Cost Disclosure Form - Purchase 

What we will do now?

If a contract and vendors statement review has been requested, we will proceed to review the documents and bring to your attention any pertinent issues - the fees are as stated in the form and the below fees will only apply if we proceed to provide you with full conveyancing services.

Where we are proceeding to administer the contract, we will obtain searches and certificates to ensure all information in the contract and vendors certificate is accurate, liaise with all necessary parties such as agents, solicitors, conveyancers and banks/financiers, prepare necessary documents and arrange for you to sign them, sign transfer on your behalf, prepare statement of adjustments, arrange settlement, notify council and water authority of the change in ownership, and keep you in the loop. 

The scope of work covered by our retainer is limited to the conveyance of the property and not unusual or additional work, for example, contractual disputes, advice about mortgage documentation; advice about ending the contract; preparing a deed of rescission, cancellation or variation, negotiating contractual terms or rearranging settlement. We may be able to assist you with such work, however it will be at an additional cost of $350 per hour (incl GST) unless detailed specifically below. The scope of our retainer specifically excludes the provision of taxation or financial advice.

Fees (GST inclusive)

Standard purchase - $1480

Additional fees if applicable (GST inclusive)

Purchasing as a company or trustee                                                 $300

Purchasing as a foreign resident                                                       $300

Nominating a subsequent/substitute purchaser                                $250

Reviewing and attending to execution of Deed of Variation             $250

Rearranging settlement                                                                     $220

Requesting to vary the terms of the contract (up to 45 mins)            $220

Preparing/reviewing a licence agreement $485

Attending to make payment of GST on the purchase to ATO            $250

Verifying your identity at our office (per attendance)                         $55

Dealing with owner builder/building permit disclosure issues (up $250

to 45 mins)

Dealing with Owners Corporation disclosure issues (up to 45 mins) $250

to 45 mins)

Purchasing with an existing commercial lease $450

Purchasing with an existing residential lease $250

After receipt of contract and upon it becoming unconditional, we will send you a letter of initial advice and enclose an invoice for an instalment of our fees in the amount of $300 plus disbursements. Before settlement, you will receive an invoice setting out the remainder of our fees and disbursements. Our fees will be added to the amount needed at settlement and you authorise us to be paid at settlement.

If your purchase does not settle for any reason, you agree to pay our fees for work done and disbursements incurred by us.

Disbursements

Disbursements are out-of-pocket expenses which we incur on your behalf, including property searches and certificates, postage, and PEXA fees. As disbursement are usually between $200-$400, we estimate you will need to pay $400 in disbursements, not including Owner’s Corporation certificates which cost approximately $170 each. You will only be charged for those disbursements we incur on your behalf.

You have the right to:

·         Ask for an explanation of our fees

·         Negotiate a costs agreement

·         Negotiate the billing method (e.g. timing or task)

·         Request a written progress report of costs incurred

·         Receive a written bill for work done

·         Request an itemised bill

·         Contact your local regulatory authority