WHAT IS A SECTION 32 VENDOR'S STATEMENT?
A Vendor's Statement (also referred to as a Section 32 Statement) is a document that informs the buyer about the property they are about to purchase.
WHAT IS A CAVEAT AND DO I NEED ONE?
A caveat is an official way of noting your interest in the property as a Purchaser, prior to the transfer of ownership to yourself having occurred.
Once your caveat has been lodged at the Land Titles Office it will appear on the Certificate of Title before settlement occurs.
For example, the vendor cannot use the property to raise further finance, or sell to anyone else, whilst you hold a caveat on the Title.
WHAT IS TITLE INSURANCE?
At Alcore we give you the option purchasing Title Insurance.
We have taken the time to look over price and quality of Title Insurance policies provided by "First Title" and see fit to refer our clients to their services.
Alcore receives no kickbacks or commission by referring clients to First Title and you are most welcome to do your own research and apply for insurance with a company that suits your needs. As with any insurance it is a personal decision whether or not to insure yourself and your property and by no means are you obligated to do so.
To take a look at the benefits of First Title's Title Insurance policies please visit their website.
To visit the "First Title" website click here
For a comprehensive list of what First Title insurance covers you for click here
It is helpful to note that First Title Insurance is a one-off fee that could save you thousands of dollars in the future.
WHEN DO I PAY ALCORE?
We do not request any upfront payment and our costs and disbursements are payable at settlement.
CAN I GET THE DEPOSIT RELEASED EARLY?
It is possible to obtain the deposit prior to settlement provided certain conditions are met.
To apply for early release of deposit there must be an unconditional Contract of Sale.
Once this has been confirmed we automatically generate a Section 27 statement. This refers to Section 27 of the Sale of Land Act 1962.
If you receive a bill in the mail and you are not sure whether or not to pay it simply send us a copy and we will check whether or not payment is required prior to settlement.
All rates are adjusted between the Vendor and Purchaser prior to settlement.
Conveyancer's notify the Water Authority, Council and Owners Corporation of the change of ownership.
Other services such as Electricity, Gas and Telephone are left to the client as these service providers will only take instructions to connect/disconnect their services from the client themselves.