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Once upon a time... conveyancing stories


Dear visitor,

Hope your day has been well.

We love seeing you on this page and hope that the stories below could be of assistance to you.
These are real stories that happened in our long years of practice. They are not meant to scare you, but to remind that every property and every transaction is unique, and when unexpected happen it will help you to feel that you are in good hands if you are our client.

These stories are our intellectual property and a copyrighted material, please contact us to find out the terms of reproducing it.

Yours sincerely,
Anchor Conveyancing Team


Story # 1. Pest/Building Special Condition and major structural defects. Always get pre-purchase advice

A Contract was signed without obtaining our pre-purchase advice. The Contract was subject to a Pest/Building Special Condition that only permitted the buyer to pull out if a major structural defect was found. The inspection report revealed extensive and expensive non-structural plumbing issues. Could anything has been done?


Story # 2. Do not chose price over quality when you transact over half a million dollars assets. Car park story

A unit sale with a car park. The vendor conveyancer did not do a good job and prepared a Contract/S32 Statement without a car park on separate title. The purchaser chose a cheap firm that did not investigate whether their client had bought a unit with or without a car park. The property settled and for many years this was not discovered until the purchaser went to sell, and we discovered the error. The previous vendor who still owned the car park had since passed away.

Story # 3. Our favourite. How many times you can sell the same property?

An agent sold the same property twice. They thought they would get a lower offer signed up just in case the higher offer fell through. The higher price one was also signed. The Vendor had sold their property to two different buyers for two different prices, and none of the purchasers wanted the contract to let go. Oh, it was fun.


Story # 4. Why you should never save on searches and get your own current set of searches

The Owners Corporation Certificate in a Contract revealed that the members had voted to urgently replace the common roof, with Special Levies to be struck shortly at a cost of roughly $20,000 per unit owner.



Story # 5. An experienced conveyancer can save your day. Common property issues

The property was affected by an Owners Corporation, with a simple driveway being the common property for four units. The Owners Corporation was essentially inactive, and no insurance existed on the driveway. Someone had injured themselves on the driveway and was suing the Owners Corporation, which had no public liability insurance. Owners Corporations not having public liability insurance is not that uncommon as you might think. How can you protect yourself?

Story # 6. Taking risks does not always pay off

Somebody decided to sell a deceased estate property before obtaining Probate. The solicitor prepared a Contract with a Special Condition open ended on timeframe for obtaining Probate and the buyer signed the Contract against advice. The estate was challenged and Probate was delayed for several years. The legality of the actual Contract was called into question.

Story # 7. Photograph every corner when you do inspections. It might help you later on

In a two-million property sale a purchaser discovered during a final inspection that a kitchen benchtop had serious damage to it, with what appeared to be staining caused by chemicals used to clean it. The vendor denied that the damage had occurred since the date of the Contract, claiming the benchtop has always been that way. However, there was a pre-sale video of the apartment, and the unstained benchtop could clearly be seen in that clip.

Story # 8. Getting a conveyancer with experience in off-the-plan contracts might be of assistance

When purchasing off the plan, a developer replaced a series of expensive rangehoods in the complex with smaller and cheaper ones versus those promised in the Contract, relying on the contractual right to switch items contained in the Special Condition. What could have been done?


Story # 9. Fraud prevented. You pay us for peace of mind

In an attempt to secure an early release of deposit, a Vendor altered a letter of support from a bank, falsely showing a reduced amount outstanding on their mortgage. The alteration was discovered through our firm paying close attention to that letter.



Story # 10. Contracts subject to lease require coordinated efforts of conveyancers, real estate agents and property managers

A buyer signed a Contract for a property that was subject to lease with the tenant being on an overhanging lease. The buyer intended moving into the property on settlement, but the managing agent failed to properly serve notice on the tenant.

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Disclaimer

Whilst every effort has been made to present accurate information, Anchor Conveyancing makes no warranty as to the accuracy or currency of the content of this website and any articles or links. This website should be used as a guide only and must not be relied upon. You must seek professional advice before undertaking any course of action.