These days an offer to purchase a property is generally conditional upon a host of due diligence type conditions being satisfied by the purchaser. These conditions can range from obtaining finance through to obtaining suitable Builder’s and LIM reports. The level of information now available to prospective buyers is staggering and if an offer is correctly drawn up it can allow a purchaser to cancel the contract relatively easily.
So what happens when these contracts fall through? Your lawyer will have spent time on your behalf prior to the contract ending perusing and checking the contract terms, searching the title, dealing with the other party’s lawyer and you concerning satisfaction of conditions and issuing or receiving a notice of cancellation.
Many legal firms will charge you a fee for their time up to the point that the contract is cancelled. Fees can range from $200 to $500 depending upon which firm you are dealing with and how much time has been spent by your lawyer.
At LBP we do not charge you a fee if your sale or purchase contract is cancelled. Our primary focus is helping our clients buy or sell their homes in a straightforward and cost effective manner. Often it can take several contracts before a property sells or clients are able to secure their dream home. Our clients can rest assured that they won’t have to spend their hard earned equity or deposit funding lawyers’ fees without achieving their desired goal.
So what do we get out of this? We get the satisfaction in knowing that our clients’ disappointment at not securing the sale or purchase of their home is not aggravated by having to pay legal fees without achieving their desired result and that happy clients make the best referrers for our services.