SMSF experienced Solicitor/ Conveyancer NSW purchase

[Lawry]

We're in the process of updating our SMSF to be able to borrow to buy resi IP, setting up Corporate Trustee, revised Trust Deed (to allow borrowing), Bare Trust to hold property in, etc.

Looking for any recommendations pls for a solicitor or conveyancer with expertise in assisting SMSF to buy property with knowledge of the potential issues associated with contracts, getting the paperwork and stamps all correct.

We're in Melbourne, but will likely buy in NSW.

Thanks in advance

 

[mgl1100]

There is no particular science to dealing with a SMSF purchaser, as opposed to a normal (individual/company) purchaser. So you could use anyone, really.

The complicated issues really are for the accountant who sets up the SMSF.

 

[Shahin_Afarin]

Elisa Western - Step by Step Conveyancing

 

[Lawry]

Thanks for the responses. Have heard stories about paying double stamp duty and problems not revealed until you want to sell or pass title from bare trust to smsf so we're just wanting someone who knows the ropes. Will follow up the recommendation.cheers

 

[Terry_w]

Thanks for the responses. Have heard stories about paying double stamp duty and problems not revealed until you want to sell or pass title from bare trust to smsf so we're just wanting someone who knows the ropes. Will follow up the recommendation.cheers

Yes, this is the case. You need to present evidence to the OSR and (in NSW anyway) get the custodian deed stamped at the time of the purchase, otherwise when transferred from the custodian to the SMSF trustee stamp duty may be payable at full market rates.

 

[Mr. Fabulous]

Hi Lawry, there is a firm in South Melbourne - DBA Lawyers, who specialise in SMSF. I haven't worked with them personally, but have been a keen follower of them for a while now. They have a good reputation in the industry.

Their contact details are: http://www.dbalawyers.com.au/contact/