Sale & Purchase of Property

Real estate sale and purchase transactions may be undertaken by the buyer or seller regularly or infrequently. The substantial value associated with property can require consideration of issues other than the conveyancing steps of the transaction. The impact of taxation (capital gains tax, income tax, GST and stamp duties) also need to be considered.

Practice area overview

Real estate sale and purchase transactions can vary in complexity from residential transactions to non-residential (commercial/industrial), by auction or private treaty for all types of real estate (freehold, leasehold, strata, community title and company titles).

What we do

We advise buyers and sellers. We do more than prepare and review real estate sale and purchase contracts.

For sellers:

• Informing you of the steps you must take to prepare the property for sale.
• Preparing the land sale contract to deal with relevant issues and protect your position (as the seller) in compliance with relevant legal requirements.
• Giving you good, practical advice on the land sale contract and any changes that the buyer may want to be made to it.
• Assisting you in negotiations with the buyer and guide you through the transaction to a successful completion.

For buyers:

• Sending you a comprehensive explanation of the land sale contract prepared by the seller.
• Explaining the nature of the legal interest you will acquire and your related rights and obligations which can be complex in strata and community title developments.
• Reviewing the land sale contract prepared by the seller taking into account relevant legal requirements and your instructions.
• Providing you with an analysis of any ‘encumbrances’ on the title to the property including any leases or easements.
• Giving you good, practical advice on the land sale contract and changes that may needed to it (to protect your interest as the buyer).
• Assisting in negotiations with the seller and guiding you through the transaction to its successful completion.

 

Options to purchase property

Correct documenting, and the precise exercise, of options are vital to ensure their effective use. An ‘option’ over real estate (or any other asset) can have significant value. It can enable the option holder to choose the best time to implement the purchase transaction.

To help we:

• Draft and negotiate effective ‘put’ and/or ‘call’ option documents for (residential and non-residential) property acquisitions.
• Advise you on applicable stamp duties.
• Assist you to ensure that you exercise your option effectively.