Private Sale

From: Anony Mouse


I'm looking to buy a property privately.
Went to REIV for a sec.32 and contract of sale.
They said I could not use their forms as they were copyright and for members only.
Also I want to do the conveyancing to learn the ropes.
I believe there is a kit available.
Does anyone know where to get the forms?
Has anyone done this and what are the hazards/ benefits?

"A government that robs Peter to pay Paul can always count on the support of Paul."
Of course, Paul's support is obvious, but it is equally obvious that to rob from Peter to pay Paul will make Peter
very, very angry.
My question is this: "How can you run a good government with a sore Peter?"
 
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Reply: 1
From: Michael Yardney


Anonymouse
If you don't use the REIV forms you can have a solicitor prepare a contract of sale.
Now I realise that you want to skip the solicitor stage because you want to learn about conveyancing.
A little word for one who's been there and done that...
LEAVE IT TO THE SOLICITOR.
So many things can go wrong and if you do not have sound legal advice you could get yourself into real trouble.
A good solicitor (and I can give you the name of one if you email me)will charge you say $600 plus disbursements.
In my last property transaction my solicitor saved me $20,000 by finding a problem with the title.(true storey)
It's very false economy using a conveyancing company or doing the conveyancing yourself.
It may work the 1st time, but if you buy a few properties you are bound to run into problems. We ran into 2 in the last 6 months.
Solicitors, pre purchase checks, bank fees etc are just part of the cost of doing business.
Michael Yardney
Metropole Properties
 
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Reply: 1.1
From: Sergey Golovin


AM,

Yes you can buy Conveyancing kit, ask your bookstore (Dymocks?) or Law Society in your State.

As Michael said it could be tricky.

Anyway, good luck.

Serge.
 
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Reply: 2
From: Rolf Latham


Hi

I have a little experience of this with my clients, and my comment would be DON'T.

98 % of the time conveyancing is a straight clerical process and suitable for a kit. The other 2 % is when unforeseen issues or problems occur and this is when the Soli becomes INVALUABLE.

The hard part is picking which your sale is in the 98 or the 2 ?

Ta

Rolf
 
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Reply: 2.1
From: Anony Mouse


Thanks guys for the replies,
I've compromised.
I'm going to do all the legwork and a relo, who is a lawyer will do the final checks for me.
Guess what I was after was, had anyone used the kit and what was their experience (with the kit, being a lay person and dealing with professionals who normally do this sort of thing, etc.)
I still need the buying forms, S32, contract of sale as there is no agent involved.

"A government that robs Peter to pay Paul can always count on the support of Paul."
Of course, Paul's support is obvious, but it is equally obvious that to rob from Peter to pay Paul will make Peter
very, very angry.
My question is this: "How can you run a good government with a sore Peter?"
 
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Reply: 3
From: Michael G


Hi,

The first place I always begin a search is pump all the keywords I can think of into a search engine.

Try +conveyancing +kit

You'll be surprised...

Michael G
 
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Reply: 4
From: Kaye Beattie


Anony Mouse

Having just read your post, didn't you say "I'm looking to buy a property privately"?

Why are you getting all these blank pro formas if you are the purchaser?

The vendor has to prepare Section 32's - that's why they are called a 'Vendor's Statement', and the onus is also on them to prepare the contracts. The s32 forms part of the contract.

The last time I 'did my own conveyancing' was in 1984, with a kit from (I think) the Law Reform Association. It cost $30+ at the time, and I had a lot of fun doing it, and learnt heaps. But from an economics point of view, I didn't really save much, and if you have to take time off work, then maybe you won't save much, either.

Look in your local paper, where the conveyancing companies advertise in very large letters the cost of their services. Perhaps you could use this purchase as a 'training run' and do it on your own, next time?

Good luck

Kaye
 
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