At a glance.
- Seek advice before making a contractual commitment.
- Coordinate title checks, financing and completion requirements.
- Budget for the full transaction cost as well as the purchase price.
Get advice before committing
A booking form or offer can carry obligations. Before signing, discuss the proposed transaction with a conveyancing lawyer and understand the deposit, conditions, completion requirements and consequences if the transaction does not proceed.
Understand the property and title
The title, property type, ownership, restrictions and existing encumbrances affect the transaction. Provide available title information and ask what searches, consents or additional documents are needed for the particular property.
Coordinate the financing
Your bank’s offer, financing conditions and documentation should be considered alongside the sale and purchase terms. Ask about timing, disbursement and any gaps between the financing available and the payment obligations.
Plan the complete transaction cost
The price is only part of the financial commitment. Legal fees, applicable duties, disbursements and other transaction expenses may need to be budgeted for. Ask for a written explanation relevant to your transaction.
Keep completion requirements in view
Timelines, consents, financing and document delivery can affect completion. Maintain communication with your lawyer and provide requested information promptly. Each transaction needs an assessment of its own facts and applicable requirements.
This guide is general information, not individual legal advice. It does not cover every requirement, exception or time limit. Your situation needs a specific assessment of the facts and current law. Contact the firm to discuss an engagement.