Conveyancing: Property Lawyers Central Coast
Property Purchase Contract Review
Legal Guidance for Buyers
Settlement & Documentation Assistance
We'll Look After You
Whether it’s your first time or not, purchasing a property is a significant financial milestone. While the whole process can be fun and exciting, there’s an array of legal work and contracts that need to be reviewed in order to finalise the sale.
At GMS Legal & Conveyancing, our qualified team are here to take care of the hard work for you, simplifying the process to ensure your best interests are protected. Established in 1988, we have served clients from across the Central Coast, including in Lake Macquarie and Toukley. Our goal is to assist in making the settlement process go as smoothly as possible.
What is Conveyancing & Do I Need a Solicitor?
Conveyancing is the legal process of transferring property ownership. A conveyancer’s role is to overlook the entire settlement process for both the buyer and seller.
They are often a solicitor or licensed conveyancer who is highly knowledgeable in property contracts, and are there to help define any legal terms, making sure you completely understand and agree with all terms and conditions within the purchasing contract.
For the buyer, the role of the conveyancer is vital as they can assist with:
- Preparing, clarifying & lodging legal documents including contracts
- Background checks of the property such as certificate of title
- Arranging deposits
- Calculating taxes & rates adjustments
- Keeping track of key dates
- Contacting your bank/financial institution on your behalf
- Representing/negotiating in your best interest
- Family Transfers
We'll Look After You
Many buyers are unaware of the amount of paperwork that comes with purchasing property, which can result in stress and frustration. At GMS Legal & Conveyancing, our conveyancers can be with you every step of the way, offering reliable legal assistance before, during and after the settlement process.
While it’s not legally required to enlist a conveyancer, having a professional review the contents of your contract is in your best interest—as, if something goes wrong during settlement, you could risk losing your deposit. Particularly for first home buyers, having a conveyancer is extremely helpful as they can answer any question you might have about making an offer, and getting a deposit.
Talk with our conveyancing professionals and friendly legal team . If you need help from a trusted property lawyer on the Central Coast, call GMS Legal & Conveyancing.
What Should I Do as a Buyer?
Improve Financial Security With Our Refinancing Services
Refinancing your home loan doesn’t just mean exchanging your current loan for a new one. Most customers who choose to refinance aren’t aware that they’ll be in a better financial position when they transfer their loan to a new bank.
When you refinance with GMS Legal & Conveyancing, our team are dedicated to providing quality advice to achieve your financial goals, whether they are to save money on your loans, go on that trip you’ve always wanted, renovate your home, or buy your dream home or a new car. Whatever your financial goals, big or small, our team is here to help you get there. With us, you’ll also receive support to navigate the transfer to a new bank and ultimately ensure you’ll save money in the process.
Refinancing Your Home Loan
There are several reasons why you might make the choice to refinance your loan. Refinancing isn’t the best option for everyone, and when you consult with our team you’ll get expert advice and recommendations on whether refinancing is right for you.
Refinancing might be beneficial if your current rate isn’t competitive, if you’ve had a significant change in your circumstances, if you need extra funds to make an investment or consolidate debts, or if you want to access your equity more readily. Refinancing can also help you save money as it involves switching to a fixed rate. When you refinance your loan with the help of our expert team, you’ll not only save but also be able to achieve your current and future financial goals.
Important Considerations Before Your Refinance
While refinancing sounds simple on the surface, it’s a process which might subject you to fees. Borrowers can end up spending money on legal fees, stamp duty, early exit, and other potentially hidden expenses. Our team at GMS Legal & Conveyancing will keep you in the know by advising you of any costs that might be involved when you choose to refinance your loan.
The process of refinancing a loan can take several weeks and can be extended if there are delays. With GMS Legal & Conveyancing you’ll be sure all required documentation will be completed correctly and efficiently so that any delays and complications will be kept to a minimum, ultimately ensuring your peace of mind.
Frequently Asked Questions
Why should I consult a property lawyer and conveyancer?
Buying or selling a property is not just a significant financial transaction; it also involves complex legal processes that can impact the success of your investment. A property lawyer and conveyancer provide legal assistance for real estate transactions. They review and interpret the terms and conditions in the contract of sale and handle the transfer of legal title of the property from the seller to the buyer.
Why choose GMS Legal & Conveyancing for your needs?
At GMS Legal & Conveyancing, we have been helping clients on the Central Coast since 1988. From buying or selling property and organising your will to dealing with deceased estates, we can assist you in navigating through various legal processes. Our SAI Global-accredited team will help you understand all the terms and conditions related to your real estate contracts. Contact our team of conveyancing professionals if you seek legal assistance for property-related matters.
What is the cooling-off period, and how does it affect me?
The cooling-off period is an important aspect of property law that gives buyers a certain period during which they can change their minds about a property purchase. This period varies by state but usually lasts 5 business days or more after the contract of sale has been signed. During the cooling-off period, you can decide not to proceed with the purchase for any reason. However, you may pay a termination fee, usually 0.25% of the purchase price.
Remember, the cooling-off period does not apply to properties bought at auction or within three clear business days before or after an auction.
Who notifies the authorities that I have purchased a property?
Your conveyancer or solicitor notifies the relevant authorities of a property purchase. They are responsible for lodging the necessary forms with the Land Titles Office in your state and legally transferring the property into your name, and they also inform the local council, water authority and utility providers of the ownership change. These administrative tasks are important in finalising the property transaction and should be carried out promptly and accurately.
What happens during the settlement process?
The settlement process involves the legal and financial processes for transferring property ownership from the seller to the buyer. This usually takes place six weeks (or 42 days) after the contract has been signed, but the time frame can vary based on the terms of the contract. During the settlement process, your conveyancer will ensure the following:
- All charges on the property have been cleared.
- Any outstanding rates or taxes have been paid.
- The balance of the purchase price is paid to the seller.
Can a property lawyer assist with strata issues?
Yes, a property lawyer can help if you find yourself involved in a strata issue. At GMS Legal & Conveyancing, we offer legal advice for small-scale property issues. Our team offers assistance for matters such as rubbish removal and strata issues. For more information on how we can help you, get in touch with us.
