Cost Disclosure Form - Purchase
What we will do for you
Receipt and review Contract and Section 32; obtain searches and certificates; liase with all necessary parties such as agents, solicitors, conveyancers and banks/financiers; prepare necessary documents and arrange for you to sign them, sign transfer on your behalf; prepare statement of adjustments, arrange settlement, notify council and water authority of the change in ownership; and keep you in the loop.
The scope of work covered by our retainer is limited to the conveyance of the property and not unusual or additional work, for example, contractual disputes, advice about mortgage documentation; advice about ending the contract; preparing a deed of rescission, cancellation or variation or negotiating contractual terms. We may be able to assist you with such work, however it will be at an additional cost of $250 per hour (incl GST). The scope of our retainer specifically excludes the provision of taxation or financial advice.
Our professional fees for a standard purchase are $880.00 (incl GST) plus disbursements.
Before settlement, you will receive an invoice setting out our fees and disbursements. Our fees will be added to the amount needed at settlement and you authorise us to be paid at settlement.
If your purchase does not settle for any reason, you agree to pay our fees for work done and disbursements incurred by us.
Disbursements are out-of-pocket expenses which we incur on your behalf, including property searches and certificates, postage, and PEXA fees. As disbursement are usually between $200-$400, we estimate you will need to pay $400 in disbursements, not including Owner’s Corporation certificates which cost approximately $170 each. You will only be charged for those disbursements we incur on your behalf.
You have the right to:
Ask for an explanation of our fees
Negotiate a costs agreement
Negotiate the billing method (e.g. timing or task)
Request a written progress report of costs incurred
Receive a written bill for work done
Request an itemised bill
Contact your local regulatory authority