Liberty Legal & Conveyancing

Announcing Liberty Legal & Conveyancing Pty Ltd

2010-02-17T15:20:00.001+11:00

After 5 successful years in the Blue Mountains, Elizabeth Walton has developed “Liberty Conveyancing” into a new “full service” legal practice “Liberty Legal & Conveyancing Pty Ltd”, which commenced trade in December 2009.

Elizabeth and Ashlee Bates will be part of the new legal practice together with Barbara Cuthbert from Lawson and Philip Penman from Sydney, who are both lawyers.

Liberty Conveyancing achieved recognition with 5 business awards in recent years, including the 2009 Blue Mountains Innovation Gazette award, and remains the only conveyancing service in the Mountains to win an award. The outstanding service established in those formative years will continue to flourish and develop with the introduction of new services, and an office in the heart of Sydney’s CBD.

Winners - Blue Mountains Gazette Award - Innovation

2010-02-17T15:01:00.000+11:00

Elizabeth Walton and Ashlee Bates from Liberty Conveyancing were proud to recieve recognition for best practice in Innovation at the 2009 Blue Mountains Business Advantage Awards.

"We are very happy to have our practice acknowledged on again, particularly this year, where competition was hotly contested".

2009 Blue Mountains Business Awards Finalists

2009-10-02T10:12:00.002+10:00

We are pleased to announce that we have made it in to the finals for the 2009 Blue Mountains Business Awards in the following categories:

Ashlee Bates - Employee of the Year
Elizabeth Walton - Employer of the Year
Business to Business Services
Environmental Business Practices
Trades and Services
Customer Service
Innovation

Thanks to everyone for your continued support and looking forward to seeing all the fantastic Blue Mountains Businesses at the gala event in October.

Stepping up - Business Mentoring

2009-08-26T16:24:00.002+10:00

Fantastic to be present at the second Stepping Up Mentoring Program. The suspense was lifted as we all met our mentorees and the mentorees met their mentors.

For me, I am privelaged to be working with Natalie, a beautiful young woman with drive, energy and enthusiasm, who is well and truly already on her path to success.

Most young people would be challenged with the thought of starting a business, or studying at tertiary level, and might one day aspire to join Rotaract to volunteer their time for the benefit of others.

I was impressed to learn that this young individual is already heavily involved in ALL of these activities.

It will be an honour for me to work one-to-one with such a strong and successful person.

One step closer to a paperless world

2009-08-26T16:00:00.000+10:00

The best news comes to those who wait - and we have patiently waited for our local council to produce the masses of documentation we are required to acquire in an electronic format.

We are really, genuinely, ecstatic to annouce today that Council has advised us that we can now recieve our 50+page zoning certificates by email.

This just brings our move to a paperless office one step closer.

It's quaint to contemplate how scribes once coaxed messages out of stone. Our goal to reduce the environmental impact of our work will not rest until the thought of producing a document on paper instead of on screen will seem just as quaint.

Today we are happy in the knowledge we are one step closer. Well done Blue Mountains City Council.

Q: THE HOUSE I WISH TO PURCHASE IS TENANTED BUT I AM A FIRST HOME BUYER

2009-05-02T13:53:00.004+10:00

A: To qualify for the first home owners grant at the time of writing, the purchaser must satisfy residency requirements. At this point in time, the purchaser is require to living in the property for 26 continuous weeks commencing within the first 12 months of ownership.

If the tenant is still present at settlement, you will still be eligible for your grants and stamp duty exemption as long as the tenant vacates reasonably soon and you can commence your initial 26 weeks.

It would be wise to check the tenant's lease prior to exchange of contracts to ensure you will have the right to evict them in time to commence your residency requirements.

As the eligibility criteria are constantly changing, it would be a good idea to check with the Office of State Revenue about your exact circumstances prior to exchange of contracts.

Q: HOW MUCH CAN I SPEND ON MY HOUSE TO QUALIFY FOR A STAMP DUTY EXEMPTION?

2009-05-02T13:34:00.007+10:00

A: The Office of State Revenue provides a stamp duty exemption for houses priced up to $500,000.00.

There is a sliding scale for houses priced between $500,000.00 and $600,000.00. For example, a house that costs $500,001.00 will attract a duty of just $10.00, whereas a house which costs $599,999.00 is liable for over $22,000 in duty, with an exemption of just a few cents.

