Property Law

At Hanna Lawyers our property Solicitors can assist with all of your property needs, working hard to protect your interests at all times.

While a real estate agent can assist you with negotiating terms of sale/purchase, we are able to perform all the relevant checks on a property, negotiate any special conditions and make sure the terms of any Contract are in your best interests. 

We offer legal advice in various areas of property law, including buying or selling a property or a business and commercial or retail leasing. We are also ready to assist you resolve any property dispute conflicts.

We offer fixed fees  for conveyancing, commercial and retail leases and our prices are very competitive amongst other Solicitors – check for yourselves!

Our fixed-fee property services mean that you don’t have to worry about any hidden fees. The quote we provide you at the outset of your matter is inclusive of all legal fees. You are guaranteed excellent service for a fixed price.

FAQ

What is the difference between a Solicitor and a licensed conveyancer?

A conveyancer deals only with the sale and purchase of property. A Solicitor is a legal professional qualified to deal not only in conveyancing but all areas of property law and other areas of law, including litigation and wills and estates. Solicitors are more equipped to deal with complicated or out-of-the-ordinary issues or complex sales. And they can advise you on difficult matters, such as tax implications. If a sale or purchase transaction does not eventuate as planned, then a Solicitor will be able to attend Court and appear on your behalf.

I want to sell my property, what is the first step?

You or your real estate agent will require a contract before you can legally market your property for sale.
So that a contract can be prepared, we will take sale instructions from you before conducting the relevant searches and obtaining the necessary certificates that are required by law to be attached to the contract. Once the contract is prepared we will make it available to you or your real estate agent so the marketing of your property can commence.

I am selling property, what do I have to disclose to the purchaser?

You have obligations to disclose certain matters affecting the property being sold, particularly any encumbrances affecting the property, which will remain in existence after settlement. Encumbrances including easements that grant someone other than the registered owner a right to use and benefit from the land such as stormwater and/or sewerage lines running through the land and whether the property is subject to any tenancies or lease arrangements.
These disclosures will be included in the contract that we prepare for you.

If I am buying a property, when am I locked into a contract?

In NSW, purchasers and vendors can elect to exchange a contract with a 5-business day cooling-off period before the contract becomes binding which allows the purchaser to change their mind and get out of the contract.

The cooling-off period starts as soon as contracts are exchanged and ends at 5pm on the last business day of the cooling-off period. Changes to the contract may be made during this period if they are agreed by both parties.

You are locked into a contract when contracts are exchanged (ie. when the contract is dated) and cooling-off expires.

What is a 66W Certificate?

A section 66w Certificate is a certificate signed for the purchaser, which has the effect of waiving the purchaser’s cooling-off period. The waiving of this cooling-off period makes the contract immediately binding on the purchaser and vendor. Properties purchased at auction automatically have a s66W certificate included – so purchasers beware of your obligations and make sure you have unconditional finance approval before buying at auction!

What happens if I withdraw from a contract to buy a property?

If you use your cooling off rights and withdraw from the contract during the cooling-off period, you are liable to pay the vendor 0.25% of the purchase price.

After contracts have exchanged and cooling off has expired if you wish to withdraw from the purchase, depending on the conditions of the contract, you may be liable to lose your deposit paid (usually 10% or less) plus you can be sued for further damages that the vendor sustains as a result of you failing to complete the contract.

What is a 66W Certificate?

A section 66w Certificate is a certificate signed for the purchaser, which has the effect of waiving the purchaser’s cooling-off period. The waiving of this cooling-off period makes the contract immediately binding on the purchaser and vendor. Properties purchased at auction automatically have a s66W certificate included – so purchasers beware of your obligations and make sure you have unconditional finance approval before buying at auction!

Can a Vendor cancel a contract for sale and decide they no longer which to sell a property?

Once contracts have been exchanged, sellers/vendors are generally bound to complete the agreement. However, if the purchaser has breached the contract a rescission clause in a contract may allow the vendor to cancel the contract. Some reasons for rescinding a contract may include if the purchaser has been unable to pay all of the deposit by the prescribed date or to secure the necessary finance to complete the purchase.

Phone: 02 4228 0084

Office: Level 1, Suite 43,
 26-28 Market Street
 
Wollongong NSW 2500