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Legal Tips and Advice from Dott & Crossitt Conveyancers

Category: Uncategorized

Jared Zak

What is Title Insurance?

You might have heard your solicitor at some point in the conveyancing process mention the idea of purchasing a policy of ‘title insurance’. This is not building and/or contents insurance. Title Insurance is an insurance product which covers certain of the ‘gaps’ in the conveyancing process that may prevent you

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Jared Zak

Understanding town-planning jargon

  We have experienced, in the last 6 months, buyers undertaking a deeper level of due diligence on properties, particularly as to how the building was constructed and the way in which its construction was originally approved. This may be due to the less frenetic pace in which transactions are

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Jared Zak

What is ‘electronic conveyancing’?

The term ‘electronic conveyancing’ does not mean the use of digital signatures on contracts or the use of artificial intelligence to regulate and advise on your legal obligations under a contract for sale (although it may well do soon!). For now, electronic conveyancing refers to the manner in which financial

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Jared Zak

Lessons from Opal

In the last couple of weeks, residents of Sydney Olympic Park’s Opal Tower have been evacuated because of fears that the building is structurally unsound and may collapse. While residents are now being told by the builder (a Japanese company called ‘Icon’) that it is safe to re-occupy, people’s confidence

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Jared Zak

Major changes to NSW stamp duty regime

Those who have had to pay stamp duty or who work in property may be aware that stamp duty, like income tax, is charged according to fixed brackets (see diagram below). However, those brackets have not been changed since 1986. Back then the median house price in Sydney was $100,000

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Jared Zak

Double Commission: What is the Law?

In a fiercely-competitive market for listings, this can often happen: A vendor signs an exclusive agency agreement with one agent (the first agent), who introduces a buyer to the property; No immediate offer and acceptance between the buyer and seller happens; The vendor terminates the exclusive agency agreement with the

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Jared Zak

Put & Call Options: 6 tips to managing risks for vendors

Developers often use ‘put and call options’ when buying residential lots as an alternative to traditional contracts with long-dated settlements. The motivation for them doing this is usually just to defer payment of stamp duty while they progress their development application. However there are risks for vendors that you need

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Jared Zak

PEXA hit with conveyancing fraud

  Although there has been a number of frauds in conveyancing transactions over recent years, an incident involving a former MasterChef contestant hit the headlines over the weekend and has caused a panic in the conveyancing and real estate industry. Apart from the celebrity aspect, the other thing about this

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Jared Zak

Release of Deposit Clauses – What are the Risks?

Introduction ‘Release of deposit clauses’ are becoming increasing common in property transactions today. A  release of deposit clause allows a vendor of a property to have ‘early access’ to the 10% deposit prior to settlement. This is usually to enable the vendor to, in turn, put a deposit down on

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