To calculate the amount of duty you will have to pay, use the Office of State Revenue's First Home Plus calculator.

Q: WHEN WILL THE FIRST HOME OWNERS GRANT END?

2009-05-02T13:06:00.005+10:00

A: At this stage, the Federal Government has indicated its intention to cut the First Home Owners Grant back to previous levels in the Budget. This would mean the grant returns to $7,000.00 for existing homes.

Presuming the New South Wales State Government continues with the stamp duty exemption, this is still quite a good boost. Most first home buyers, however, have to pay Mortgage Insurance on their loan - which can quickly eat up all if not more than the amount of the grant.

This can mean that the cost of getting into your first home is still quite high, which is why the increased grant has been so successful.

Thanks for your question Lucy. You might like to bookmark this page and check back again as we will definitely be posting more information as it comes to hand.

WHEN DO THE CHANGES TO THE FIRST HOME OWNERS GRANT KICK IN?

2008-10-19T10:55:00.013+11:00

A: Hi Chris, that's a great question - in short, we have spent the whole week trying to find out as well. Apparently the Office of State Revenue, who manage the applications at a state-level, are also waiting to discover the answer to this question, as is the Australian Institute of Conveyancers.

We are contacted daily by real estate agents, clients and others within the industry who insist that they, or someone they know, has received a definitive response.

What we can say with certainty is that the Office of State Revenue have promised to announce any further details they receive on their web site, at this link:

Office of State Revenue - First Home Owners Grant updates

PLEASE REMEMBER THIS ADVICE APPLIES TO NEW SOUTH WALES RESIDENTIAL PROPERTY ONLY. TO CONFIRM YOUR PARTICULAR CIRCUMSTANCES, PLEASE CONTACT LIBERTY CONVEYANCING.

Q: THERE IS A TENANT IN THE PROPERTY I WISH TO PURCHASE, BUT I WANT TO MOVE IN

2008-09-17T20:21:00.004+10:00

A: Good question Alex. From what you've told me in conversation, you are in a tricky situation because the tenant's rights to occupy the premises over-ride your rights as a purchasing owner of the property. The tenant cannot be forced to vacate during the term of a valid lease.

Of course the question is whether there is in fact a valid lease. As I understand you have a good case to claim that the lease is NOT valid, on the following grounds:

The dates referred to in the lease are inconsistent, in that the date that the lease ends occurs before the date that the lease starts. Obviously a mere typing error.
The term of the lease (24 months) does not correspond to any of the dates referred to above
The tenant would appear to have breached the lease by being behind in rent
The tenant would appear to have breached the lease by subletting the property to another family without the landlord's consent

As a result, you have a right to appeal to the Rental Tribunal for a hearing as to your rights to evict the tenant. If you prepare your case well, you have a good chance of success.

You would be well advised to proceed as thought the tenant has the right to remain in occupation until the end of the lease, just in case the tribunal hearing goes against you.

In the event that you proceed to purchase, read up on the latest changes to the tenant's rights. Your position could be very different at the end of the lease in 2 years' time. As at today's date, the rules governing how many days notice the tenant is entitled to be given if you would like to move in vary between 14 and 60 days, according to how long the lease has to go before it expires.

Please remember this advice applies to New South Wales Residential property only. To confirm your particular circumstances, please contact Liberty Conveyancing

Q: ANOTHER BUYER WANTS TO BUY THE HOUSE - WHAT IS A RACE TO EXCHANGE?

2008-09-16T21:01:00.007+10:00

A: It's a common scenario - you've found the house you HAVE to HAVE.... it's perfect in every sense. The aspect is right, the kitchen and bathroom too, the colour scheme is right, and that critical factor, the price, well, it's right - of course!.

Before you can secure the purchase, someone else has decided it's just right for them as well. They've offered the same price, the same settlement terms, and they are at just the same phase of preparation as you. The agent utters those gut-wrenching words, "it's a race to exchange".

If you're lucky, you will be able to contact your conveyancer then and there, and if you're even luckier, they'll drop everything and give you all the attention you're going to need to get you across the line before the other buyer.

Getting you across the line, specifically, means you have received:-

a formal loan approval for the property
a building inspection and a pest inspection and are satisfied with the results
legal advice from your conveyancer on the Contract for Sale of Land
advice from the local council regarding any issues regarding the land
your deposit - either in the form of a 10% deposit cheque or a Deposit Bond

That's quite a list. A good conveyancer will understand the urgency of your circumstances and instruct all staff to drop whatever they are doing and pitch in to get you across the line. It might sound like an extreme measure - but that's the sort of effort that will mean you are the one standing on the front porch watching the sun set in a few week's time, and not the other guy.

