contract, the pitfalls you may be exposed to and whatever enquiries need to be undertaken to minimize the exposure.

Your solicitor may also suggest specific enquiries, changes and special conditions to be included in the contract and will negotiate on your behalf with the vendor's solicitor to achieve those changes. This is particularly important before bidding at auction. Once the property is knocked down to you at auction you are deemed contractually bound to complete the purchase. It is then too late to negotiate terms or to discover that the property is gutted with white ants. 

If you are the successful bidder at auction you are committed to complete the purchase. Failure to do so will usually mean you will at least lose the 10% deposit. Therefore you could be exposed to a loss of tens of thousands of dollars. It will cost you nothing to have us peruse the contract before the auction.

If possible, we will even attend the auction with you - and there is no added cost. 

Auction Stress

One of the most stressful events you will encounter when purchasing property is an auction. Whether you are buying or selling, the auction process is stressful. At the fall of the hammer by the auctioneer a contract is enforceable - for both the buyer and the vendor. Whilst it is common practice to have both the buyer (the successful top bidder) and the vendor formalize the agreement by physically signing the contract, this is not essential to validate the contract. So, if you have just bid in excess of your budget or if as vendor you reduced your reserve price too low under pressure, you cannot change your mind after the fall of the hammer.

The auction room or auction site can be quite threatening to the inexperienced. Whilst the auctioneer is conducting proceedings, it is the salesperson's duty to move from one buyer to another “inviting” the buyers to start bidding or increase their bid. The agent is obliged to seek out the best offer for the sellers.

Once bidding slows or stops, the listing salesperson will "invite" the vendors to reduce their reserve price . The sellers have invested a lot of money to achieve the top market price for their home. Agents would be failing in their duty if the top market price is reached and the vendor is not made aware that the bidding is nearly exhausted and they might lose their opportunity to sell. 

With all this activity and all the pressure of the occasion, it is little wonder that you are stressed. You may feel more comfortable if your solicitor accompanied you on the day.

Give me a call and if I can possibly schedule attendance at your auction I will be pleased to do so – at no extra cost.

Professional Advice, Competitive Price

 

Contact   Romano Legal Pty Ltd

Phone:  + 61 2    9569 3177

Postal Address:

 

PO Box A111 

ENFIELD SOUTH  NSW  2133

 

OR        

peter@romanolegal.com.au

Fax:      + 61 2    9550 0245

Office address:   Suite 8, 296 Marrickville Road,         

                                  MARRICKVILLE, NSW, 2204

 

More Information: 

If you need more information, we have brochures on many topics that might answer your questions. You can also register for our quarterly Newsletter, Updates to the Law and Special Offers. See our Feedback & Contact page.  

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Romano Legal Pty Ltd is a member of the Law Society of New South Wales