Our fixed fee
Our costs structure is quite different, we charge on the basis of services provided, rather than a
commission
triggered by a sale.
The result is a pressure-free sale with no
conflicting interests
and lower costs.
Our fixed fee
We charge a set fee of $4,400 (incl. GST) for the services we provide for a standard real estate sale over a period of three months.
Our fee also covers the cost of signage, document preparation and internet advertising for the property (for full
details of what our fee includes, see "
What is Included" below).
Why is our fee so low?
It is all a matter of our costs structure. While an
estate agent
charges a percentage
commission that is payable in the event of a sale, we charge a fee on the basis of the services we actually provide.
When is our fee payable?
You will be liable for the costs of our services as each stage of the transaction is completed. You will be invoiced for the first half of our fee when we have prepared your sale documents and set up your sale campaign. You will be invoiced for the second half of our fee after your sale, with payment made by way of a cheque drawn at settlement.
If the property is taken off the market, you will be charged for the services provided up to that point.
Where a property is taken off the market we cap our fees (see "What if the sale is cancelled?" below).
What is included?
The normal requirements for the sale of any residential property are included
in our sale package:
| 1. |
Preliminary legal advice on all aspects of pre-sale disclosure, sale procedure, contract matters, conveyancing and general legal matters relating to real estate. |
| 2. |
Advice and guidance on the law relating to advertising (misleading and deceptive conduct etc.). |
| 3. |
High quality digital photographs provided by an independent, professional real estate photographer. And on-going legal advice as to appropriate use of images and descriptions according to the law. |
| 4. |
Photography and selection of photographs for use on the internet and on our window display card. Digital images available to the client upon request. |
| 5. |
Professional installation and removal of the "For Sale" sign at the property by fully insured contractors. |
| 6. |
A window display card. |
| 7. |
Hand-outs for prospective purchasers, to inform them about our sale procedure. |
| 8. |
Listing of property on www.realestate.com.au and www.domain.com.au |
| 9. |
Upgrading of internet listing to high-profile "Feature Listing". |
| 10. |
Preparation and uploading of internet listing. |
| 11. |
PDF digital Contract of Sale and Section 32 Vendor's Statement for downloading from internet. |
| 12. |
Uploading and maintenance of PDF digital contract on the Lawyers Real Estate website for internet access by prospective purchasers. |
| 13. |
Legal advice on Sale of Land Act disclosure obligations, and advice as to the appropriate inclusions in Section 32 Vendor's Statement. |
| 14. |
Preparation of Section 32 Vendor's Statement. |
| 15. |
Preparation of full Contract of Sale of Real Estate, incorporating Section 32 Vendor's Statement. |
| 16. |
After-hours contact for clients or purchasers requiring information or legal advice regarding properties for sale - 7 days. |
| 17. |
Negotiation of sale by an experienced and legally qualified lawyer; including price and contract conditions, and consideration of any
special conditions that may be required. |
| 18. |
Formal execution of Contract of Sale of Real Estate, including drafting of any special
terms or conditions. |
| 19. |
Collection and holding in trust of deposit funds. |
| 20. |
Preparation of Section 27 deposit release statement and formal service of same on purchaser. |
| 21. |
Service of formal request on mortgagee pursuant to the Consumer Credit Code for mortgage payout details in preparation for settlement. |
| 22. |
Arranging for the discharge of any existing mortgages or caveats over
the property. |
| 23 |
All conveyancing work (including disbursements) and legal work associated
with the sale. |
| 24. |
Includes the first Owners Corporation Certificate if the property is a unit with a body corporate (any additional Owners Corporation Certificates are at vendor's cost). |
| 25. |
Confirmation of mortgagee payout details to ensure delivery of title at settlement. |
| 26. |
Finalisation and completion of the sale transaction on settlement day, and collection of the balance of sale funds. |
| 27. |
Delivery to client of the balance of sale funds. |
| 28. |
Notification of rating authorities of change of ownership. |
Are there any time limits?
You can cancel at any time.
You will not be bound to us for any period of time, and you can terminate our retainer at any time (however, you will remain liable for the payment of costs incurred up to the time of termination).
The sale campaign expires after three months.
Your sale campaign will run for a period of three months, after which it may be ended by either party. There are two reasons why we limit sales campaigns to three months:
1. The Section 32 Vendor's Statement is regarded as valid for a period of three months, after which it must be reviewed and
updated, and fresh certificates and searches may have to be purchased.
2. It is common experience that a property that fails to sell in a period of three months risks being regarded as "stale", and perceived as unwanted or flawed. In such circumstances a vendor may wish to reassess the situation,
and consider options including postponement of the sale, review of pricing in consultation with the valuer, or aesthetic improvements to the property.
Extending the sale campaign.
Extending the sale campaign may be appropriate in some circumstances, such as periods of market volatility or where the property is unusual. For example, an expensive mansion in an average residential area may take longer to sell than other properties. In such circumstances it may be appropriate to simply extend the sale
campaign for a mutually agreed period.
What if the sale is cancelled?
We understand that circumstances can change, and that a vendor may decide not to proceed with a sale. Where a sale is cancelled, our
fee will be capped at
$2,200 (incl GST).
The capped fee covers our legal services up to the time of cancellation, including the
costs associated with signage, internet listing set-up, legal advice and
assistance, preparation of the
Section 32 Vendor's Statement and
Contract of Sale of Real Estate,
and handling of enquiries and any
negotiations, to the date of cancellation.
Because we do not use any form of
exclusive sale authority,
you are not bound to us for any set period of time.
Legal Notice
All visitors to this website are advised to visit our
Conveyancing Section for real estate consumer information, and to our
Disclaimer regarding the limited use of information provided on this website.
