Buying Cost Agreement
Buying from $1,400
$1,400 includes the following "Standard Conveyancing Work":
Purchase of established Residential property in NSW upto $1.5 Million*
Additional Fees apply to Old System, Qualified/Limited or Company Title & SubdivisionsLoan Agreement & Mortgage
Additional Fees apply to Collateral Loans/SecuritiesGovernment Inquiries
Sydney Water Rates, Council Rates and Road & Traffic AuthorityFinal Title Search, Settlement Fee, Sundries & GST
How to get started
Complete the online Buying Order Form including a secured online payment of our $220 Retainer Fee1, by VISA or MasterCard
Let the Estate Agent know that Bluwol & Associates is representing you, so that a Contract of Sale is sent to our office
These optional Reports may be ordered by email and will be charged to your Credit Card2 unless paid by EFT.
- Building Inspection Report from $385
- Pest Inspection Report from $275
- Building & Pest Inspection Report from $550
- Survey Report from $990
- Council Building Certificate3 $330
- Company Search $55
- Strata Inspection Report from $330
- Valuation Report $440
- Sewer Location Plan $55
Payment of Reports may also be made by Bank deposit or EFT (electronic funds transfer) to:
Include address of the property you are buying and confirm your order by email to info@bluwol.com
1 The $220 Retainer Fee covers one (1) single instance of each item listed under Paragraphs 1. to 8. of our Standard Conveyancing Work and is subject to additional Fees and Expenses charged when we do Additional Conveyancing Work.
2 The above costs are indicative only; apply to properties within Sydney Metro, and include our service fee.
3 Survey Report required by Council
* A conveyancing loading fee of 0.10% applies to that part of the Price exceeding $1.5 million
Definitions
"Standard Conveyancing Work" Is the work we do in every single conveyancing transaction, (eg. drafting a form of Transfer and stamping the Contract of Sale)
"Additional Conveyancing Work" Outlined below is the extra work we only need to do when certain circumstances apply to your conveyancing transaction
"Additional Fees" are fees charged at $165 per hour + expenses, and apply to items listed under "Additional Conveyancing Work"
Standard Conveyancing Work
Acting on Purchase of established Residential Torrens Title Property In NSW.
The "standard Conveyancing Work" referred to in the Disclosure of Costs document provided to you comprises one (1) single instance of each item listed below, (attended to within a reasonable time based on established conveyancing practice), and may involve all or some of these items, depending on the particular circumstances of your transaction.
Opening Electronic & Hard Files
We examine the information you provided in your Form of Instructions and transfer the information into an electronic file and a hard file.Perusing Real Estate Agent's Sales Advice
The Vendor's Estate Agent's Sales Advice is examined and filedInspecting Vendor's Solicitor's Advice
We peruse the cover letter submitted by the Vendor's Legal Representative accompanying the draft Contract of Sale.Inspecting Contract of Sale
We fully inspect the proposed Contract of Sale, including all terms & conditions, notices, disclosures and prescribed & other documents attached, and we prepare and submit to you a comprehensive Contract Inspection Report Including Advices on the following topics:- Cooling-off Period
- Deposit
- Price & GST
- Exchange of Contracts
- Completion Date
- Damages for Delayed Settlement
- Land Title & Property Description
- Vendor's Legal Capacity
- Standard Terms & Conditions
- Onerous or Unfair Special Conditions
- Specific Disclosures
- Building & Other Structures
- Fixtures & Fittings
- Council's Zoning Certificate
- Standard By-Laws
- Special By-Laws
- Utilities / Services
- Possession
- Land Tax
- Stamp Duty
- First Home Owner Grant
- Finance & Security
- Settlement Adjustments
- Pre-Purchase Inspections
- Easements, Covenants, Rights & Restrictions
- Sewer Location
- Survey Report
- Building Certificate
- Property Enquires
- General Insurance
- Title Insurance
- Foreign Acquisitions
- Tenancy of Title
- Pre-Contractual Representations
- Omissions
- Gazumping
Drafting Letter to Vendor - Proposed Contract Amendments
