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 fixed fee of $5,500 (incl. GST) for the services we provide for a standard real estate sale.
Our fee includes the cost of photography, signage, internet advertising, negotiation, legals and document preparation 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 philosophy. As lawyers, we charge a fixed fee on the basis of the services we provide, while an estate agent
charges a commission based on the value of your property. We believe the value of your property is irrelevant in determining the fee for the services we provide.
Even though, as lawyers, we provide more services than an estate agent can, and the quality of our service exceeds that of estate agents, we believe this does not entitle us to a percentage of the value of your property.
[Further information - see "Estate Agents - Commission Mentality Explained"]
When is our fee payable?
The costs of our services are invoiced as each stage of the transaction is completed. You will be invoiced for $2,200 when we have prepared your sale documents and set up your sale campaign. The remainder of our fee, $3,300 will be invoiced after your sale is completed, 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).
Are there any time limits?
You can cancel at any time
Because we do not use any form of exclusive sale authority,
you are not bound to us for any set period of time. You can terminate our retainer at any time and are only liable for the payment of costs incurred up to the time of termination - capped at $2,200 (incl GST).
The sale campaign is reviewed after 3 months
Your sale campaign can run indefinitely if you wish.
Disclosure documents (Section 32) are usually regarded as valid for a period of three months, after which they should be reviewed and
updated where necessary (fresh certificates and searches may have to be purchased).
It is necessary to review and monitor the progress of a sale, and to determine its viability in changing market conditions. You may wish to consult your valuer if the property hasn't sold after 3 months.
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 disclosure documents and handling of enquiries and any negotiations, to the date of cancellation.
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. |
Legal advice on pre-sale disclosure obligations and advice as to the appropriate inclusions in the disclosure documents. |
| 3. |
Advice and guidance on the law relating to advertising (misleading and deceptive conduct etc.). |
| 4. |
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. |
| 5. |
Photography and selection of photographs for use on the internet. Digital images available to the client upon request. |
| 6. |
Professional installation and removal of the "For Sale" sign at the property by fully insured contractors. |
| 7. |
Preparation and uploading of internet listing. |
| 8. |
|
| 9. |
Upgrading of internet listing to high-profile "Feature Listing" for the first month. |
| 10. |
Vendor Inspection Pack which includes vendor checklist and hand-outs for prospective purchasers, to inform them about our sale procedure. |
| 11. |
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| 12. |
|
| 13. |
|
| 14. |
Communicating with potential purchasers and/or their legal advisers and providing legal advice in relation to matters communicated. |
| 15. |
Negotiation of sale by an experienced and qualified lawyer; including price and contract conditions, and consideration of any
special conditions that may be required. |
| 16. |
Legal advice on bids and offers received from potential purchasers. |
| 17. |
Legal advice as to appropriate special conditions for inclusion in sale arrangements to protect vendor's interests. |
| 18. |
|
| 19. |
Collection and holding deposit funds in trust. |
| 20. |
Advice as to vendor's rights and obligations regarding deposit funds. |
| 21. |
All conveyancing work (including disbursements) and legal work associated
with the sale. |
| 22. |
If the property is a unit with an owners corporation, one Owners Corporation Certificate is included (any additional Owners Corporation Certificates are at vendor's cost). |
| 23. |
Service of formal request on mortgagee pursuant to the Consumer Credit Code for mortgage payout details in preparation for settlement. |
| 24. |
Arranging for the discharge of any existing mortgages or caveats over
the property. |
| 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. |
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