When to engage conveyancer

[organix]

Hi I'm looking at bidding at an auction tomorrow, however I haven't engaged a conveyancer to look at the contract yet. I've looked at the contract though and it looks ok (but I guess what would I know..)

The reason that we haven't engaged one yet is my partner said his dad could look at it as he's looked at many before but he hasn't had the time to read it!

Another reason is that there are potentially many houses that we would be interested in buying if it was at a good price and am I right in assuming that we would have to pay a fee for a conveyancer to look at the contract for each property? Or are there conveyancers who would be happy to look at as many as you wanted as long as you went with them when you finally buy a property, and pay one flat fee?

Do people generally engage a conveyancer prior to bidding at auctions? I know it is probably more sensible to do so but if one is interested in many properties it would hurt the bank to keep paying a fee.

Sorry for all the questions, I'm a first home buyer!

 

[allsuccess]

If I'm serious on bidding at an auction, I would definitely get it checked prior.

Solicitors/conveyencers usually review the contract (at least 1 or 2) if you are going with them with the purchase.

 

[Peter_Tersteeg]

I'd generally recommend getting a conveyancer to look over a property prior to an auction (mind you my sister didn't take this advice for tomorrows auction either).

If you're purchasing via private sale, in most states you've got a cooling off period in which you can do this, but you don't have this luxury at an auction.

Many conveyancers will run through a few S32s for your prior to auction, but at some point they'd probably start charging.

 

[Jamie M]

If I'm serious on bidding at an auction, I would definitely get it checked prior.

+1

It's a small outlay for a potentially large purchase...and you don't have any get out clauses at auction.

Cheers

Jamie

 

[knightm]

Hi I'm looking at bidding at an auction tomorrow, however I haven't engaged a conveyancer to look at the contract yet. I've looked at the contract though and it looks ok (but I guess what would I know..)

Yes, definitely get it looked at. You also need to seek the services of a good broker to know what bid you need to stop at! Auction contracts are usually unconditional meaning you are locked in. Peter T and Jamie M are two of the best you are likely to find.

 

[Terry_w]

You are about to potentially enter into a large financial transaction without legal advice. If there is something not in your favour then you will be locked in. If there is something you should have included in the contract to protect you then it will be too late.

 

[Big Will]

Some businesses will actually check the ones you are serious with but you have to use them if you are successful.

I had someone check one and was successful after one lol.