buying & selling

Buying a property

This could be one of the most expensive and important decisions you may make in your life. We can help you make it right the first time. Our pre-purchase advice can assist you in your buying decision. It can provide you with the knowledge and comfort to make this a smooth and stress free transaction as far as possible. We can guide you through the buying process and complete all necessary paperwork and inquiries from the time you sign the contract right through to the time you collect your keys at settlement.

We work with your Bank /Lender to ensure that all finance matters are in place for settlement. Our goal is to make buying your property as seamless and trouble free as possible.

Pre-purchase advice

Contracts and vendors statements (section 32 disclosure statements) can sometimes be confusing. Did you know that if you buy at auction or 3 days before or 3 days after an auction, you are unable to change your mind, if you have second thoughts about your purchase?

Russo & Russo can provide a simple explanation and provide written advice before you sign the contract so you make a fully informed decision before you purchase.

First home buyer

This can be an exciting but confusing time for first home buyers. Russo & Russo can assist you in obtaining the maximum allowable benefits, including stamp duty reductions, first home ownership grants, principal place of residence benefits available to you.

Selling a property

The Real Estate Agent’s role is to market and sell your property. Russo & Russo’s role, as your Solicitor/Conveyancer, is to prepare a professional and accurate Contract of Sale and section 32 (Disclosure Statement) for your Agent, so that you are protected. This will minimise the possibility of a purchaser avoiding the contract before settlement.

Once the contract is signed, we will attend to arranging the discharge of mortgage, making sure the rates, taxes and items are adjusted correctly as at the date of settlement and that the money is paid as you instruct.

Off the plan purchases

An “off the plan” (“OTP”) purchase refers to a property that is purchased before it is actually built. OTP contracts can sometimes take up to 4 years or more to complete.

The Special Conditions on these contracts can be confusing and often favour the vendor. We can provide a simple explanation so that you are fully aware of the pitfalls of long term OTP contracts. We can also negotiate to remove or change Special Conditions to make the contract fairer for you.

Our pre-purchase advice is available to you and is strongly recommended before you commit to your purchase.

Transfers

Sometimes transfers of property may take place other than by selling or buying. We can assist you should the following circumstances arise.

Survivorship Applications: if a joint owner dies, the surviving owner should be registered as the surviving owner.

Transfers between spouses or domestic partners: You may want to include your partner on the title to your property for tax, business or personal reasons.

Transfers under a Will (Probate) or Letters of Administration: these refer to transfers made of property owned by a deceased person.

Discharge of mortgage

Refinancing: Many property owners have a loan from a bank secured on their property (mortgage loan). If you are refinancing a mortgage loan we can work with your bank to clear the loan and arrange to refinance the loan with your new lender.

Paying out a loan: Once you have paid your loan out in full, it is still necessary to discharge the mortgage on your title. This ensures your property title is cleared of the mortgage and is registered in your name without the mortgage appearing on the title. This is known as a clear title. We can arrange this process together with you and your bank.

Lodging a caveat

If you purchase a property you need to be protected from anyone else claiming an interest in the property. A “caveat” is a document registered on a property title alerting anyone who attempts to deal with the property, that you have a signed a contract to buy that property.

If you do not have a caveat registered on the Title, someone else, unaware of your purchase, may lodge a caveat and they may take priority over your claim. We strongly recommend that we lodge a caveat on your behalf as soon as possible after the contract is signed.

Sub-dividing a property

This refers to the sub-dividing (splitting) of a property into separate lots for which the “Parent Title” is split into separate Titles. We can assist in the sub-division process and work with your surveyor and relevant authorities to complete this process.