We send a letter to the Vendor's legal representative requesting the deletion of, or amendments to any Contract Terms & Conditions which in our opinion are onerous or unfair, and requesting any further information which we think appropriate. We attach a copy of this letter to the Contract Inspection Report submitted to you.Perusing your Comments / Queries
We respond to any questions you submit to us by email after you have read our Contract Inspection Report and the letter sent to the Vendor.Perusing Vendor's Reply to Proposed Amendments
We examine the Vendor's response to our request for Contract amendments and any further information requestedAdvising You on Vendor's Reply
We prepare and submit to you a further copy of our letter requesting contract amendments and information, and the replies received, indicating to you which amendments have been agreed to, and which have not, and provide you with any further information received.Amending Contract
We amend the Contract as agreedExecuting Contract & Receiving Deposit
You sign the Contract in our Office and hand to us the Deposit cheque.Making Appointment to Exchange Contracts
We make an appointment the Vendor's legal representative to Exchange Contracts and pay the Deposit or we arrange a postal exchangeExchange of Contracts
If the exchange is in person, we ensure that the terms & conditions and the documents attached to the Contract you have signed are identical to the counterpart Contract signed by the Vendor, and we pay the Deposit and date the Contract. If the exchange is postal, we draft a letter to the Vendor's legal representative, requiring that Contracts be exchanged in identical terms as agreed and that the Vendor's counterpart be promptly returned to us.Preparing Schedule of Key Dates
The exchanged Contract executed by the Vendor is scanned and filed and all important transaction dates and deadlines are entered into our electronic planner so that each necessary task is attended to on time, (eg. duty stamping of Contract and Transfer, service of Transfer and Settlement Date)Drafting Exchange Advice
We draft and submit to you a comprehensive Exchange Advice, informing you on the steps required to complete the transaction and deadlines, including:- Confirmation of Exchange of Contracts
- Cooling-off Period
- Completion Date
- Finance & Security
- Stamp Duty
- First Home Owners Grant
- Possession
- Insurance
- Property Enquires
- Utilities
- Settlement Arrangements
- Pre-Settlement Inspection
- Settlement Date
- Time-table / Deadlines
Requisitions on Title
We draft and serve on the Vendor's legal representative a series of standard questions about the property and the Vendor's legal capacityOrdering Property Enquires
We complete all relevant Application Forms and send them to the following Authorities together with the relevant prescribed fee:- Office of State Revenue - Land Tax Certificate
- Roads & Traffic Authority
- Municipal Council - Rates Certificate
- Sydney Water - Rates Certificate
Form of Transfer
We draft a prescribed form of Transfer of title and execute it on your behalf.Perusing Lender's Advice
We peruse an Advice letter provided by your Lender and file all relevant information, (eg. Loan Reference Number and Amount of Credit)Providing Transaction Particulars to Lender
We send to your Lender, (if requested), copies of the front page of the signed Contract of Sale and the form of Transfer, and advise them the required Settlement DateStamping of Contract & Transfer
We receive your Stamp Duty Bank Cheque and attend to the Office of State Revenue to stamp the Contract of Sale and the form of TransferService of Transfer
The stamped form of Transfer, under a cover letter, is forwarded to the Vendor's legal representativePerusing Replies to Requisitions on Title
We examine the Vendor's replies to our standard Requisitions on TitlePerusing Property Enquiry Certificates
As they are issued and sent to us, we examine and file details of the Certificates received from the Office of State Revenue – Land Tax, the Roads & Traffic Authority, the local Council and from Sydney Water.Inspecting Loan Agreement & Form of Mortgage
The Terms & Conditions of the Loan Agreement and the form of Mortgage, (delivered to us by you or your Lender), are examined and a "Loan & Mortgage Advice" is prepared and submitted to you, including the following topics:- Loan Contract