When the agent says it's a race to exchange it will put enormous pressure on you, your family, and your team. If it's the property you just have to have, there is no other way around the race, but to get in, and.... race!

Please remember this advice applies to New South Wales Residential property only. To confirm your particular circumstances, please contact Liberty Conveyancing

Q: I'VE BEEN ASKED TO PAY A 0.25% DEPOSIT. WHY?

2008-09-14T17:08:00.017+10:00

A: Property is sold in New South Wales either WITH or WITHOUT a cooling off period. If you've been asked to pay a 0.25% deposit, you are being asked to purchase with a cooling off period. This is called anti-gazumping legislation. Why?

The Vendor's perspective... When a Buyer makes an offer it is no guarantee that they will purchase the property. You are keen to see the Buyer is serious. Your marketing campaign will lose momentum if the property is taken off the market while the Buyer conducts building and pest inspections and finalises their mortgage arrangements. It will be costly and time consuming to revive the campaign if the Buyer doesn't proceed. A "cooling off period" gives you the right to keep 0.25% of the agreed price as compensation if the purchaser pulls out of the deal in the first few days after seeing the property.

The Purchaser's perspective... When a Vendor accepts your offer it is no guarantee that they will sell you the property. You want to secure the property, especially since you are spending good money on building and pest inspections and loan applications. You will be in even more of a hurry if there is simply no other property on the market that can match your unique list of requirements as closely as this property can. The Vendor can withdraw the property from market at ANY TIME prior to Exchange of Contracts. They can also accept higher offers, even after your offer has been accepted.

How does it work?
Shortly after the offer is accepted,

The Vendor signs the Contract for the Sale of Land
The Purchaser signs the Contract for the Sale of Land
The Purchaser pays 0.25% of the agreed price to the agent
The Contracts are dated (sometimes the sales agent will do this)

BE WARNED: If the Purchaser does not withdraw from the Contract in the first 5 days, they must buy the house.

Please remember this advice applies to New South Wales Residential property only. To confirm your particular circumstances, please contact Liberty Conveyancing

Q:I'VE PAID 10% DEPOSIT INTO THE AGENT'S TRUST ACCOUNT BUT THE AGENT IS STILL SHOWING THE HOUSE

2008-09-14T13:48:00.009+10:00

A: Hi John, it's a good question and it's one we've heard countless times. Don't panic - this is perfectly legitimate.

All offers to purchase or sell are merely preliminary negotiations. Paying a deposit for the property is an act of good faith, but it will not take the property off the market.

The Vendor is still entitled to show the property for sale until the Contracts for Sale of Land are formally exchanged. At Law you are not entitled to rely on any other guarantee, promise, or "handshake" whatsoever.

Many Vendors will offer to hold the property for you for a week or so, and will stand by their word. The idea is to give you a fair go at doing your building inspections in the confidence that the Vendor has stopped negotiating with other buyers. But the point is, there is no sale at all until the Contracts are exchanged. The rest is mere "maybe....".

If you, as a purchaser, decide on a whim not to proceed prior to exchange of contracts, you will generally be able to have your deposit returned by the agent.

Please remember this advice applies to New South Wales Residential property only. To confirm your particular circumstances, please contact Liberty Conveyancing

Q: WHAT DO I DO WHEN I'VE FOUND A HOUSE I LIKE?

2008-09-02T20:19:00.008+10:00

A: The first steps for first home buyers are always bewlindering. There is an overwhelming amount of information to absorb, and we are glad to see that questions as to the first few steps are being raised here.

We recommend that the first step you take is a visit to your lender. The amount of money you can borrow will dictate the area in which you can purchase, and the price bracket within which to commence your search. The lender should also be able to process a pre-approval for you, which will confirm that you are in a position to take out a loand for the next few months. It can be quite a lengthy process, so we would recommend that you tackle this step as early in the process as possible.

Once the pre-approval is in place, it's time to start searching for a property. Do your homework and search thoroughly for the house that best suits your needs, and make an offer based on recent sales data. You can check recent sales data by purchasing property magazines, or by checking sites such a RP Data, which can give you some basic information for free. Other more detailed information is avaiable for a fee.

