Conveyancing is the process of buying and selling property.
Our firm has 35 years’ experience, first as Jansen Walsh & Associates, and during the last 30 years as Jansen Walsh & Grace.
We can assist you in purchasing your investment property, whether it is:
- Commercial property
- House, unit, apartment or town houses;
- An “off the plan” purchase
- a purchase by your SMSF or DIY superannuation fund using a limited recourse borrowing arrangement.
We also help you unravel through Victoria’s complex subdivision system. We can assist you with:
- large subdivisions with several owners corporations;
- dual occupancies;
- restrictive covenants;
- section 173 agreements;
- adverse possession claims
- planning appeals.
If you are buying a property, we are happy to review your Contract of Sale before you purchase. This is a free service.
PEXA electronic conveyancing
We are a PEXA Subscriber. That means we are one of the few conveyancing firms who are authorised to effect electronic settlements in conveyancing transactions on your behalf. For a vendor, it means you can see how the purchaser is progressing. You also get your funds faster instead of having to wait 3 days for your funds to clear. For a purchaser, you can see how your lender and the vendor are progressing. You also get registered on title quicker. We offer a $100 discount on our fees for anyone using it.
Property investment lending just got tighter! APRA has issued a directive to the banks which requires them to tighten up the lending criteria for property investors. This includes a stricter assessment for the borrower's income and increasing the amount the borrower must contribute to the purchase.
As a result of the directive from APRA, lenders are now tightening up their lending to investors to meet APRA’s requirements that annual investor lending growth be no more than 10%.
Furthermore, we are finding that many valuations for investment properties are coming in at 10% to 15% lower than purchase prices or because of the new APRA directive to lenders.
As a result, Westpac requires borrowers to contribute 20% of the purchase price. The other banks have introduced, or are in the process of introducing, similar measures for lending for property investment.
However, one lender based in the Hong Kong Special Administrative Region of the People's Republic of China is offering lending for property investments in Australia, including Melbourne, without the investor having to fund any of the purchase price.
From Monday, 9 November, you will not be able to buy and sell real property in Victoria without verification of your identity. This requires a client authorisation and an identity agent certificate. This is the first step in the process of abolishing paper titles. As Jansen Walsh & Grace was one of the first law firms in Melbourne to become a PEXA subscriber and has conducted electronic settlements, we can guide you through the process.
The Duties Act has been amended to impose additional duty on offshore buyers of houses and apartments. In addition, the Land Tax Act imposes a separate 0.5% absentee land tax. We have advised foreign investors on navigating the new regime.
Foreign investors wishing to invest in residential property and rural land have to pay a fee of $5,000 to the Foreign Investments Review Board for properties valued under $1 million, and $10,000 for properties over $1 million. An incremental fee increase of $10,000 will then be charged for every additional $1 million in property value. Foreign investors wishing to purchase commercial properties will be subject to an application fee of between $10,000 up to $100,000.
The decision of Her Honour Judge Kennedy in Birch v Robek  VCC 68 is a reminder to vendors of off-the-plan that the purchaser may be able to rescind the contract and recover the deposit if there is any misleading statement in the brochure. The purchaser was a 24 year old woman who had saved the deposit by living with her parents. The title she received was less than what the brochure implied. Her Honour held that the brochure was misleading. The disclaimer was not effective and the use of small print and she found that the use of small print by the vendor was unreasonable.
We are a PEXA subscriber. That means we are authorised to effect electronic settlements. As a vendor, it means that you get your funds quicker rather than having to wait 3 days for your funds to clear. As a purchaser, you get on title quicker.
If you have purchased a property with a partner and the relationship has broken down, you may wish to have the house transferred into your sole name. This is known as a transfer of equity. At Jansen Walsh & Grace, we will deal with the drafting of the Transfer of Land and the terms of the underlying agreement, including whether you need a court order. What's more, we will make the process as smooth as possible. We appreciate that this is a stressful time for you, and we will handle your transfer with care and understanding.
New Spouse or Partner
If you have purchased a house in your sole name and now wish to transfer equal ownership to you and your new Spouse or Partner, we can deal with this matter on your behalf. The addition of a further owner is also known as a transfer of equity. We will guide you through this process smoothly and efficiently.
Death of co-owner
If your spouse or partner is a co-owner with you and has died and the house needs to be transferred into your sole name as the remaining co-owner. This is known as a survivorship application and we can guide you through the process.
If your spouse or partner owns the house and has died and the house needs to be transferred into your sole name in accordance with the terms of their will we can also guide you through this process smoothly and efficiently.
Storing your Certificate of Title
We provide a free custodial service. You can store your Certificate of Title in our fire-proof facility, where it will be available when you need it — for free.
Looking for a finance broker?
If you are looking for a mortgage broker, we recommend Peter Ruddock of Mortgage Choice: www.mortgagechoice.com.au/peter.ruddock