- Mortgage & Memorandum
- Lender's Insurance Requirements
- Amount of Credit & Costs Disclosed
- Special Requirements or Conditions
Executing Loan Agreement & Mortgage
After explaining to you and discussing your finance and security arrangements in our office, you sign the Loan Agreement and the form of Mortgage and we witness your executionService of Loan Agreement & Mortgage
The executed Loan Agreement and Mortgage, under a cover letter, is forwarded to the LenderPerusing Owners Corporation Certificate
We peruse and file the amount of outstanding levies and other information contained in a Certificate issued by the Owners Corporation and served by the Vendor's legal representative.Drafting Notice to Owners Corporation
We draft, sign and serve on the Vendor's legal representative duplicate Notices to the Owners Corporation notifying the Transfer of titleLender's Settlement Advice
We examine the Lender's confirmation of certification of title and of funds available for settlementSettlement Appointment with Vendor
We make a settlement appointment with the Vendor's legal representativeSettlement Appointment with Lender
We make a settlement appointment with your LenderSettlement Appointment with Settlement Agent
We make a settlement appointment with a city settlement agentSettlement Adjustment Statement
We prepare a Settlement Schedule including the deposit paid and price, paid or unpaid council and water rates and strata levies, and Vendor's discharge fees payable on Settlement Date, and we submit this Statement to the Vendor" legal representative under a cover letter confirming our settlement appointment.Vendor's Direction to Pay
We examine the list of settlement cheques once served by the Vendor's legal representativePreparing Bill of Costs
We prepare an itemised Bill of CostsDrafting Direction to Pay to Lender
We prepare and serve on your Lender a Direction to Pay listing the cheques required for settlementDrafting Pre-Settlement Advice
We draft and submit to you a "Pre-Settlement Advice", (including a copy of the Settlement Schedule and the Bill of Costs), including the following information:- Confirmation of Settlement Date, Time & Venue
- Confirmation of Clear Property Enquires
- Calculation of Settlement Funds
- Details of Settlement Deficit or Surplus Funds
- Pre-Settlement Inspection
Receiving your Settlement Cheque/s
We receive and peruse the Bank Cheque delivered by youDrafting Notice of Sale
We draft a prescribed form of Notice of Sale or Transfer of LandDrafting Order on the Agent
We draft an Order on the Vendor's Estate AgentFinal Title Search
We obtain and examine a Final Title Search of the subject LotSettlement Instructions
We prepare the Settlement Instructions to the city settlement agent including document to be delivered on settlementSettlement Session
The settlement session is attended as scheduled during which:- We examine the Certificate of Title, executed Transfer and Discharge of Mortgage delivered by the Vendor
- We hand to your Lender the above noted documents and our original Direction to Pay, final Title Search and Notice of Sale
- We receive from your Lender and peruse the Bank Cheques required under our Direction to Pay
- We hand the settlement cheques to the Vendor's legal representative
- We receive the Section 118 Notices executed by the Vendor and keep the outstanding rates or levy cheques
Post-Settlement Advice
We contact you to advise you the transaction has been completedPayment of Outstanding Rates
We prepare and forward a copy of the Rates Certificate and the settlement cheque to the local Council, and a copy of the Rates Certificate and the settlement cheque to Sydney WaterNotice & Levies to Owners Corporation
We complete and forward the Section 118 Notice to the Owners Corporation together with the settlement cheque for outstanding levies.Rate Payment Receipts
We peruse and file the Council rate payment receiptOwners Corporation Acknowledgment
We peruse and file the Owners Corporation Receipt of the Section 188 NoticesStoring Hard File
The hard file including all the documentation relevant to this transaction is stored in another location for the prescribed period.
