Before you sign a contract to purchase land or a home you need to nominate the conveyancer or solicitor that you’ll work with. Do your homework and get to know the local conveyancers in Darwin, their fees and services, and establish who you’ll work with prior to signing on the dotted line. If the property is for business or investment purposes it’s worthwhile getting legal and accounting advice as well.
Head to your appointment fully armed with an understanding of your financial position. The sales agent for the property will have provided your conveyancer or solicitor with a signed copy of the contract. If you’re going to be on the property title, you should be present at the appointment to sign the relevant documents, ask questions and understand the process to settlement.
Make sure your contract includes a ‘cooling off period’. Generally this is four days from the date your contract was signed and gives both you and the seller the opportunity to reconsider and withdraw from the agreement without legal or financial implication. We recommend that you also obtain a copy of the survey and contour plans of your block and request the geotechnical report. This details the soil classification on your block and will inform the specifications required for your foundations.
Don’t be afraid to ask questions or the meaning of legal terms. Purchasing land to build your dream can be daunting and overwhelming, and your conveyancer or solicitor is there to help guide you and keep the purchase moving forward and on schedule.