Make an appointment to visit the property, and make an offer to the real estate agent, as to how much you would like to pay for the property. The agent is required by NSW Law to relay your offer to the owner. Once the owner and yourself have agreed to a price, you will need to appoint a conveyancer to undertake your legal work.

You will need to book pre-purchase inspections at this stage, which your conveyancer should be able to help with.

The steps outlined here will vary slightly if you are purchasing at an auction or purchasing with a cooling off period.

Please remember this advice applies to New South Wales Residential property only. To confirm your particular circumstances, please contact Liberty Conveyancing

Q: DO I NEED A CONTRACT TO SELL MY COMMERCIAL PREMISES?

2008-08-23T18:28:00.016+10:00

A: Real Estate law is focused on consumer protection. Therefore, it is against the law to advertise a residential property without a contract - even for an agent to say a property is coming up for sale in your street prior to the contract being drafted is a breach of the legislation. When it comes to Commercial Property, however, it is considered that commercial buyers are more experienced in their dealings and are less inclined to require the presence of the law to protect their interests. Therefore, the consumer protection measures do not extend to commercially zoned properties. Your commercial property can therefore be marketed by your agent WITHOUT a Contract for Sale of Land, which can be prepared once the terms have been negotiated with your purchaser.

The legal answer to your question, however, is different to the practical and sensible answer. Once you have finalised negotations you would be well advised to lock the deal in as quickly as possible. A delay in drafting complex legal clauses would be very frustrating at that touchy phase of the transaction. It would be prudent, therefore, to instruct your legal team at the outset, and give yourself the opportunity to structure your marketing campaign around sound legal advice.

For example, if you would like to advertise that your restaurant seats 100 guests and an additional 25 on the pavement, you will be well advised to ensure your legal right to use the pavement is in place, in order to prevent a misrepresentation claim.

Please remember this advice applies to New South Wales Residential property only. To confirm your particular circumstances, please contact Liberty Conveyancing

Q: DO I OWN THE WATER ON MY RURAL LAND?

2008-08-23T17:48:00.015+10:00

A: If you purchase land which has a water course, a dam, a creek or a river - or even a water bore, and you want to be sure you have a right to use that water, then your legal team will need to check that a valid water access license is signed over to you. The Water Access License will govern your rights to use the water - and remember, a previous owner may have already sold the water rights. DIPNR is the department which governs Water Access Licenses in New South Wales.

Click here to Read the DIPNR Fact Sheet

Please remember this advice applies to New South Wales Residential property only. To confirm your particular circumstances, please contact Liberty Conveyancing

Q: DO I NEED A CONVEYANCER FOR MY RETIREMENT VILLAGE PURCHASE?

2008-08-22T21:22:00.005+10:00

A: Retirement village purchases are different from purchase of land transactions, in that they are generally long leases, rather than actual "purchase" transactions.

A special act of parliament governs the stamp duty payable in such matters, which is generally much lower than ordinary purchases - and at times even totally exempted from duties.

This can represent a large saving when time comes to sell the family home, and move into more manageable accommodation.

Your legal team can handle the sale of house transaction, and they can also manage the complex retirement village documentation, to ensure that everything you negotiated in the purchase bid is reflected in the contract - especially the finishes you select, such as air conditioning, special security arrangements, and colour schemes.

Q: WHO APPLIES FOR THE FIRST HOME OWNERS GRANT?

2008-02-19T22:15:00.003+11:00

A: Generally speaking, the lender applies for the First Home Owners Grant ($7,000.00). It is paid by the Federal Government at settlement.
And generally speaking once again, your legal representative applies for the Stamp Duty Exemption on the Contract and on the Mortgage.
If you are not obtaining a mortgage, then you or your legal representative can apply for the $7,000.00 grant to be paid a few weeks after settlement.

Please remember this advice applies to New South Wales Residential property only. To confirm your particular circumstances, please contact Liberty Conveyancing

ASK LIBERTY CONVEYANCING YOUR QUESTION

2008-02-19T21:57:00.009+11:00

ASK YOUR PROPERTY LAW QUESTION

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A box will apear on the right, inviting you to "leave your comments", where you can type your question. At the bottom, if you are unsure which option to click, choose "anonymous".

In a few moments, your question will appear on the site.

CLICK THE WORD "COMMENTS":