Additional Conveyancing Work
Outlined below is the extra work we only need to do when certain circumstances apply to your conveyancing transaction:
Drafting & Serving Notices, (eg. Notice to Complete or to Perform, Rescission or Termination Notice, Statement of Liquidated Claim)
Old System, Qualified, Limited, Company or Community Title related matters
Proposed Subdivisions; Off-the Plan Sales; "Subject to" Contracts; Options
Rural, Retail, Commercial, Mixed Use or Industrial properties
Drafting Special Conditions or Additional Clauses
Attending to Further Instructions, Advices, Amendments, Reminders, Requisitions, Negotiations or Consultations, (eg. Land Tax Clearance, Variation to Completion Date, Extensions of Cooling-off Period, Possession or Access to Property, Payment or Release of Deposit, Repairs/Building Work)
Tenancy, Lease, Licence or Occupation related matters
Perusing Additional Documentation, (eg. Occupation Certificate, DA, Home Building Insurance)
Collateral Securities, Additional Loan Accounts, or Additional Documents required by Lender
Pursuing Mortgagee (eg. to provide Available Funds or make Settlement Arrangements)
Aborted, extended, simultaneous, delayed or postponed Exchange or Settlement arrangements
STD or IDD calls, Trust account fees, non-ordinary postage, additional copying
First Home Owners Grant, Stamp Duty Concessions, Exemptions or other Applications
Pursuing your Further Instructions, Delivery or Execution of Documents or other necessary action
Drafting Additional Documents, (eg. Power of Attorney, Statutory Declaration, License Agreement)
Drafting, Execution, Stamping or Registration of Dealings, Caveats or other Instruments
Aborted, Rescinded or Terminated Sales
Additional Title Searches, Property Enquires or Certificates as Instructed or Required, (eg. AGL, Council's Outstanding Notices, Heritage, Updated Zoning Certificate, Strata Certificate of Currency)
Attendances to Strata Managing Agent or special strata matters, (eg. By-Laws, Special Levies)
Extended or complex Pre-Contractual Negotiations, (eg. numerous or unfair Special Conditions)
Pursuing Contract Exchange, Service of Documents, Replies to Requests, Settlement Booking
Additional Attendances to Real Estate Agents, Mortgage Brokers or other Parties
Post-Settlement matters, (eg. Rate re-Adjustments, Notices, Claims, Payment of Surplus Funds)
Other work instructed or required to be done, not being "Standard Conveyancing Work"
Additional 'Sundries' are estimated at 10% of the Additional Professional Fees
Building Work
Further Information Required by Law
A Bill of Costs may be rendered at any time, for any work carried out, (partial or completed). If applicable, the amount of a Bill of Costs will be included in our Cheque Direction to your Lender.
If you dispute a Bill of Costs, you have the right to notify the NSW Civil and Administrative Tribunal. The notification must be in writing & lodged with payment of a fee within 60 days of receiving the Bill. The Tribunal may take any action it considers necessary to resolve the dispute. After you have notified the Tribunal and the Tribunal has determined the action to be taken, you may then, upon payment of a prescribed fee, apply to the Tribunal for a determination of the costs dispute
THIS DOCUMENT IS A DISCLOSURE OF COSTS REQUIRED BY LAW AND CONSTITUTES AN OFFER TO PROVIDE OUR SERVICES WHICH MAY BE ACCEPTED BY COMPLETING OUR FORM OF INSTRUCTIONS
ALL PRICES SHOWN IN THIS DOCUMENT INCLUDE GST AND ARE VALID UNTIL 31 MARCH 2020
Warning about Emails, Money Transfers and Internet Crime
Your cyber security is important to us. As you would be aware, email is not a secure means of communication. Please understand and acknowledge the following security procedures we follow as part of your conveyancing transaction to maintain security.
We will NEVER send you an email requesting you transfer funds to an account that is different to the bank account details we advised to you in our original letter of appointment mailed or given to you in person.
If a change is required we will call you first to verbally advise the details and will also email you for dual verification.
Do not transfer any funds without first phoning our office on the phone number shown on our original letter of appointment to verify any changes to banking details.
We will not act on any email from you requesting we transfer funds to a bank account that is different to the bank account details you advised to us in our appointment letter without verifying this with you via mail or telephone using your original contact details provided in our letter of appointment.
