PROPERTY
Helping clients achieve their property goals isn't new to the Belbridge Hague story
Buying, selling or leasing your home or an investment property? Or maybe checking out a retirement home? We've got you covered. Reach out to us, even if you haven't found the perfect property just yet.
We might be based in Albury, but Victorian property transactions have always been at the core of our property service offering. North or south of the Murray? We've got you.
We recognise that we might do this every day, but you probably don't. You could be purchasing your first home, taking the leap and leasing a commercial property, expanding your strata portfolio or buying the family farm. We have experience with all property types and your transaction matters to us, big or small.
FREQUENTLY ASKED QUESTIONS
SELLING A PROPERTY
If you sold or purchased a property more than a few years ago, then it was probably settled using cheques, hard copy Transfer of Land documents and paper Certificates of Title. Now, we (and all firms) use an Electronic Lodgment Network Operator (ELNO). This is a fancy term that essentially means ‘online settlement portal’. The most widely used ELNO is called PEXA. At settlement, the transfer of land ownership and settlement funds will occur simultaneously on PEXA. Settling via PEXA is faster, cheaper and more secure. If you have any concerns about the security of electronic conveyancing, we’d love to chat and do what we can to put your mind at ease.
The process differs slightly between NSW and Victoria but either way, your first step is to appoint a listing agent if you intend to use one. The next step (regardless of whether you use the services of a real estate agent) is to choose a solicitor or conveyancer to prepare a Vendor Statement (Victoria) or Contract of Sale (NSW) on your behalf. These documents include various disclosure information and your solicitor or conveyancer will know exactly what is required. There are then various steps between contract preparation and settlement including an exchange of contracts and calculating adjustments. Belbridge Hague can handle all of these for you, from the basic paperwork to the messy negotiating that can arise.
As solicitors we are unable to provide you with financial or accounting advice. We can give you some general pointers about what may or may not apply, and can then refer you to an accountant that will be able to provide you with personalised advice.
Absolutely. You can sell a property with the lease in place so that the purchaser becomes the landlord (if the purchaser is willing to do so) or you may be able to end the lease prior to settlement. Your obligations as a landlord will differ depending on whether you have a commercial lease or a residential tenancy agreement. To advise you on exactly where you stand we will need to have a read of your lease paperwork. Get in touch and we’ll work through it together.Â
BUYING A PROPERTY
If you sold or purchased a property more than a few years ago, then it was probably settled using cheques, hard copy Transfer of Land documents and paper Certificates of Title. Now, we (and all firms) use an Electronic Lodgment Network Operator (ELNO). This is a fancy term that essentially means ‘online settlement portal’. The most widely used ELNO is called PEXA. At settlement, the transfer of land ownership and settlement funds will occur simultaneously on PEXA. Settling via PEXA is faster, cheaper and more secure. If you have any concerns about the security of electronic conveyancing, we’d love to chat and do what we can to put your mind at ease.
The first step is to understand your financial position. This may involve seeking financial or accounting advice, and will mean visiting the bank to see if you are in a position to obtain a loan (if you need one). The next step is to find a property that you love, do your due diligence and make an offer. You should seek legal advice BEFORE you sign any paperwork and we can handle it from there.Â
Stamp duty is payable on every purchase contract, unless a specific exemption applies. These differ between NSW and Victoria and also change depending on what the government is willing to offer. If you’re not sure what you are eligible for, send us a message and we can look into it for you.
